What is CyberMiles?
CyberMiles is a new blockchain-era protocol with cutting-edge features designed and developed specifically for transactional and commercial applications that implement smart contracts. CyberMiles is expected to blockchain in place of Ethereum in the future.
CyberMiles is the blockchain technology being developed by CyberMiles Foundation, a blockchain research laboratory working closely with 5miles.
Why 5miles?
5miles was formed in 2014 by a world-class team from China and the US. Since its inception, 5miles has since raised approximately USD 62 million from top-tier investment firms such as SIG, IDG, Morningside, and Blue Lake. Since the launch of its app in 2015, 5miles has already established itself as a Top 10 shopping app, with more than 12 million users and USD 3 billion in annual transaction value. Its founding CEO, Dr. Lucas Lu, was previously a co-founder and CTO of Light In the Box, a company which went public on the NYSE. Before that, Lucas was the first GM of Alibaba’s Taobao Mobile platform
Why CyberMiles and the difference of CyberMiles?
Today, ecommerce business replacing traditional methods is becoming more popular. Helping small and medium enterprises save costs and human resources in understanding partnerships, transactions and signing contracts, expanding the market. However, it still exists inadequacies such as the settlement of orders, settlement of disputes, payment of orders are still overlap, increasing the real value of the product. The management of confidential customer information is not taken seriously, leading to personal information stolen customers.
In that context, e-commerce has used blockchain technology to create transparency in transactions, solving some of the inadequacies. Unfortunately, the current blockchain does not achieve high satisfaction simply because it is not designed to cater specifically to ecommerce.
Thus, blockchain CyberMiles was born with a new protocol that is better compatible with the e-commerce market, ensuring the entire network operates continuously, in particular, transaction costs will be cheaper.
The difference of CyberMiles is that they focus on online and ecommerce markets.
CyberMiles can support tens of thousands of transactions (TPS) per second while Ethereum today only accepts 10 TPS.
CyberMiles' smart business contract does not require developers to write applications from scratch, but they can access a set of middleware that makes the process simpler and faster, making the application more efficient and efficient than.
Advantages of CyberMiles compared to Ethereum
• Performance: CyberMiles are 100 times faster than Ethereum in terms of number of tps. Completely compatible with Ethereum and can run all smart contracts and Dapps of Ethereum.
• Security: Blockchain CyberMiles prevents bugs from contracting. And if a deficit still exists, CyberMiles supports an on-chain management process to fund the acquisition transparently through community consensus.
• Cost: Free CyberMiles deals for the most popular activities. The cost of CyberMiles is lower than Ethereum's
Join the CyberMiles community?
Smart deals and contracts on CyberMiles are paid for by CyberMiles Token (CMT). In addition, you can facilitate the distribution of rights between registered parties on the CyberMiles platform.
CyberMiles will launch Test-net on March 30, 2018. During this trial, CyberMiles will put Travis code on the network, verifying the implementation of Ethereum applications on blockchain CyberMiles. Also this is a reward program for marketing services and public relations by promoting awareness of CyberMiles. The bonus amount of CMT depends on the level of awareness generated. There are many different campaigns that you can participate in such as social media campaigns that give participants incentives for content from blogs to media publications, Twitter feeds, Reddit uploads, and Facebook posts. .
**Token Supply Schedule **
As transactions occur on the CyberMiles chain and Smart Business Contracts are executed, the transactions will be processed and validated through a delegated-PoS (“D-PoS”) consensus engine system, and will result in newly minted tokens to incentivize & compensate the network participants. The mechanisms for the D-PoS engine are in-development, but the CyberMiles Foundation will target an eight-percent (8%) compounded annual increase in the total number of tokens, from the close of the Token Contribution Event, until the 10th year anniversary. Upon the 10th anniversary of the Token Contribution Event, the Foundation will decide, based on the development of the CyberMiles ecosystem and with input from the community, on the targeted growth in the token supply for subsequent years. Regardless, the Foundation is proposing a long-term cap of 10 billion tokens as the maximum number of CMT tokens that can be issued and circulated.
For more information, please visit:
Website: http://www.cybermiles.io/
Face book: https://www.facebook.com/cybermiles/
Twitter: https://twitter.com/cybermiles
Notice: http://www.cybermiles.io/vision/
Author: skjlle
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