Chains of blocks and cryptocurrencies.

These two buzzwords together have generated a lot of exaggerations, promises, cautions and confusions in the technological scene in the last two or three years. Despite the growing excitement surrounding blockchain and its seemingly endless applications, blockchain is still an emerging technology.

The main blockchain platforms of today, such as Bitcoin and Ethereum, are single-chain systems. With the dramatic increase in the number of blockchain users and transactions, the problems of scalability and low performance have become increasingly evident.

BUMO hopes to be a viable solution for financial institutions, non-profit organizations, health care providers and individuals.

Getting to know BUMO

BUMO has developed an innovative blockchain solution that leverages multiple-chain technology, hybrid consensus algorithms, cross-chain protocols and smart contracts. The goal of BUMO is to integrate these technologies to alleviate current blockchain bottlenecks related to performance, scalability and application diversity.

How the BUMO digital asset network works for ubiquitous value transfer

The BUMO digital network is open to all and runs autonomously. Users can add any device to the network. The purpose is to create a joint network that works with easy maintenance, development of applications and circulation of value with the purpose of creating an authentic trust in the machine.

The platform uses a BCP consensus algorithm to ensure that transactions across the platform can support scalability and security. And through the use of the cross-train protocol, users are guaranteed that high levels of scalability are easier than ever. It is said that this is due to the zero knowledge test that protects all virtual assets.

The system works through the use of intelligent contracts. The digital property is distributed free of charge throughout the blockchain network. Any path, be it institutions or individuals, can easily participate in the subsequent circulation of digital properties. It is said that the change of using a socialized broadcast instead of a single control system improves the circulation of virtual property.

Users can create their own contracts, use different DApps and create complex environments to easily improve their work and non-work environments. The tokens that are used to power the network provide a wide variety of different protocols for distribution. The provision of an asset certification agreement will facilitate the use and reuse of tokens or simply their easy-to-use wallet storage, so that users can have full and complete control of their assets.

The platform easily connects digital assets with smart devices and users. The purpose of BUMO is to be used in multiple industries through an intelligent contract and a complete ecosystem of linked systems through which value can flow.

BUMO is building an infrastructure that stands out for the ubiquitous and reliable transfer of value through high performance services, rapid system design and development, and "cold start" DAC. This allows many decentralized applications in the field of digital assets, IoT and shared economy, etc., to be implemented in the BUMO chain in a short period of time.

From the technical point of view, BUMO has adopted multiple chains, a consensus algorithm of two layers and a protocol between chains, ensuring stable performance while improving scalability and addressing the phenomenon of "islands of isolated value". In addition, the BUMO TPS figure is 2000-3000, which can satisfy the needs of common scenarios of all kinds. Therefore, according to BUMO, it has already reached an association with more than a dozen programs of electronic commerce in technology, which covers the fields of monitoring of agricultural products, tourism membership and management of commercial logistics, among others, with autonomous purchases, community e-commerce, cross-border commerce and online advertising.

In terms of building ecosystems, BUMO plans to build an ecosystem of exchange and address the problem of great difficulty for the development of applications, through chain governance, chip economy and interconnected applications.

So, how does BUMO solve the fundamental problems in blockchain development?

BUMO proposes a three-level basic public block chain development framework:

1. A ubiquitous trust network based on blockchain.

Its framework is composed of blockchain technology developed with multiple features, such as an innovative consensus mechanism, a multi-chain structure of the main chain, a main link structure of the main chain and intelligent contracts for the developer.

2. A credible value circulation system.

The BUMO block chain uses multiple tools to establish the digital identity for the transfer agreement, the transfer value transfer, the decentralized transactions and the integrated exchange of Dapp, to promote the maturation of its value distribution system.

3. An applied ecology shared by the general public.

Dapp for the blockchain can be compared to the applications for your mobile phone. Dapp not only provides users with the most intuitive understanding of the blockchain, but also the valuable support of the entire chainchain network.

To this end, BUMO hopes to attract more developers to a developer-friendly ecosystem by providing API interfaces and commonly used functions that include assets, transactions and wallets. BUMO allows developers to use DAPP in their network to build a blockchain network based on BUMO's mature code base and technical support. The architecture and code of the central system of BUMO, based on the technology of the chain of blocks of Bubi, have been examined during two years by security failures and operative failures. In addition, the Bubi block chain has already provided business services for the banking, insurance, games and tourism industries in recent years.

BUMO hopes that its innovation through the interconnection of pre-existing frameworks will help to greatly promote the development and adoption of blockchain technology, allowing digital assets to flow freely at a scale yet to be realized in the industry. 

Conclusion

BUMO mixes the Internet technology of things that is used to support access to several different types of smart devices. The technology requirements are low, so the network can be used by many different people.

It works with simple devices such as phones, tablets and routers. And since the necessary equipment is only a secondary requirement to manage digital assets, users can manage and perform a wide range of different transactions, contracts and services. At the same time, applications can be used to create relationships between users and services directly.

More Information & Resources:

Web – Whitepaper – Twitter – Facebook

This is my entry for the @originalworks writing contest: 

bumo2018

My twitter link:

https://twitter.com/dernierdiaz/status/1051889544939954177

bumotwitter

Sources Consulted

• https://blockgeeks.com/guides/introducing-bumo-blockchain/
• https://www.newsbtc.com/2018/05/14/bumo-announces-vision-future-blockchain-tech/
• https://bitcoinexchangeguide.com/bumo-blockchain/
• https://www.newsbtc.com/press-releases/how-applicable-is-bumo-a-commercial-grade-public-blockchain-aiming-to-build-a-value-ecosystem/