Transfer of values is one inevitable activities that can not be suspended for even a second. Thus, the whole processes that make transfer possible should be adequately taken care of. Internet is seen to have solve problems that entails transferring of values from one point to another with minimal cost and stress. People can send values at the snap of their fingers without wasting much time and money. But Internet can only complete a transfer with the presence of a centralized authority. This centralized authority enables the transfer from one person to another totally complete. This is where the inefficiencies lies, where a central authority with their regulations and charges be the finisher of transfers. We are heading to a world where users can operate their own financial and accounting processes, where banks accounts can be adjusted at the palm of ones hand and decisions, so the idea of central authority has made the technology to be limited but block chain technology solves that issue where we don't need an intermediary permission before sending values. This block chain technology is found in Bumo which is a platform for efficiency in transferring values or information without the help of a centralized authority.
Bumo Defined
sourceBumo is seen to be a platform that enables transfer of values to be swift and efficient without any central authority with the total utilization of smart contract. It aims at formulating a technical trust network for easy transfer of values to be communicated from one party to another. Bumo is concerned in promoting an era of block chain that eradicates ubiquity in transfer of values.
Centralization of Mining in blockchain goes against the attributes of decentralization.
Transaction swiftness is slow where an inconvenient limit of transactions can be carried out per second. For example, bitcoin does over a thousand transactions per seconds, this shows a level of slowness in carrying out transactions.
Cost an high level of energy during mining where such energy wasted can be used for other productivity.
Why Bumo is advantageous?
Bumo transfer values as fast as how information are transfered. Bumo has a lot of advantages which are:
2)Existing value transfer:**
this is enabled by a well functional structure that allows any asset to become tokenized. This allows asset to have token which can be transferred from one party to another for transaction purpose or any other purpose.
3) Promote equality and fairness:
current blockchain mining are controlled by some particular miners which contradicts the attributes of decentralization. This shows a centra authority. But Bumo tend to correct this, where Bumo allows the update of blockchain to be considered.
4) Easy Transfer of Values:
values are being transferred from one place to another fastly and freely in Bumo where smart contract is the link through which transfer can be made. This is as fast and efficient as transferring information.
Participation in Bumo
Bumo surrounding allows any digital tool to become a member or partcipant, these partcipants formulate values, maintain and manage network and also to develop dapps.
sourceBumo allows assets to flow freely inorder to gain value which cant be obtained if placed in one place. In bumo, after when digital assets have been confirmed and registered, its only those with the private keys that posses such level of ownership which are enabled to transfer the asset from one place to another freely. The major aim of Bumo is to link users and networks inorder for possible value transfers to be made.
Bumo Token
Token is used to represent a value in the block chain. Bumo token enables users to have full order over assets which is allows digital and various economic processes to be present in Bumo.
In conclusion, Bumo is seen to allow assets and values to be transferred freely from one point to another. It also has the structure to tokenize any asset which enabled it to represent a value.
For More Information Visit the Links Below
Bumo Website
Bumo White paper
Bumo Twitter
Bumo Technical Paper
Bumo wallet
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