CyberMiles and the Implementation of CMT with 5miles

CyberMiles is a new blockchain protocol being developed to revolutionize how digital commerce and online marketplaces work. Imagine a world in which buyers can purchase and promote products amongst themselves with identical confidence and certainty as they would from Amazon or Walmart. Or if individuals ought to create their own marketplaces and manage these communities in a genuinely democratic way. Now think about you should help structure this technology by way of being part of the network, that’s the world we’re creating.

Dr. Lucas Lu (founder/CEO of 5miles) has labored with many individuals of the group from previous posts at Alibaba and Light-in-the-Box and has built up the 5miles platform to its modern-day scale (12 million users an estimated $3 billion of annual transaction value) over the ultimate three years. two He has recognized Dr. Michael Yuan (Chief Scientist at CyberMiles) for years, and Dr. Yuan got here on board in 2017 as a technical expert to assist start CyberMiles. two 5miles will be a strategic partner for the CyberMiles Foundation and serve as the first large ecosystem to undertake the CyberMiles blockchain solutions.

What are the benefits of CyberMiles?

CyberMiles Technology

It is a frequent truth that most blockchains applied sciences have two important problems of low efficiency and low developer productivity.

  • CyberMiles hopes to tackle these issues via developing a new blockchain protocol known as "Smart Business Contract". The protocol works on the Delegated Proof-of-Work consensus and includes a digital desktop in addition to the capacity to get right of entry to the Middleware Stack outdoor of blockchain. This allows each node in the network to aid standardized middleware whilst strolling blockchain ledger.
  • Smart Business Contracts: CyberMiles Smart Business Contracts will run on the native blockchain, similar to how clever contracts solar on Ethereum blockchain. However, unlike Ethereum smart contracts that require every utility to be developed from scratch, Smart Business Contracts can get right of entry to reusable templates reachable in the middleware stack that is already integrated into the CyberMiles blockchain.
  • Middleware Stack: The Middleware software program stack is a set of business software program frameworks that run each and every time when a Smart Business Contract is executed. These software frameworks are integrated into each and every node in the CyberMiles blockchain network, which approves Smart Business Contracts to get entry to these frameworks outside of the blockchain. The CyberMiles Middleware Stack consists of the following components: 

Rule Engine: The Rule Engine defines positive business-oriented guidelines for Smart Business Contracts. It is used via the network validators for executing the Smart Business Contracts.

The Business Process Manager (BPM): The Business Process Manager is an employer software program that implements the Finite State Machine (FSM). The BPM facilitates the execution of Business Smart Contracts in a couple of steps. It relies upon on the Rule Engine to decide its subsequent step.

Distributed Database: The Distributed Database stores the application and framework data, aside from transaction data, which is saved on the CyberMiles blockchain itself. Since the Middleware resides on each node, the facts is routinely synchronized throughout all the nodes in the network.
Distributed File System: This provider is wished through the Smart Business Contracts and middleware provider to manage giant information structures.

Distributed Webhooks: CyberMiles integrates a net server to enable the interaction between middleware offerings and external parties. BPM wishes an enter from contracting parties to procedure the next step determined through the Rule Engine. 

How to buy and keep CyberMiles Token?

How to Buy CMT Token?
  • Users can reap CyberMiles tokens via trading on a cryptocurrency exchange. Several cryptocurrency exchanges allow CMT trading in exchange for Bitcoin, Ether, Tether and some different cryptocurrencies.
  • CyberMiles cryptocurrency is on hand for an exchange on quite a few leading cryptocurrency exchanges, such as Binance, Huobi, IDEX, OKEx, Zebpay, Koinex, DragonEX, etc. For beginners, it can get hard to compare CMT rates on each and every market individually. Instead, customers can take the help 
How to Store CMT Token?

Since CyberMiles token is an Ethereum based cryptocurrency, only ERC20 compatible wallets should be used to store CMT. Some popular options are listed below:
  • MyEtherWallet
  • Coinomi
  • MetaMask
  • imToken
  • Jaxx
  • Ledger Nano S
  • Trezor
Where do you see the value of your tokens in the medium to long term and the ultimate benefit for token holders?

We are building a new blockchain network with its own native token called CMT. However, before the network reaches production we will issue ERC20 tokens instead. People can use the ERC20 tokens very soon in the 5miles app but without the benefit of the native CMT. (For example, the ERC20 can be used to purchase services on 5miles but not yet pay for the execution of your own “Smart Business Contracts,” etc.) Once the CyberMiles blockchain goes into production we will exchange the ERC20 tokens 1:1 with the real CMT.

How is CyberMiles different from other cryptocurrencies?

Unlike Bitcoin, Which seeks to replace the current peer-to-peer transaction platforms, CyberMiles is a blockchain platform specially designed to aid the e-commerce industry.

CyberMiles has opted to use Delegated Proof-of-Stake (DPoS) consensus over Proof-of-Work (PoW), which is used by Bitcoin and Ethereum.

Although CyberMiles is inspired by the Ethereum, It has improved upon many issues that lie in Ethereum blockchain. CyberMiles has developed an improved blockchain protocol with its own Smart Business Contracts.

The Smart Business Contracts are a set of smart contracts, optimized for e-commerce usage. These contracts also facilitate an easy app development by allowing app developers to access reusable templates embedded into CyberMiles blockchain.

Should you invest in CyberMiles?

CyberMiles stands to benefit from its already established sister company — 5miles. In fact, it is a blockchain protocol being developed by the 5xlab with 5miles in tandem. 5miles is ranked among the top-ten e-commerce platforms in the US. This close partnership will allow 5miles to migrate its 12 million users to CyberMiles blockchain enabling them to use CMT tokens on its app.

If we look at the performance of CyberMiles in the cryptocurrency market, it is not hard to ignore the growth it has exhibited since its inception. As of July 2018, its price is floating near $0.16 USD compared to its initial price of $0.1030, allowing nearly 158% return on investment.

With a substantial rise in e-commerce in recent times, CyberMiles seems to possess a lot of potential for growth. Analysts believe it to be a lucrative investment for a long-term with its price having the potential to reach at $2.1 USD by 2023.

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