BUMO: THE UBIQUITOUS TRUST NETWORK

1.0 ABOUT Blockchain

Blockchain is considered around the global world as an innovative changer to our technologies.

It has proven to have make difference in mostly specific area of our technologies that has brought a large development to many industries such as “medical industries”, “technical industries”, ”monetary industries(exchange, transfers and more)’and lately our “internet and service providers industries”. Blockchain as today change our technology world by establishing many decentralized system to our technical level that make most of them to be secure, safe and easy to use, many decentralized system has been successful in the area of cost, that makes many users to use technologies not thinking about cost anymore because it has specifically improved it from the area of cost by cutting down the problem of high cost.

1.0.1 BLOCKCHAIN FROM INFORMATION TRANSFER TO SAFE VALUE DELIVERY

Looking at flashback when information can only be pass by only travelling down to where receiver of information is located before information is located before information can be passed across. This creates the excess of cost and stress to the deliverer of information.
But today internet have solve a lot of these problem, though quarter of these problem solved but some problem still persist when sending information.
Blockcahin today have solved the problem of internet and these also have made the internet solved problem of information transfer perfectly than the previous time. People can transfer information very conveniently on a low cost.

1.2. BLOCKCHAIN SOLUTION TO INTERNET

The blockchain technology like it’s said to have change many industry for the better, so also has it solve key problem which are distributed to a dynamic network putting the internet on time ordered, tampered proof, cryptographic books, consensus mechanism under a unified rules and intrinsic mechanism.

1.3 BLOCKCHAIN ON TRANSACTION AND DISTRIBUTION OF BUSINESS

Blockchain technologies have been improve to the areas of transaction where intermediaries and transfer values are been chopped off in a transaction that involve two parties. The transaction is being recorded in a public and anti-interference distributed book in the form of a time blocks. The values have been represented by a digital value that makes it possible for different trading parties to enter the distributed ledger.
The biggest feature of distributed business model driven by the blockchain are:

1. The basic technology architecture is embodied in the zero marginal cost under the digital rule.
2. The value creation mechanism is embodied in the zero marginal rule
3. The value growth mechanism is embodied in the “moore law” that is once crossing the inflection point, exponential growth will be realized immediately
4. The organizational mechanism is embodied in taking the community autonomy platform organization and ecosystem as the operation architecture
5. Cooperation mechanism is embodied in depending on consensus rather than instructions.
   BUMO Whitepaper

1.4 THE BOTTLENECK OF BLOCKCHAIN BUSINESS

However, Blockchain has attracted a worldwide attention in the believe of people seeing blockchain technology as a turnaround to all business but according to research there are still many bottleneck in the current blockchain network such as:

• Performance Problem-
  Where the bitcoin and ethereum and other digital money platform can handle only few transaction per second.
• Energy Consumption
• Application Threshold
• Value Isolated island

In conclusion

Are we seeing solution coming? YES - I know about the team that is intending on creating a new generation of the value circulated Ubiquitous Trust Network that will allow “Value” to flow freely like just simple “Information”.
Introducing BUMO!!!

2.0 INTRODUCTION

What is BUMO?

BUMO is a blockchain based project that is aim at establishing a network ecology that will be trusted and will allow the free flow of value like information, with the intention of utilizing the existing smart device.

2.0.1 BUMO Slogan

BUMO ability to be the first trust network that enable value circulation to be credible and efficient. They enable power belongs to users and let the users master their digital ownership. BUMO is called by the slogan:

THE UBIQUITOUS TRUST NETWORK

2.1 BUMOBenefits to users

BUMO intention is to enhance people lives over the digital economy that will create befitting benefits in ways like:

READY TO USE

Just like it is said one of the bottleneck of the blockchain business is the performance problem, this make users creating time space before proceeding on different transaction in order not to encounter any transaction problem. BUMO intend to be of a benefit to users by establishing a network ecology that will support thousand and thousands of transaction per seconds without network difficulty.

DEVELOPERS FRIENDLY

Developers has face difficulty in dApp deployment for a long period till present due to inefficient and unreliable network but BUMO has created a trusted network nodes that will allow easy and smooth deployment of smart devices.

2.2 BUMOTeams

In every successful project, there is always a brain behind its succession. BUMO team consist of:

2.2.1BUMO Teams Focus

BUMOteams are focused on enhancing ease of transfer over various networks within the internet and social network industry.

THEIR WAYS

By connecting digital assets, smart devices and user data.

THEIR RESULT

Successful

2.3 BUMO Vision

BUMO vision toward the blockchain is single out as:

• “UBIQUITOUS VALUE TRANSFER”*

What is Ubiquitous value transfer?

It is a global network that enable tokenization of any assets “Based on the infrastructure of BUMOpublic chain, all assets could be tokenized, no matter they are loyalty points, game points, insurance, financial assets or even some fixed assets or reality assets in circulation, make them easy for transferring, and enable these value to be circulated freely around the world and difficult chains”

3.0 Content(Inside BUMO)

Ubiquous Trust Network

Network Composition-

BUMO network is completely an open and autonomous that seamless link the physical work with blockchain world. There contain a state whereby any device around the world can join the network performing as a node that will contribute to the network maintenance, application development and value creation.

The physical composition is a technology that allow smart device of different to perform as node and make full use of idle resources in the sense of reducing the threshold of users. These will make network to be more open and autonomous.
The BUMO physical composition includes:

• Nodes
• Candidate Node
• Validation Node

Nodes-

These are intelligent device which are connected to the network, there are characterize as an open and autonomous device.

