Bumo is a blockchain technology or network where existing digital trust and asset free circulation are established to be credible and efficient. Ubiquitous Trust Network are created by all users through participation of all users in the construction of the Bumo blockchain Network. After the Ubiquitous Network is constructed, a trustable value circulation system(smart contracts) is established, bringing about the easy flow of information in the system.
Bumo ensures the usage of intelligent devices to enhance swift communication and the exchange of value between records stored in a blockchain.
In theBumo network, components of a network serves as a mode as the collection, mining and processing of data or information with the exchange of value serves as revenues on the blockchain platform.
As we all know, one vital thing about us is our information, but the thing here is how are we sure we get the appropriate results to our information. Blockchain being trustless will allow a seamless interaction through the use of Interest of Things (IoTs).
Like I said, all components of a network or device joining the network serves as a node but only have the ability to be selected as a candidate node through the voting/lottery system. If the candidate qualifies successfully in the election process, the candidate becomes the validator node which takes the responsibility of the accountability of the whole network and also the dispatching of resources.
For more devices to join the network there are also benefits, which are:
• Helps in achieving full usage of resources
• Reduce the threshold of user
Bumo can achieve a Ubiquitous trust network through several roles, which are:
Peer-to-Peer (P2P) Network: Blockchain being decentralized, nodes can distribute their messages using the peer-to-peer (P2P) protocol.
Consensus Mechanism: it utilizes a mechanism called BU firework algorithm which ensures dynamic validation election in order to achieve high rate of transaction and also to achieve high scalability for new users.
Incentive Mechanism: Users are allowed to pay a certain amount of gas in order for an activity to be activated via the smart contract. The transaction fee can be divided into:
- Storage and Network fee
- Calculation fee in executing contracts
• BuContract (Bumo Contract)
• BuVM (Bumo Virtual Machine): the execution of a smart contract on the Bumonetwork will provide better intelligent control logic and application of the virtual machine.
• BuOracle (Bumo Oracle): The oracle here is just like an head of a department of a community, for any task to be executed , the contract needs to be fully trust the oracle machine.
• Cross-Chain Interoperability
• Minimal skill in writing BuContract(Bumo Contract)
• Debugging toola alnd editors to aid developers debug contracts properly
• Value driven economy
• High scalabilty of the network for users
• Provision of a system that can process up to 10,000 transaction per second
Ogbohu enterprise deals in the importation of different assorted drinks but one major peoblem about the business is always lack in provison of detailed data of the business.
In order to surpasss the wrong manipulation data, Bumo a host of intelligent device is mounted nto easily track all data and permanently record all data for future purposes.
More Information & Resources:
BUMO Website
BUMO WhitePaper
BUMO TechnicalPaper
BUMO Telegram
BUMO Weibo
BUMO Reddit
BUMO Facebook
BUMO Twitter
BUMO Github
BUMO Wallet
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