Cybermiles: A Revolutionary Block-Chain Breakthrough to E-Commerce World

The technology in e-commerce world has advanced at a fast pace following the changing needs of institutions and industries. In the past, most of the people are only familiar with Bitcoin when talking about cryptocurrencies as payment sources in the virtual world. However, those who think that Bitcoin's scripting language has been outdated started trying to find the alternatives for market improvement. Then, following the success of Bitcoin, there is a new open source blockchain called Ethereum in 2015featuring smart contracts within its scripting language.

The cryptocurrencies' technology has moved faster as always. Ethereum has been criticized for still lack of efficiency. Thus, there is a new generation of blockchain protocol that was trying to improve what hasn't been provided by Ethereum. It is Cybermiles that has designed to be a competitive rival to other cryptocurrencies.

What Should You Know about Cybermiles?

From developing lab of 5xlab, CyberMiles Foundation designed a new block-chain technology to optimize business and marketplace application. The developing team including Michael Yuan, Lucas Lu, and many others realize that the current generation of block-chain needs an improvement to find a solution for the lack of efficiency and productivity. In so, they try to develop a new-generation of a block-chain protocol as an alternative. Here is a start of new block-chain presented, called CyberMiles.

For this project, the 5xlab works together with 5miles LLC, a leading e-commerce company in a customer to customer market. This 5miles (Website: https://cm.5miles.com/) company developed a favorite shopping app that has more than 12 million users in the United States. As the first platform for launching the product, the extensive public exposure from 5miles enables this first block-chain protocol from CyberMiles to reach more people. So, CyberMiles has high expectation to be one of the most used cryptocurrency globally in the future.

The CyberMiles is designed as a new block-chain protocol to revolutionize the current work of commerce and marketplaces. Thus, CyberMiles develop a new block-chain protocol called "Smart Business Contract" that not only based on a virtual machine but also handled by decentralized applications (DApps). The protocol will run to build an extensive library of the reusable software components and standardize them. Unlike Ethereum business contracts that write each application from scratch, Smart Business Contracts business access integrated software middleware frameworks that include a rule engine, business process manager, distributed database, distributed file, and data storage services, also distributed webhook services. These smart business contracts are highly profitable for small-scale or start-up businesses to decentralize their applications on e-commerce.

CyberMiles has developed to support e-commerce applications that can keep the records of a vast array of commerce-related transactions and contracts between two parties online too. If it is in the marketplaces, then the two sides can be buyer and seller or another form of business relations. The efficiency can be boosted if more transactions can be done in a short time. So, CyberMiles designed a Proof of Stake (PoS) engine that can process about 10,000 operations per second. It shows a 0.001% difference from Ethereum that can only process ten transactions per second. A vast array transaction process will promote efficiency as more transactions can be done only in a split of the second.

What are the New Attributes from CyberMiles?

Several attributes make CyberMiles different from other cryptocurrencies, including:

1 Smart Business Contracts

If Ethereum has Ethereum Smart Contracts, then CyberMiles also design its own integrated “smart business contract” software. Through these integrated contracts, CyberMiles will expand a variety of software tools in the block-chain with more superior user experiences than the Ethereum. These smart contracts enhance the computing proficiency so the e-commerce users can have a more efficient platform for performing and finalizing their transactions on a timely basis. Users can create Smart Business Contract templates and reuse them by only changing the critical parameters. So, they can reduce business applications building cost and increase the value of their network. Not only they will have an easier time to build their e-commerce applications, but they also will have more efficient transactions within a short range of time so it can help to increase their revenues. In this way, buyers and sellers can have a good transaction with higher certainty to maintain a more credible market system.

2 Proof of Stake (PoS)

If Ethereum only can support about ten transactions per second, CyberMiles offers more. Developing a consensus engine called Proof of Stake (PoS), CyberMiles designed a more decentralized and scalable technology that can support 10,000 business transactions in seconds. It gives thousand multiple integrations for a more highly efficient marketplace. PoS will keep the user’s data during migration into CyberMilesblockchain protocol and technology. The data include the identity, credit history, log, financial transactions, and other related data from over 12 million users based in the U.S. All of this process will prioritize the security to keep every user’s privacy.

3 CyberMiles Tokens (CMT)

There will be a new cryptocurrency platform for the CyberMiles block-chain called CyberMiles Tokens (CMT) (Whitepaper: https://cm.5miles.com/file/project/Project%20white%20paper_en-US.pdf). The CMT is designed to solve the liquidity problem to traditional cryptocurrencies in order to improve a more secure trading system in the marketplace. This liquid currency utilizes the natural crypto token so it can facilitate the decentralization of transactions' clearing that compatible with several e-commerce applications. Currently, the circulating CMT in the market has been up to 1 billion CMT. Now, the value of 1 Ethereum token is equal to 7000 CMT. It is showing that CMT has been a new cryptocurrency that gets an excessive adoption by the users related to e-commerce issues.

What are the Benefits Joining Cybermiles?

