What is CyberMiles
CyberMiles is a blockchain technology developed by 5xlab, a blockchain development laboratory. 5xlab works closely with 5miles, 5miles is expected to be the main platform for utilizing the CyberMiles blockchain protocol, and can also help 5xlab to develop its technology.
Over the past three years leading innovation in the online & original market, 5miles has accumulated the technical and industrial personnel needed to tailor blockchain technology & smart contracts to real-world applications. 5xlab seeks to use this experience to develop CyberMiles, with target trust and compliance. this can modify it to blockchain technology for real-world business.
The CyberMiles Foundation, in collaboration with 5miles LLC, aims to develop the next generation Blockchain that is optimized for e-commerce and designed for mainstream adoption. This project specializes in e-commerce and online markets, CyberMiles can integrate the latest Blockchain innovations to power smart business contracts on Blockchain that are very effective, and resolve latency issues associated with existing Blockchain and general use.
Its utility token, CyberMiles Token, is planned to fund & empower new e-commerce applications. During network development, the CyberMiles Foundation will assist in the governance of suburban platforms, with strong involvement by system members. they say their vision for the long term might be to create a public network that has safe and trustworthy business services for its members, and its users.
5miles plans to gradually migrate the sellers and consumers. In other words, the 5miles platform marketplace will be one in all the main environments to utilize the network as a backend service and start the ecosystem. After the network reaches critical mass, its own network effects, reinforced by incentives provided by the CyberMiles Token, are expected to be applied to partner platforms and other markets, encouraging the development of CyberMiles as the market-leading blockchain protocol. for commercial and market applications.
In this article I will try to discuss the Cybermiles project. Actually this project has been around for about a year or two and the project is already running and has valuable tokens that you can even find in large exchanges like Binance, Okex, Digifinex. But I will still discuss this project because Cybermiles is celebrating with 5Miles migrating data to the blockchain.
CyberMiles has built a very specific solution for e-commerce companies to easily spread their business on the Blockchain.
CyberMiles payment gateway is a SaaS service offered by our partners. It can be embedded into any e-commerce website to receive customer payments seamlessly in almost all cryptocurrency on the market today, including payments in stable coins pegged in USD. CyberMiles accepts all popular cryptocurrency, including BTC, ETH, CMT, and almost all ERC20 tokens. Receive stable coins pegged to USD and other fiat currencies, such as USDT and GUSD. A smooth and transparent user experience.
CyberMiles is committed to breaking the effects of the network and re-creating e-commerce where the winner-take-all-concept has no place. To make it happen, CyberMiles have created a blockchain that allows decentralized networks. Actors benefit from a more equitable distribution of profits: goods become cheaper for buyers, and sellers get lower costs. Business becomes easier and faster.
Blockchain e-commerce CyberMiles, opens a new era of decentralized e-commerce .
Despite clear demand, it is difficult for traditional e-commerce websites to accept cryptocurrency payments. Traditional payment processing companies support one or two mainstream cryptocurrency and require high fees to convert into and out of fiat currencies. The user experience of cryptocurrency payments is also bad for consumers, making them uncompetitive towards traditional payment methods such as credit cards.
CyberMiles (CMT) are cryptocurrency tokens issued on the Ethereum platform. Today’s CMT price is $ 0.03587 with a 24-hour trading volume of $ 5,434,605. CMT has an outstanding supply of 800 million coins and a maximum inventory of 1 billion coins.
Blockchain CyberMiles is optimized and coin transactions are stable. CyberMiles Validator guarantees a transparent and valid cross deposit and coin exchange. CyberMiles virtual machines support the needs needed for e-commerce scale payment solutions based on smart coin smart contracts. Some stable coins are pegged to GUSD and BTC for each use case, 100% supported by deposits that can be approved on the blockchain, High liquidity through on-chain OTC transportation.
Benefits of CMT Smart Technology
CyberMiles has built a smart contract template library for e-commerce applications in addition to coin transaction speeds, Virtual CyberMiles machines enable Smart Contracts to be calculated at speeds optimized for business needs.
Blockchain has created a perfect combination of scalability, decentralization and security. In addition, CyberMiles has implemented a pre-defense and post-recovery mechanism as additional protection on its blockchain.
CyberMiles eliminates transaction costs for the most common operations. This is obtained without sacrificing network security at all.
Migrating 5miles of user data to the CyberMiles blockchain is being implemented as planned. We have started exploring DApps e-commerce.
At the same time, the technical team is planning to upgrade the main virtual machine to support alternative gas cost mechanisms, which will greatly reduce the barriers to entering the DApp and allow far more users to experience CyberMiles blockchain technology. Based on community input and suggestions, we will also adjust the DPoS protocol award mechanism for better transparency.
5miles data migration
Smart contracts support stable coin purchases
Virtual machine update
Secure random numbers in smart contracts
Options for contract owners to pay for gas costs
Allow new wallet users to experience some DApps without acquiring CMT first
Retrieval from the wallet application (the final decision is subject to community voting)
Adjustment of the Mainnet DPoS prize mechanism
Make algorithms simpler and easier to understand
Prizes for a 7-day unstaking period
E-commerce DApps will see significant progress this quarter. The community will release C2C e-commerce products, making it easier for users to buy and sell goods. Virtual machines will also continue to see improvements tailored to e-commerce needs. At the same time, the CyberMiles Foundation will continue to contribute technology to the larger community under open source. For example, we will continue our code contribution to high profile projects such as Uniswap Exchange.
Supports decentralized escrow transactions
Build a search engine to make it easier to find e-commerce products on the CyberMiles public blockchain
Release of C2C e-commerce platforms and virtual markets
Virtual machine update
Allow complex data input and output types in smart contract functions
Supports general string libraries
Support formal verification of smart contracts
Exchange of decentralized Uniswap on-chains
Continue to provide core development resources for Uniswap
Launch Uniswap on the CyberMile blockchain
If the theme must be named for this quarter’s work, it will be open source. This quarter we will release a technology standard for creating e-commerce stores on the blockchain. Anyone who adheres to this standard will be able to create a store on the CyberMiles blockchain and start selling whatever they want. In addition, we plan to make a significant contribution to the official eWASM Virtual Machine Ethereum 2.0. We will also make our surveillance API available to third-party developers, issue the CMT Wallet SDK, and gradually expand our technology reach.
Publish standards for decentralized e-commerce and DApps contracts
Enable a more decentralized e-commerce platform to be integrated with the CyberMiles public blockchain – through an open API
Virtual machine update
Supports various standard side chains such as Plasma
First in the industry that supports the standard eWASM Ethereum 2.0 virtual machine
Supports external third party wallet archiving
Give a lookout API
Supports the CMT Wallet SDK for third-party e-commerce applications to directly use CMT and stable coins
For more information:
Website : http://www.cybermiles.io/
Whitepaper : https://cybermiles.io/en-us/cmt/whitepaper/
ANN Thread : https://bitcointalk.org/index.php?topic=2344875
Telegram : https://t.me/cybermilestoken
Twitter : https://twitter.com/cybermiles
My BCT profile link : https://bitcointalk.org/index.php?action=profile;u=1134117