Since the creation of the blockchain by Satoshi Nakamoto, known inventor of Bitcoin, it seems that the whole digital world is revolving around this global data structure whose premises are based on security and unnecessary trust between members. However, when it comes to finances and/or assets contained in a global public system we all need a transparent and of course reliable environment in order to feel secure in using these systems.
As a project that seeks to meet the demands of society in terms of transparency, scalability and high performance, is launched to the digital market Blockchain publishes "BUMO" whose purpose is to create a reliable business environment consisting of a set of tools that establish a network of global trust.
I know you will be interested in their proposal, here you have everything you need to know about BUMO!
BUMO
To build trust the "Bumo" project relies on ubiquitous machines connected to the network from different parts, i.e. nodes or members that act within the platform as both servers and clients. Most likely you are wondering, is this what the original blockchains do, which makes Bumo something different?
The answer is simple, because the difference of this network is that it classifies nodes according to their functions within the system but they all work towards a common goal, achieving network transparency and providing value to transactions.
- Node Types
2. Candidate Nodes: It is part of a previous classification to opt for the position of validating nodes, selected by choice or chance.
3. Validating Nodes: They function as accountants and network administrators simultaneously, receiving commissions for the transactions carried out on the platform.
Tokenizacion - Virtual World/Real World
According to Don Tapscott, Executive Director of the Blockchain Research Institute, the blockchain has become the "Internet of Value" and in my opinion it is the right thing to do. The tokens function as coins that have the potential to transfer their value to real objects or outside the chain of blocks, it is for this reason that the Bumo network works in the confidence of the network but also in the confidence of value circulation of transactions.
To do this, the connection between ubiquitous machines create a bridge and give way to tokenization. In this ecosystem the network functions as a centralized institution that connects the different tokens that exist in the blockchain and give them a value in front of the objects of the virtual world and the real world.
Transactions become much easier and they are given a high level of security in the transfer of values to users and companies active in the network.
High Performance
Speed and scalability are usually indispensable characteristics for all of us because it will always be much more attractive to have a platform that allows you to carry out your operations in real time to one where you have to wait until days for them to be carried out successfully. We even see this choice in daily operations when we decide to transfer our money to accounts of the same bank because we know that they will reach the destination account in a matter of minutes. Bumo works in a highly scalable environment that allows up to 10,000 transactions per second, where waiting time is just a myth.
With Bumo users create their own dApps with the tools and templates that puts in their hands the network thanks to the implementation of "BUMO Virtual Machine", environment that facilitates the work of those users who do not have extensive knowledge of programming, ie, you can create a high level app using BuContract with simplified languages such as Javascript.
Advantages
For those of us who have immersed ourselves in the immense sea of blockchain technology and cryptography to have a space that simplifies our operations and provides real value to our digital assets is a breakthrough, Bumo represents an important business and commercial infrastructure based on trust and transparency that seeks adoption by leaders and influential industries that help them create a prosperous global community. Some of the benefits you should know are:
1. Decentralized mining through a mechanism of choice of validating nodes.
2. Native token "BU" that represents the gas for the costs of the network.
3. Efficiency in the execution of programming languages.
4. Free circulation of assets.
5. Low rates for network maintenance.
6. Shared applications.
The real economy and the virtual economy are just one step away from merging, both value and information flow freely in this network and everything is at your fingertips, a reliable and ubiquitous infrastructure in the circulation of value, that's BUMO!
More Information & Resources:
BUMO Website
BUMO WhitePaper
BUMO TechnicalPaper
BUMO Telegram
BUMO Weibo
BUMO Reddit
BUMO Facebook
BUMO Twitter
BUMO Github
BUMO Wallet
My Video
https://twitter.com/gmundrain/status/1051803177119600641
- gmundrain
