OVERVIEW:
With the advent of Blockchain technology which have garnered a lot of attentions in recent times having provided a huge industrial payment solution, providing reasonable income sources and industrial support with a growing marketcap of over $200B makes a lot of reasons for one to buy into the blockchain technology of CyberMiles.
The Ecommerce industry is one of the fastest growing market in the world and has hit 5 trillion Dollar in marketcap, this growth however was achieved despite the many lapses and difficulties associated with the industry especially with regards to ease of payments, charges, government and banking policies with its related limitations has created the need for CyberMiles to provide blockchain payment solutions to the E-commerce Industry.
ECOSYSTEM:
CyberMiles provides a decentralized blockchain platform for online commercial activities developed under etherium contract with the ticker as CMT being an ERC20 token. Although CyberMiles is inspired by Ethereum, It has improved numerous issues that lie in Ethereum blockchain. CyberMiles has built up an improved blockchain protocol with its very own Smart Business Contracts.
The Smart Business Contracts are a group of contracts, enhanced for e-commerce utilization. These agreements likewise encourage an easy app development by permitting application developers to get to reusable templates embedded into the CyberMiles blockchain.
CyberMiles is a product of a U.S based Ecommerce marketplace app known as 5miles which prides itself at having over 15 million users. It is aimed at replacing popular ecommerce marketplaces like Amazon, Alibaba and eBay with a suite of smart contract-based tools.
On October 15, 2018, it launched its Mainnet which heralded its migration from the original etherium blockchain to its native CyberMiles blockchain to be independent of the etherium's limitations and be able to add new functionalities to the existing network.
CYBERMILES BENEFITS:
There are two major issues of blockchain technology that CyberMiles technology tend to address which are low efficiency and low developer productivity which it did by creating a blockchain protocol called "Smart Business Contract". The protocol works on the Delegated Proof-of-Work consensus and includes a virtual machine in addition to the ability to access the Middleware Stack outside of blockchain. Smart Business Contracts can access reusable templates available in the middleware stack that is already integrated into the CyberMiles blockchain.
LATEST DEVELOPMENT:
CyberMiles (CMT) recently had the data migration of then e-commerce application 5miles onto CyberMiles blockchain which took place on the on May 14th, 2019. The implications is that more than 15 million users of the 5miles marketplace app be automatically placed on the CyberMiles blockchain which implies an increased usage and growth of CMT. This is a huge development as 5miles is ranked among the top-ten e-commerce platforms in the US. This close partnership will allow 5miles to migrate its 15 million users to CyberMiles blockchain enabling them to use CMT tokens on its app.
CYBERMILES IS DISTINCTIVE:
CyberMiles is different from other cryptocurrencies in a number of ways, firstly, CyberMiles selected to use the (DPoS) Delegated Proof-of-Stake agreement over the Proof-of-Work (PoW), which is utilized by Ethereum and Bitcoin.
CyberMiles has built up an improved blockchain protocol with its very own Smart Business Contracts thereby improving on so many issues that lie in Ethereum blockchain. CyberMiles is a blockchain platform intended to help the e-commerce business industry unlike Bitcoin, Which tries to replace the existing distributed exchange platforms.
The CyberMiles Smart Business Contracts are a group of contracts, enhanced for e-commerce utilization group of contracts, enhanced for e-commerce utilization, these agreements likewise encourage an easy app development by permitting application developers to get to reusable templates embedded into the CyberMiles blockchain.
PRICING AND TOKEN ECONOMY
Since its launch on November 21, 2017, CyberMiles price has been developing with clear market fluctuations The market instability had made its value reach as high as $0.583862 being the peak price of CMT so far on January 7, 2018. Starting in July 2018, the value by all accounts lingering around USD 0.16 mark until it is currently very low at USD 0.037 currently being heavily affected by the bear market, but it is expected to have another spike going by recent developments of 5miles app data migration as well as good signs of the crypto market recovery from the bear season.
The CyberMiles ICO token crowdsale was held from September through November 22, 2017. It raised over $30 million worth of Ether. Approximately 42 percent of the total supply (420,000,000 CMT) was sold during the public ICO sale. Of the remaining supply, 20 percent was withheld by the founding team and 10 percent was set aside for community and network development.
As of now, 800 million CMT tokens are available for use from the total supply of 1 billion CMT tokens and it currently ranked at number 149 on coinmarketcap.
Okex, Digifinex, Dragonex, Binance, Huobi, IDCM, Coin Coineal, Bithumb, Cobinhood and Bibox and are found BTC, ETH and USDT as trading pairs.
CONCLUSION:
The whole CyberMiles Ecosystem is very exciting as it gives every player within it a comparative advantage and benefit, It will revolutionize the ecommerce industry when fully launched and operational. The token has a very huge potential and room for success as it is detailed in the whitepaper with plans for implementation, a huge part of its development is the successful migration of the 5miles database to its network and I am expecting the team will bring forth other giant steps to make whole lot of difference to the CyberMiles network this year.
Useful links:
Website: https://www.cybermiles.io/
Facebook: https://www.facebook.com/cybermiles
https://coinmarketcap.com/currencies/cybermiles/
My Bitcointalk link:
https://bitcointalk.org/index.php?action=profile;u=1829947
My CMT address: 0x51e3c059cef32e6dde6cd8a115aa21faff8d0dbf