CyberMiles Blockchain Network Releases ‘Travis’ Mainnet for E-Commerce

CyberMiles is a new public blockchain that is optimized for the e-commerce world. It these days introduced that the enormously anticipated release of the Travis mainnet. This follows its introduction of Lity, which is the CyberMiles’ programming language.

It also launched its virtual machine (CVM) a short whilst ago. The entire CyberMiles blokchain is the end result of a year-long effort. Additionally, the mainnet makes excellent on the agencies token presenting last fall. During the token offering, the agency raised 84,000 ETH from members in over one hundred ten nations.

CyberMiles is a next-generation blockchain protocol optimized for enterprise and marketplace purposes with mainstream adoption in mind.

It’s being developed via the CyberMilesFoundation, who works carefully with 5miles LLC; an e-commerce agency based by way of Liang Lu and is based totally in China and the US. It's one of the top 10 shopping apps in the United States with over 12 million users. This userbase will be the first one introduced to CyberMiles decentralized network, presenting the first-rate possible exposure on launch day.

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What makes CyberMiles stand out from Ethereum?

Instead of constructing dapps from scratch on Ethereum, CyberMiles very own “smart business contracts” will provide a variety of software tools integrated in its blockchain, making it a whole lot less complicated for developers to construct their applications.

The use of a noticeably environment-friendly DPoS consensus engine will make CyberMiles more decentralized and scalable than Ethereum, with a capability of over 10,000 transactions per second.

In a similar way to how Ethereum allows developers to create a foreign money to fuel their very own ecosystem, the CyberMiles token will fund the neighborhood for providing services for every other and preserving the duties done on the network.

The CyberMilesFoundation is basically creating “Ethereum 2.0”.

The First Participants

5miles, which is a famous P2P market, plans to be the first DApp to use the CyberMiles mainnet blockchain for real-world business. The company, primarily based in the US, will move its 15 million users and over $3 billion in annual transaction extent to the CyberMiles mainnet. According to Dr. Lucas Lu, the CEO of the CyberMiles Foundation and 5miles founder, this represents a new generation for the world of e-commerce.

The blockchain will function its personal DPoS consensus protocol. This will be an algorithm that is designed to use 19 supernodes. This will help it achieve the ideal balance between speed and decentralization. Following the announcement that there would be 26 supernode candidates, the neighborhood will choose 19 supernodes to electricity the network. This will make certain that there is on-chain governance.

Dispute settlements

I stated in the past how CyberMyles ought to engage its community, and one of the major attractions is the capacity for humans to participate in a number dispute settlements. This would put off the steeply-priced middlemen of purchaser support. CMT (CyberMilesToken) ought to then act as a settlement currency, therefore motivating humans to be section of the choice making and earn tokens in the process:

  • Two agreeing events put up a deposit of CMT for their transaction. If each human are pleased with the trade, a clever commercial enterprise contract will routinely send again their CMT respectively.
  • If any dispute happens after the transaction is finalized, CyberMiles sends a request to a pool of carrier affords from the community, where they can bid to act as an arbiter.
  • The arbiter ought to be every day with the aid of both parties to get full get admission to to the transaction details saved on the blockchain, and then start working on a decision between the purchaser and the seller.
  • When the arbiter makes his final decision, he receives the deposited CMT from the losing birthday celebration as payment for his service. 

A decentralized identity management platform

Keeping non-public facts on a centralized community is a unstable move. As a result of simply one security breach, thousands and thousands of clients’ sensitive data could be bought to the best possible bidder. Giving the strength to the genuine holder of the data appreciably decreases this risk, and the person will be allowed to decide who receives to view their information. This is only feasible thru blockchain-based clever contracts, which is what this platform will offer its users.

A peer-to-peer small commercial enterprise loan marketplace

All successful companies started somewhere, and in the future, CyberMiles will be that somewhere. Credit histories can be recorded on the blockchain based totally on records provided by means of users via the aforementioned decentralized identification management platform. Through smart contracts, these loans would then be automatically settled the use of CMT. No center man and no widespread paperwork.

How CyberMiles differentiate from other digital currencies?

1. Unlike other cryptocurrencies like Bitcoin, Bitcoin Cash and Ripple, which tries to replace the existing distributed exchange platforms, CyberMiles CMT is a blockchain platform intended to revolutionize the e-commerce business industry.

2. CyberMiles has designated to use the (DPoS) Delegated Proof-of-Stake agreement over the Proof-of-Work (PoW), which is operated by Ethereum and Bitcoin.

3. Even though CyberMiles is inspired by Ethereum, It has improved numerous issues that lie in Ethereum blockchain. CyberMiles has built up an improved blockchain protocol with its very own Smart Business Contracts.

4. The Smart Business Contracts are a group of contracts, improved for e-commerce utilization. These agreements likewise inspire an easy app development by permitting application developers to get to reusable templates embedded into the CyberMiles blockchain.

5miles data migration onto CyberMiles blockchain

During an AMA session on Jan. 17, Dr. Lucas Lu, CyberMiles’ co-founder and CEO, broadcasted that 5miles has started its migration on top of the CyberMiles blockchain. Once the data of 5miles’ 15 million users has been migration, 5miles users will be able to make transactions with no middleman — the wave of the (blockchain) future. This will ensure the safety and transparency of all parties involved in marketplace transactions.

CyberMiles and 5Miles are committed in innovating the e-commerce world where the concept of a winner has no place. To do that, CyberMiles has created a blockchain that allows decentralized networks. People benefit from a fairer distribution of profits: products become cheaper for buyers and sellers with lower costs. Business becomes easier, faster and easier to use.

CyberMiles utility token CMT

CyberMiles has a total supply of 1,000,000,000 CMT. The peak price of CMT so far was $0.5838 on January 7, 2018. The CyberMiles ICO token crowdsale was held from September through November 22, 2017. It raised over $30 million worth of Ethereum. Around 42 percent of the total supply (420,000,000 CMT) was sold during the public initial coin offering sale. Of the remaining supply, 20 percent was withheld by the founding team members and 10 percent was set aside for community and network development.

Because CMT is boosted for e-commerce use, it is designed to enable decentralized payment like Ripple (XRP). XRP do their transactions amongst banks, while CMT will settle transactions between e-commerce businesses and peer-to-peer finance entities.

Exchanges to acquire CMT

CyberMiles CMT tokens can be acquired on a wide variety of popular cryptocurrency exchange markets, including Binance, DragonEX, Huobi, Coineal, Bithumb, Digifinex, and OKEx. Its major trading pairs include ETH, BTC, and USDT.

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