So, what is going to be the reason why people have to consider start shifting their cryptocurrency’s need to Cybermiles? These following reasons could be the answer:

1 Improving a better marketplace system

The current marketplace allows sellers to include various features to enhance their business including shop and product descriptions, statistics, ratings, and many more. The marketplaces also allow the buyers to have a communication with them before dealing the transactions. However, as the trend is increasing and lots of people access market every day, the platform gets too busy to handle all the buyers and sellers. This condition may turn the network down and give too long responds. Moreover, fake sellers have a chance to utilize the marketplace to sell products from the real sellers to their fake shop. In the end, not only sellers but the buyers will face the consequences and get a higher price than the real price.

In so, CyberMiles Foundation is working together with 5miles to resolve the problem. Here, 5miles has been known as online marketplaces that offer useful and comfortable features for the users. Moreover, 5miles also provide dark stuff detector and users verification technology to increase the security of their platform. Then, both companies invent a smart business concept to develop more innovation for better marketplace system with the best procedure and high security. The new technology of block-chain will also handle the latency chain that happened in the current business marketplace. Although the sellers or buyers handle complex transactions in e-commerce, the smart business concept will help to decentralize the contracts. In this way, not the only seller, but the buyers also will get the maximum profit for their transactions.

2 Developed by the experts

As repeatedly mentioned, CyberMiles Foundation develops this new technology of block-chain along with 5miles, an e-commerce company that has been recognized by a wide range of users.If the prior block-chain developed their technology in advance then they would find the right application later which tend to inefficient and uncertainty results. However, 5miles allow CyberMiles to develop by using their shopping applications to establish a better block-chain technology. So, 5miles was able to provide a distinct ecosystem for CyberMiles, so 5xlab was able to develop the precise block-chain project to meet the demands of the marketplace. This proper condition allows CyberMiles to expand the scalability in a market application.

Moreover, the company teams consist of the only expert with high experiences in internet, e-commerce, and financing world. It is the reason why 5miles was able to gain the predicate as one of leading shopping applications in the U.S with more than USD 3 million for annual transaction costs. Work along with the experts, the block-chain of CyberMiles received funds for about USD 62 million to ready give a revolutionary breakthrough in the e-commerce world.

3 Wider scalability

As 5miles provide a platform for a new generation of block-chain technology to develop, CyberMiles was able to get a wider scalability for the development to reach the users. Almost all the transactions and interactions using the 5miles application are point-to-point between the sellers and users. Each of them has an active role. Moreover, 5miles has already a great record in the marketplace with the active and high number of users. Those point-to-point transactions between the communities are ideal for decentralization of the block-chain to give transpiration and efficiency to the bigger marketplace.

4 Better business contracts

The main attribute from CyberMiles is their new integrated smart business contracts. In the business contracts from CyberMiles, the users can find applications module that can be licensed or developed to meet the needs of the platform and their partners. Since the contract’s modules have been verified in the 5miles application systems, so this technology can be applied to other platforms. So, if there are relevant agencies who want to collaborate with CyberMiles smart business contracts, this platform can be the solution of them.

5 Dispute settlement

CyberMiles also bring another attraction that can be used in the dispute settlements. Here, CMT can be used as a settlement currency reducing middlemen cost of customer report. In this way, CMT will be able to motivate people as a part of the decision making. They will be able to earn tokens in various processes. For example, when two parties agree to put up CMT deposit for their transaction, a smart business contract will automatically send back the CMT to them respectively. If later comes up any dispute after the finalization of a transaction, CyberMiles will send a request to service providers in the community to act as the arbiter. However, the authority must be accepted by both parties. After getting accepted, the arbiter gets full access to the details of the transactions that stored on the block-chain. Then, the arbiter can start to work on a resolution between the seller and the buyer. In the final decision, he will receive a payment in the form of CMT that deposited from the losing party.

6 More efficient

The traditional block-chain technology is often lack of efficiency due to too much focusing on decentralization and compatibility between the networks. It leads to limiting the attractiveness and functionality of final applications. In order to solve the problem, CyberMiles is focusing on commercial applications that develop a protocol to ensure the balance between vertical effectivity and the compatibility networks that minimize the DApps with low quality to appear in the chain. Moreover, rather than creating a marketplace which controlled by only a few of people, CyberMiles want to support the communities to participate in all the proceedings of a consumer to the consumer marketplace. In other words, CyberMiles was able to bring a new revolution of decentralization in the marketplace by making democracy as a basic principle. Decentralization offered by CyberMiles allow for the more stable network where the failure risk of a data center can be reduced with a high availability of network nodes in 24/7 running.

CyberMiles can provide what hasn't been able by the traditional block-chain technology in the e-commerce world. This revolutionary breakthrough from CyberMiless establishes the first block-chain with business applications that have been run with long world experience. Thus allow CyberMiles becomes one of the largest existing block-chain networks to boost the efficiency and profitability in the marketplace. Moreover, CyberMiles also want to reduce the risk of fraud by prioritizing credibility and transparency. The block-chain system will help to keep the records in the every transaction process and reduce human error practices.

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