Online shopping! The revolutionary invention which allows people to buy things from the comfort of their homes. E-commerce, as it is more generally termed has removed the stress of travelling to multiple stores to find the right products; no more having to deal with over-enthusiastic sales persons; no more standing in long queues at the checkout counter of shopping malls. E-commerce has certainly changed the way we shop for the better. But like every other technological conception, the world of e-commerce is not all roses. Despite all the efforts of e-commerce companies put in to better the industry, there are a few problems that customers still have to face while shopping online. Blockchain technology has been able to touch every area of our social lives these days. It's decentralized nature brings flexibility and transparency to any sector that it is applied to. There a project that has decided to use the blockchain technology to make e-commerce more secure and flexible for all the stakeholders. Come with me as I give a simple and direct review on this project; the CYBERMILES Project!
INTRODUCING CYBERMILES
CyberMiles is developed by CyberMiles Foundation. CyberMiles is a next generation blockchain designed and optimised for e-commerce and for mainstream adoption. By targeting on e-commerce and online marketplaces, CyberMiles with collaboration of 5miles Holdings Limited will integrate the latest blockchain innovations to power Smart Business Contract on a highly effective chain to unravel the delaying problems associated with existing blockchains. The utility token which is CyberMiles Token (CMT), is the master token to fund and empower the new e-commerce applications and projects, just like how Ethereum is used for the current generation of ICOS. It is most worthy of note that CyberMiles is fully compatible with Ethereum and can run all Ethereum smart contracts and Dapps! Their official site's statement says that it's a hundred times faster than Ethereum in terms of completed deals or transactions per second! Throughout the network development, CyberMiles Foundation will be supporting the governance of the decentralized platform, with the strong involvement by members of the ecosystem.
5 MILE TO CYBERMILES MIGRATION
5 miles planned to be the first ecosystem to leverage on the features of the blockchain technology to provide users a great experience using cryptocurrency. With this in mind, Cybermiles foundation had created a token known as CMT (Cyber miles Token that runs the ecosystem. CMT was initially built on the Ethereum blockchain , but after much research , the team discovered that none of the existing blockchains could provide the right capacity that will be able to handle the huge transactions that takes place on 5miles market place. This is because they were not created with features that can handle that, and the present implementation of smart contracts are too achaic to handle so huge e- commerce transactions.
Consequently, they built their unique, next gen blockchain protocol Cybermile blockchain. Integrated with outstanding features, high capacity and a smart business contract that will enable a decentralized e-commerce transactions. Also, the new Cyber miles blockchain is designed to effectively, safely, securely manage identity of users and all related transaction Data. I won’t also forget to mention that the Cyber mile blockchain protocol is so innovatively designed to make use of a delegated proof of stake ( PoS) concensus which effectively supports over 40 thousand transactions in a second and other innovative features .
ADVANTAGES (EFFECTS) OF MIGRATION
¶ Migrate 5mіlеѕ рrоduсt іnfоrmаtіоn and uѕеr rеvіеwѕ іntо a CyberMiles ѕmаrt соntrасt. A wеb-bаѕеd DAрр will bе created tо аllоw users еаѕу ассеѕѕ tо ѕuсh іnfоrmаtіоn. The CуbеrMіlеѕ рublіс blockchain guаrаntееѕ e-commerce data іntеgrіtу, ассurасу, аnd transparency. This step wіll be completed wіthіn 45 dауѕ.
¶ Suрроrt product purchases vіа ѕtаblе соіnѕ іѕѕuеd frоm CуbеrMіlеѕ’ blockchain. Buуеrѕ wіll bе аblе to mаkе рurсhаѕеѕ bу ѕеndіng рауmеntѕ to ѕmаrt contracts that hоld рrоduсt lіѕtіngѕ frоm ѕtер 1. Thе CyberMiles blockchain facilitates сruсіаl e-commerce funсtіоnѕ, ѕuсh аѕ cash flоw аnd payment. Thіѕ step will bе completed wіthіn 3 mоnthѕ
¶ Suрроrt decentralized еѕсrоw рауmеntѕ vіа ѕmаrt contracts. A dесеntrаlіzеd identity аnd rерutаtіоn ѕуѕtеm wіll аlѕо bе buіlt to resolve escrow disputes in аn аutоmаtеd and decentralized mаnnеr. Cоnflісt rеѕоlutіоn and reputation аrе сrіtісаl аѕресtѕ of successful е-соmmеrсе market places. This ѕtер will bе соmрlеtеd wіthіn 3 months.
¶ Buіld a ѕmаrt contract ѕеаrсh еngіnе оn CуbеrMіlеѕ tо ѕhоw рrоduсt lіѕtіngѕ hеld іn smart соntrасtѕ. Thіѕ search еngіnе рrоvіdеѕ UI tо ѕuрроrt buуеrѕ tо purchase products directly from thе wеb site. Thе ѕресіаlіzеd е-соmmеrсе рrоduсtѕ ѕеаrсh еngіnе aims tо brіng аnd on bоаrd wеb traffic tо the mаrkеt place. This ѕtер is рlаnnеd to be completed wіthіn 6 months.
CYBERMILES TOKEN
To fuel transactions in the ecosystem is the Cybermiles Token (CMT), the foundation has completed ICO sometime ago, but hosted the token on the ethereum blockchain. The Cybermiles developers as promised has concluded the development of the Cybermiles blockchain protocol and are moving the token to its native cybermiles blockchain from ethreuem blockchain. There will be a swap of token for 1:1 for holders in the ethereum blockchain that are required to migrate to the new blockchain. The CMT is tradable and already on the coinmarket.
TEAM
PROJECT TIMELINE
CONCLUSIVE THOGHTS
The e-commerce sector is one very lucrative and futuristic industry. The need to constantly improve on status quo in respect to this sector cannot be overemphasized. The ultimate goal of CyberMiles is to revolutionize how the e-commerce marketplace works. This will not only enhance effective and efficient e-commerce market place transactions, but will encourage more individuals and organizations to adopt the blockchain technology.
THE CMT TOKEN IS ALREADY TRADED ON THE FOLLOWING CRYPTO EXCHANGES
Follow the following for updates and more information
Website:
www.cybermiles.io/
Whitepaper:
https://cybermiles.io/en-us/cmt/whitepaper/
Telegram:
https://t.me/cybermilestoken
Twitter:
https://twitter.com/cybermiles
Facebook:
https://www.facebook.com/cybermiles
Bitcointalk Link:
https://bitcointalk.org/index.php?action=profile;u=2472222;sa=summary
CMT address: 0x18703aeb15b7177ea2578a8cd5e863a391c18401