Introduction
The Fever about cryptocurrency is increasing, people have heard about it, and more and more people want to find more about it, and find a way to be a part of it. When blockchain technology came, so many things changed, for better, we say. So many businesses have improved, so many companies have started using crypto currencies in their work. The new ideas are coming every day. People want to invest in the new projects. We have the biggest tool in the world, and it is called the Internet. The internet is an enormous base of information where we can do anything. Internet has connected the entire world.
Because of the access to the internet we are able to get information about one of the most incredible crypto-project which is known as CyberMils !
CyberMiles Foundation Limited Profile
The company is located in Hong Kong and is engaged in nonprofit. This company will work with 5Miles. The purpose of this collaboration is to develop blockchain for e commerce. With this focus, CyberMiles will integrate the latest blockchain innovation to drive highly effective business chains.
Token CyberMIles is planned to be the main token that funds the latest applications and projects in e-commerce. CyberMiles will help realize a decentralized platform with strong engagement from the ecosystem. The vision in the future is the establishment of safe and reliable public services for its members.
On the other hand, 5miles also has a vision of moving the sellers and buyers to a decentralized network. This platform will be the first environment to take advantage of a back end network and start an ecosystem.
5miles Profile
5miles is a champion in e-commerce among consumers in the United States. Applications that become its flagship application 5miles. This app has more than 10 million registered users. In 2017 alone, total transactions reached $ 3 billion in one year. Generally, 5miles app users use 24 minutes of their time to shop so 5miles becomes one of the most attractive e-commerce apps number 3 in the United States of America.
Blockchain technology can provide solutions to common problems in e-commerce networks among consumers eg settling negotiations between sellers and buyers who have not agreed. This can reduce costs. Currencies in blockchain networks can be very efficient and reduce transaction costs. In addition, it can be used by community members to create their initiative and create a strong network. The blockchain network computing system will ensure that the market will not be offline. Blockchain will facilitate business transactions through smart contracts.
Since 2014, 5miles has built a different market with the market in general. This market is formed based on c2c transactions and open the value of existing merchandise. The 5miles platform is mobile-based and enables real-time communication. This can solve the agreement between friends and others safely. 5miles becomes a very important tool for many local businesses. Buyers and sellers have unique profiles, there are also reviews and ratings and ensures that market participants will garner business interest at 5miles. 5miles develops an online ecosystem that leverages geographical proximity between users.
5miles believes that technology that has a blockchain base and a process with decentralized systems can massively alter the online market and local commerce. 5miles see that a transparent and calculated economic incentive can motivate others to be very active in a community. If incentives are obtained through processes within markets and online communities, many centralized market functions become decentralized. This strengthens the creativity and participation of market participants. While at the same time, this allows the network to be more active and measurable.
However, the current blockchain lacks especially in meeting the needs of e-commerce that is not well designed, yet can solve latent problems to support high volume, the application of smart contract is too old fashioned for the size of e commerce.
The CyberMiles Foundation develops blockchain protocols with several such attributes
Supporting smart business contracts related to the decentralization process
• Manage user identity and transaction data privately and securely while activating transactions.
• It starts with a user base of 10 million, then access to user data will encourage e commerce platform and other consumer financing to be built in CyberMiles.
• Utilizing a consensus machine that can support tens of thousands of transactions per second. This can solve latency problems from existing chains.
Innovative Smart Contract Solutions
Blockchain technology is currently experiencing problems related to efficiency and productivity. As a decentralized system, blockchain networks require independent nodes that have to perform repetitive computing tasks and ultimately have to reach a certain consensus. This makes the system inefficient and difficult to measure due to increased computing efforts.
Due to this performance issue, computing from third parties in the blockchain network is also becoming very limited. In turn, it will lead to a poor developer experience with low productivity. As a consequence, Ethereum Smart Contract Dapps are not widely used.
There are several proposed solutions to address performance issues and blockchain technologies:
• Mechanisms form a new consensus. Blockchain Bitcoin and Ethereum currently use an inefficient consensus mechanism called Proof of Work (PoW) to secure the network of participants. Work can be more effective if done with a mechanism called the Proof of Stake (PoS).
• Sharing the network. The commonly used approach is by sharing the network into multiple sub networks. Then all the networks are formed on a horizontal scale by adding more sub-networks. In a decentralized network, sub networks must communicate with each other and reach consensus in their country. It’s much more complicated than regular
database sharing.
• Off chain calculation. This is a direct solution to the job problem by moving many heavyweight computing tasks from blockchain and using a blockchain consensus mechanism.
The Solutions Offered
To create the ideal blockchain system, there is a new blockchain protocol called Smart Business Contract. This protocol includes virtual machines and defines software middleware outside blockchain. Each node in a blockchain does not only run blockchain ledger but also supports standard middleware. The key is not to create a virtual machine or a powerful programming language but build up the extensive literacy of software components and standardize all the software piles.
A Business smart contract on Blockchain
CyberMiles blockchain business contracts are analogous to smart contracts on the Ethereum blockchain. Results from Smart Business Contracts are stored in new blocks. Differences Smart Contracts CyberMIles and Smart Contract Ethereum are Business Smart Contracts have access to a powerful collection of software middleware. This Smart Contract can be easily developed and usable. The Business Smart Contract is part of the blockchain so that the computing power required to execute it can be calculated using CyberMIles system cryptocurrency. That is CyberMiles Token (CMT). The use of a transaction pays a validator with a small transaction fee in CMT.
For more information, visit Link Below.
Website : https://www.cybermiles.io/en-us/
Telegram : https://t.me/cybermilestoken
Whitepaper : http://www.cybermiles.io/vision/
Twiter : https://twitter.com/cybermiles
Facebook : https://www.facebook.com/cybermiles/
ANN Thread: https://bitcointalk.org/index.php?topic=2344875
Project Whitepaper: http://www.cybermiles.io//wp-content/uploads/2018/03/Project-white-paper_en-US.pdf
App Download Link: https://play.google.com/store/apps/details?id=io.cybermiles.cmtwallet
Bitcointalk ID : 1967195
Bitcointalk name : wroth56
Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=1967195
CMT WALLET ADDRESS : 0x37df20831fd2470cd50318024ffaa6ccbed0c86e
