CyberMiles — Smart Contracts for E-Commerce (Testnet running)

The Cybermiles Testnet, a blockchain which desires to be faster than Ethereum and to be designed for E-Commerce, is currently running. The results will be published on a live broadcast on the 30. of March.

To get a better understanding, what this means for the CyberMiles project, i´ll give u a brief explanation of the whole concept of CyberMiles. After that i provide you with the newest informations and developments about 5Miles and the CyberMiles Token. At the end of the article there will be further informations about the integration into 5Miles and the big cooperation about CyberMiles and the Dallas Mavericks :).

What is CyberMiles?

CyberMiles is a blockchain, which is designed for e-commerce and mainstream adoption and aims to build a decentralized Consumer-2-Consumer platform. Many other blockchains like ethereum for example were never designed for that and here comes the advantage of CyberMiles into play. In contrast to ethereum, CiberMiles can cope with an extraordinary amount of transactions per second. The creators are describing three main attributes of the new blockchain as the following:

1 . To support a large library of commerce-related Smart Business Contracts that power decentralization of processes

1. To manage user identity & transaction data privately & safely, while enabling new transactions & settlements amongst network participants. Starting with 5miles’ 10+ million userbase, this access to user data will be a key driver
   for other e-commerce & consumer finance platforms to be built on CyberMiles

2. To utilize a delegated-PoS (“Proof-of-Stake”) consensus engine to support tens of thousands of transactions per second (“TPS”), hence resolving latency issues of existing chains.

If they can successfull implement these points into their blockchain, it will be a superior blockchain with many new innovations and a token, which can be used for new ICO´s.

I found a recently announced video on their official youtube channel, which i want to share with you, because it explains the whole concept in a very detailed and informative manner:

Who is behind this new blockchain?

First of all the CyberMiles Foundation, which will be incorporated in Hong Kong, will work together with the well known 5 Miles (LLC) to develop the new blockchain. 5miles is a free marketplace app and one of the fastest-growing online shopping ventures in the US. 5miles launched in January 2015, aquired more than 12 million users and has established itself as one of the Top 10 Shopping apps with USD 3 billion in annual transaction value.

As we can see, its a major corporation behind this project and not an anonymus team like in many of the ICO´s appearing these days.

The CyberMiles Token

The CyberMilesToken (CMT) will be initially implemented on the Ethereum blockchain as an ERC-20 Token, while the CyberMiles protocol is beeing developed. When the own CyberMiles protocol is finished, it can be exchanged on a 1:1 Basis. The CyberMilesToken will fulfill the following purposes

1. Rewarding and incentivizing community members to contribute computing power and maintain the integrity of the network.

2. Incentivizing community members to provide value-add services, such as peer-to-peer customer support and conflict resolution services

3. Facilitating transactions within the network

1 Billion CyberMilesToken will be generated intitially. The amount of the maximum supply of CyberMilesToken will expand over time, but is limited to a maximum of 10 Billion. In the following chart u can see the allocation of the first 1.000.000 tokens:

While 700 Mio will be offered during the Initial Coin Offering, CyberMiles and 5 Miles will get 100 Mio each for developing and operating the technology and the foundation. Aditional 100 Mio. will be hold in reserve for future releases to end-users. This will be a very important aspect to further increase the usage of CyberMilesToken and make them available to a broad mass. 250 Mio CMT already got sold at the PreSale, that leaves 450 Mio CMT for the public Sale, which will start on November 21.

The the delegated Proof of Stake mechanism will be developed to effect the targeted outcome of 8% annual increase in total number of tokens, until the 10th anniversary of the close of the Token Contribution Event. The targeted inflation schedule and the projected coins in circulation are projected in the following charts:

In comparison to many other cryptocurrencies this is a very moderate inflation, which is needed for a big liquid market.

Why CyberMiles will be a succesfull project?

The blockchain will be developed and operated in cooperation with a major company and by a team, which is highly experienced in the field of e-commerce. The team has proven to be successful in the past and after the InitialCoinOffering they have the funds to ICO is finished, they will have the funds to further develop the blockchain and integrate CyberMiles into 5 Miles. Also they will have the money to invest in marketing to further increase the awareness of 5 Miles and the CyberMiles blockchain. In the following chart you can see the use of the generated funds:

As mentioned above, CyberMiles will be a own mode of payment integrated into 5 Miles, which has a massive amount of customers (over 12 million). This could lead to a massive demand for CyberMilesTokens and may increase the value of the tokens over time. Another indicator for a big demand for CyberMilesTokens is the fact, that the Pre-Sale got sold out pretty fast and CyberMiles and 5 Miles is a high trending topic on the internet.

So, what happened between the ICO and today?

We had a Price increase of CMT up to 0,58 USD (9x ICO Price) and it is currently trading at 0,10 USD. The reason for the decline is mostly to find in the current bearish cryptomarket and not in the Cybermiles project itself. On a positive side, CMT is still trading above the ICO Price, which many ICO´s from the same time are not doing today. In the recent days CMT traded even above the average return of the Top 200 Cryptos and is holding well compared to them.

On a product view, CMT has some relevant advantages compared to ETH and is especialy designed for E-Commerce (see grafic below).

This is also the reason why the testnet is so important for CyberMiles. It aspires to be a confirmation of the technical advantages and could be a positive sign for the development of the mainnet and the own CMT-Blockchain.

CMT already integrated into 5Miles

5Miles integrated CMT prior to the planned launch in the end of january. It is possible for over 13 Mio. customers to use CMT as a payment method and earn CMT inside the application. This also gives many newcomers a shot to earn their first cryptocurrency and get more involved into the crytosczene.

5miles/CyberMiles and the Dallas Mavericks ???

One huge news, which was announced in the beginning of March, was the collobaration of 5miles/CyberMiles and the Dallas Mavericks. As of today, you can buy tickets for Dallas via cryptocurrencies and CMT.

In the following video you can see the explanation of Marc Cuban, the owner of the Mavericks, why cryptocurrency and especially CMT can be used as a very secure, safe and reliable payment method.

Overall, this gives CyberMiles great exposure to a broader audience and can fasten the spreading of this incredible powerful project.

IF, and thats a question for every project, CyberMiles can come along with his targets for this year, im seeing a great future for the project and the CMT-Token. It fills a gap in safe payment methods for E-Commerce and is doing very well in terms of product development since the ICO.

Further Informations

ANN Thread Bitcointalk: https://bitcointalk.org/index.php?topic=2344875
Project Whitepaper: https://cm.5miles.com/file/project/Project%20white%20paper_en-US.pdf
My Bitcointalk Account: https://bitcointalk.org/index.php?action=profile;u=1255367