INTRODUCTION
Internet Technology has proved over the years to be a helper of man interms of communication, research, data transfer and most especially economic transactions. So many ways and means has been imployed to maintain security and transparency in internet transactions, one of which includes through blockchain.BUMO is believed to be the next-generation commercial-grade public Blockchain for ubiquitous and trusted value transfer, which is aimed to build a decentralized application ecosystem featured with extensive digital trust, free-flowing value and public-sharing apps.Considering that the Blockchain is to some degree complex in all detects, and Knowing All of us that day by day ponder and dissect how to enhance the way of life utilizing the Blockchain.
The fact of the matter was something confounded yet not feasible. What I truly need is that it be utilized as learning change for individuals.
Mekle Partricia True
The use of Merkle will greatly cut down the time required to find out whether a particular belongs in that block or not and will save time as well, unlike other blockchains which are cumbersome and time consigning.
Advantage
The technological advantages of BUMO reflect certain innovations with respect to algorithms that benefit the block chain to facilitate the development of the system in intelligent contracts and transfers of securities.
BOMU'S VISION
Unlike most blockchain networks which encounters slow transactions, BUMO's vision lies in creating a network for ubiquitous value transfer (tokenization of any assets) ready for enterprises to use in high performance. With this, BUMO is able to solve or render a solution to one of the problems facing public blockchain technology.
INCENTIVE SYSTEM
BU-Token is the token native to the ecosystem, and it is used to gauge activities that occur within this ecosystem. Seeing transactions initiated will use up resources on the blockchain, measuring how much is used, and ensuring payment is made in GAS, is necessary.
SMART CONTRACT
The coordination of data and the physical world is done via BuContract, and there are two ways this can be achieved.
Real data contract is created and maintained by the data provider, while a deposit is paid for its data.
By making use of the oracle machine (BuOracle, BUMO Oracle), it is notified by the contract about the data that is needed via event trigger. This will go back to the virtual machine, after being processed by the oracle machine.
BENEFITS OF BUMO
The IoT industry is on the rise and will only continue to grow-at a rapid pace. It is estimated that there will be 45 billion IoT devices by 2020.
Intelligent devices can create value, whereas, non-intelligent cannot. Devices that can compete and trade in real-time ensure that flowing markets are created from the real world.As time goes on, there will be a higher number of transactions initiated. These will need to be processed quickly, to meet the needs of users. From its service layer, to its technical layer, technical extension layer, along with the underlying blockchain technology, BUMO ensures that the needs of users will be adequately met.
Slow transaction speeds ensures that transaction throughput is low and cost of transactions are not feasible.
Orbit Architecture
The main chain is in charge of the overall maintenance of the ecosystem and responsible of selling the validators of the sub chain block processes and storing the cast state of the sub chain. While the child chain is either a single sub chain or a collection of sub chains which is designed in line with the needs of particular business who are developing on top of BUMO chain. This feature will help eliminate the difficulties encounter in the Dapp and also high-level Dapp.
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