Candidate Node-

These are selected node that has applied to be a candidate node. So any node that qualified first who has passed the election/lottery will become a validator node and generally these are determined according to network scale and performance.

Validator Node-

These are selected node through the use of election/lottery and it is responsible for accounting of whole network and resources dispatching and also is rewarded with network transactions cost.

Consensus Mechanism

Read from BUMO Whitepaper

Incentive Mechanism

BUMO incentive mechanism is the BU-token which is built in a native encrypted digital token used to measure the digital economic activities on BUMO.
The fee associated pay is referred to as GAS, a payment resources that is been measured by BU.
GAS is been quantify by two divide parts which are the:

• Storage and network fee
• Calculation fee

Storage and network fee

is the part related to the type of transaction as well as the size of the storage.

Calculated fee

is the part that allocated with the free allocation of a certain amount according to the BU weight held.

BUMO network allocates time to execute smart contracts based on the number of BU. The more BU held, the longer the execution time.
The GAS resources consist of:

• GAS adjustment mechanism

• GAS adjustment algorithms

• GAS allocation mechanism
  Read from BUMO Whitepaper

• Gas adjustment algorithms
  Read from BUMO Whitepaper

3.1 Smart Contract

What is smart contract?

A smart contract is an executable performance of credible transaction. After contract is triggered, transaction has its own engine allocated to run the contract accomplishing through the business logic. The smart contract execution environment in BUMO is called the BUVM (BUMOvirtual machine) that provide the control logic for the application layer combining with upper high level language parsing and transformation. It has enough template that allows users without development background to be able to create high level application.

At the same time BU contract will support two ways in order to coordinate the data in the real world outside the chain and they include:

Real data Contract

It is established to generate and maintained by the data provider where deposit is paid for its data.
Note: The moment there is a wrong doing, the validator and other participant would vote for deduction of the deposit.

BUMO Oracle

This is an oracle machine that notifies machine of data to be obtained by means of event trigger which programmed into its smart contracts.

3.2 Cross chain interoperability

BUMO proposes two blockchain crosschain transaction which are:

• Isomorphic interchains (BU Orbits)
• Isomeric Interchains (BU canal)

BU orbits
its purpose is to address problems faced by the existing single chain system.

Advantages

• “Support differentiated child chain diverse technical characteristics, different child chains can customize the key operation parameter of blockchain”
• “The creation and consistency of the child chain and the separated storage chain book”
• “The overall book structure of has and index”
  BUMO whitepaper

BU canal
“It aim to realize the leap of different blockchains from “value island” to “connected”. In the blockchain world represented by Bitcoin and Ethereum, the nodes of each blockchain verify their own chain transactions and establish independent and vertical autonomous systems, so that these blockchain gradually become “value island and are increasingly more like “LAN”.

Advantages

• “Bridge value routing of the blockchain of the same different architecture”
• “Free flow of value can be realized between different blockchains”
  More information on
  BUMO whitepaper

3.2 BUMO Application Ecology

BUMOis intended on existing expansion of application boundary on the blockchain technology that will provide a standard protocol they will attract more Dapp application to join the network.
BUMO is built through design principles that support the Dapp access in different industries, such as (finance, gaining, social and internet). It will create reliability in ensuring fast and efficient Dapp access and at the same time reduce development costs.
“BUMO principle is based on usability in order to meet actual need of expansion in different industries to provide support for global application developers to jointly build a value system linking to the globe”.

3.3 Assets Tokenization Agreement

BUMO Token is a token that can be adopted to different application and can also be reused by other application. BUMO Token holders used to have full control over assets. So in this case the token compliance can track how monetary token owned by user any time.
BUMO Token offer two different assets tokenization agreement which are:

• i. Account based tokenization
• ii. Contract based tokenization
  Read more from ……….
  {BUMO whitepaper]
  

3.4 BUMOToken (BU)

BU Token is a encrypted digital token used by BUMO and it is acquired by user for transaction settlement and contract fulfillment on the blockchain. The token is value on two points which are:
i. A certain quality of BU is consumed as the fuel in the application of BUMO.
ii. To be able to participate in BUMO community.

BU include but are not limited to:
GAS – TO execute trade or contract on BUMO network.
Bookeeping award – BUMO validator node reward.
Community incentive – BUMO use BU to motivate community developers and contributing users.

3.4.1 How to Acquire BU

• Acquiring of GAS in transaction or contract execution as a validator node.
• Bill transfer between BUMO accounts
• Participation in early donation support projects by exchanging with ETHEREUM.
• Other ways
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4.0 Summary of BUMO Benefit

BUMO is the first ubiqous network that intends to create value circulation to the new generation of blockchain, they also create more benefit to users doing different communities such as:

• Free flow of digital asset that create a new cross domain circulation on the magnitude of value.
• Acting as a universal that enable data to be traded seamlessly.
• Will eliminate poor communication protocol among different device.
• Elimination of high cost of network performance
• And more…

4.1 Conclusion

BUMO intend to change the way network work on the blockchain technology putting and end to performance problem to enable the development of the blockchain technology.

Try BUMO!!

For more information and resources

BUMO Website
BUMO Whitepaper
BUMO Technical Paper
BUMO Telegram
BUMO Reddit

bumo2018

Twitter Link

https://twitter.com/dotmangraphics/status/1051873125405786112
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