5MILES DATA MIGRATION ONTO CYBERMILES BLOCKCHAIN
Introduction
The e-commerce industry has changed the way by which society and individuals offers products and services: it has also become one of the most popular ways of making money online for individuals and investors. Despite the advantages and benefits of e-commerce, it has been seen to be faced with so many barriers thus the need for the creation of CYBERMILES: a next-generation blockchain based developed for e-commerce and designed, created specifically for adoption.
Cybermiles foundation being a company legally allowed to be incorporated in Hong Kong has come to develop and assist the hierarchy of the decentralized platform with active engagement by the members of the ecosystem. Cybermiles network will develop and integrate the best, new blockchain innovations to provide a secure, effective, transparent and trusted business services for members of the platform and to power “Smart Business Contracts” on an effective chain to solve the issues associated with current blockchain usability.
RELEVANCE OF CYBERMILES TO 5MILES
Earlier on, 5miles: a well-known/popular peer-to-peer e-commerce platform situated in the United State of America, with a total of 10million registered American users with an estimated value to overcome $3 billion in 2017, plans to migrate its entire ecosystem of sellers and buyers to the CybeMiles decentralized network. The 5miles platform will be one of the first platforms to leverage the network as a back-end service and jumpstart the ecosystem. However, the CyberMiles public blockchain has come into partnership with 5miles to ensure 5miles users data and information are transparent and secured.
The leveraging of CyberMiles blockchain by 5miles e-commerce will help reduce the cost of transaction and more so secure commerce data, information and help eradicate the problems facing the e-commerce ecosystem. The utilization of the CyberMiles blockchain and the creation of its native token will be utilized across other partner platforms and marketplaces hence creating awareness and making its one of the best market-leading blockchain protocol for commercial and marketplace applications.
5Miles platform will also integrate its existing “wallet to be able to hold CMT balances and allow the utilization of the CMT Token on the 5Miles platform
5miles’ data migration to the blockchain has been seen to be a good step in exploring and adopting blockchain technology in the e-commerce ecosystem information flow.
CyberMiles has integrated 5miles’ product information and comments into the smart contract at the address: 0xa3f1e99c46d1d7e6cc96f71b6116cee8160fa4d3, including data of 61170 products since 9th of May. This is done to ensure that data on the blockchain network are transparent and also tamper proof.
5miles Data DApp is another distinctive aspect as its fight against fraud and solves the barriers facing the e-commerce industry.
5miles has also developed a 9 novel blockchain protocol to supports business transactions in the blockchain network with CMT Token.
UNIQUENESS OF CYBERMILES TO 5MILES AND OTHER PLATFORM
One of the main uniqueness of CYBERMILES is to manage user identity, transaction data privately and safety, while allowing new transactions and settlement amongst users of the network. The access to over 10million 5miles user data will create awareness and adoption of CyberMiles blockchain.
To support various kinds of commerce-related Smart Business Contracts that powers decentralization processes.
Another is to utilize a delegated-PoS (“Proof-of-Stake”) consensus engine to support tens of thousands of transactions per second (“TPS”), hence resolving latency issues of existing chains.
CYBERMILES TOKEN
CyberMiles is a new blockchain protocol being created and developed for business and marketplace applications. The protocol will consists of “virtual machine” and best software which operates outside the chain to assist decentralized processes by Smart contracts implemented on the network. The CMT Token is the main digital asset created to be integrated with and utilized on the CyberMiles network, and on other decentralized applications on the network.
The CMT Token was initially deployed on the Ethereum blockchain but was later exchanged on a 1:1 basis with the native CMT issued on the CyberMiles blockchain network.
THE CMT USE CASES
CMT Token can be used to facilitate transactions within the network.
The CMT Token can also be used to reward and incentivize community members contributing positively to the network platform.
It can also be used to incentivize community members to provide support and resolution services.
Kindly visit the below website for more in depth knowledge about the project:
Website: http://www.cybermiles.io/
Whitepaper: https://cybermiles.io/en-us/cmt/whitepaper/
Facebook: https://www.facebook.com/cybermiles
Twitter: https://twitter.com/cybermiles
Weibo: https://weibo.com/Cybermiles
Telegram: https://t.me/cybermilestoken
Kakao: https://open.kakao.com/o/gl9gPJI
Github: https://github.com/cybermiles
Bitcointalk username: bosunbossman
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1197648;sa=summary