The ease of using common block chains in the use of cryptocurrencies is already known for other types of transactions, games, exchanges of values and other movements with the use of electronic devices with Internet access; However, for people who are not familiar with these technologies, they do not only need the facility to do so on their own digital devices, which they already know and use; but also to do it with the same speed with which it operates on the Internet and, at the same time, with security, trust and transparency mechanisms in its exchanges.
These questions also focus on large companies have problems of scalability, security and performance in the implementation of blochchain, especially at the time of generating decisive efforts, which is related to the neck of the bottle that slows processes to reduce speed of the transactions in the blockchain. Added to this is the fear of the security of transactions.
It is in these cases that the BUMOplatform offers fast, secure and decentralized solutions, because it is not limited to those who have powerful computers to run on their nodes, but any intelligent computer with Internet access can be employed, with the same familiarity , speed and security that each user needs, which facilitates their overcrowding, which in turn increases the values of blockchain operations.
The BUMO platform uses the ubiquitous trust network. It is a system that allows you to create a network of reciprocal trust in which information and transaction values flow freely, in bulk, with any existing intelligent device and with great ease, so that both expert developers and anyone unfamiliar with operations of this kind can move easily, safely and quickly, in a massive way. This is achieved by using networks within the Internet and social networks, by combining the digital assets, the smart devices of its users and the data of the users, making the operation verifiable and transparent, without the limitations of the bottlenecks in these processes. and democratizing the system to do it massively, because we must not expect to have special high-cost equipment or the creation of new business infrastructure, but existing networks; which allows greater transactions in less time.
These processes are advanced with the use of tools and templates designed so that each person can become a developer and instrumenter of data applications (dApp); Each intelligent device acts as a node of the network and avoids the possible manipulation that can be exercised by companies and large developers with large super specialized computers for this purpose. It is the creation of a state-of-the-art cutting-edge blockchain for the transfer of ubiquitous value, which is why it is done with high performance.
¿What is ubiquitous value transfer?
The expression "ubiquitous value transfer" explains the possibility of converting any real asset into a Token, into a common symbolic value for the members of the network, wherever they may be.
A global network that allows the "tokenization" of any asset!
Based on the infrastructure of the public chain
BUMO, all assets can be tokenized, regardless of whether they are Loyalty Points, Gaming Points, Insurance, Financial Assets, or even some Fixed Assets or Assets of Reality, which extend the scope of the assets in circulation. Easy to transfer, and allows these values to be distributed freely throughout the world and in different chains.
Although the use of blockchain technology was born with the idea of democratizing its use by decentralizing it to many users, at present there is a tendency to centralize the mining of cryptocurrencies and crypto assets because large companies or powers control mining power with its high investment capacity, forging monopolies that are contrary to the purpose of the chain. BUMO has resolved this trend by creating a random selection process to give all the validation nodes the same opportunity to act, avoiding their centralization, so that many devices can be connected and participate acting in a deconcentrated manner. With this same system, the congestion of transactions in the bottlenecks of the traditional system is avoided.
In summary, BUMO offers greater performance in high transaction speed; low energy consumption compared to centralized mining; extension of the application threshold, by facilitating the use of a greater number of users, since it does not require the use of a specialized professional; and the isolation of the value, due to the lack of liquid markets for the cryptocurrencies, is released by being able to carry to active crypto any other real asset and vice versa.
To compose the network, it is enough to access with any intelligent device of the user that makes it a participant in the environment of
BUMO, each node contributes to the maintenance of the network and development of applications and the creation of values.
The participants can act from several roles:
Node: any intelligent device connected to the network; All nodes are transparent and autonomous.
Candidate nodes: all the
BUMO nodes can request to be a candidate node; some qualified nodes are selected as candidate nodes, these nodes undergo a choice / lottery to become validation nodes
Validation nodes: selected from the selected / winning candidate nodes, and are responsible for resource management and network accounting; these nodes charge network transaction fees
The more devices are connected to the
BUMO network, the more ubiquitous and transparent the network will become.
The
BUMO system is an incentive, by calling "GAS" the costs of the network and be massively shared. These costs are composed of the storage and network rate, depending on the type of transaction and its size; and the calculation fee, based on the weight of computing resources, measured in the time it takes to execute the contract requirements. The "gas" rewards are delivered to the validation nodes. These rewards are continually adjusted by a vote of the participants in the network through a separate mechanism called the GAS adjustment algorithm.
The contract of adhesion to the BUMO network is intelligent, BUMO (Virtual Machine) is the environment in which the intelligent contracts of BUMO are executed. BuVM has numerous templates that allow users without any development background to create high-level applications. The means to allow the intelligent contracts of BUMO to be instrumented in common programming languages (such as Javascript) offers advantages, such as avoiding having to learn new programming languages for developers and the high efficiency of execution of these popular and tested languages.
The main attraction, after all, are the enormous benefits that BUMO brings, the free flow of digital assets, which eliminates static assets; the circulation between domains creates new magnitudes of value for all the users that interact through
BUMO. With BUMO a "win-win" is applied for its participants, a mutualism that yields benefits and multiplies them among more and more participants.
The BuChain Architecture
BUMO is a new generation of public chain for business. It builds an internet infrastructure that can move value around through core technologies like BU Firework, BU Orbits, BU Canal and BU CodeMach.
BLOCKCHAIN-Bumo
TOKEN-Bumo
Bumo PARTNERS
Meet the Great Bumo team
More information
- BUMO Website
- BUMO WhitePaper
- BUMO TechnicalPaper
- BUMO Telegram
- BUMO Weibo
- BUMO Reddit
- BUMO Facebook
- BUMO Twitter
- BUMO Github
- BUMO Wallet
Here is my Tweet about the contest
This is my entry for
Bumo2018 https://ipfs.busy.org/ipfs/QmVcwRe7D22pLX52Cr9UBZkramYFdS9Fk4DjaFfVVqxXT1