Life has never been easier like it is now. At this era of digitalization, we are experiencing it in every sphere. Everything is possible in just through a click. Almost every type of services and goods are available over the internet and the sites that are trading these services and products over the internet is known as e-commerce.
Even the payment method has become digitalized. Payment does not require any physical cash, virtual currency or cryptocurrency is enough in this matter. CyberMiles is working on serving the smart contracts for the e-commerce. They have already activated testnet, Travis for CyberMiles. They are constructing a brand new ecosystem for the e-commerce system and has been incentivized for participation and innovation.

What Is CyberMiles

CyberMiles Foundation Limited is the name of a company is governed by a non-profit organization. It has been working through providing assurance to be incorporated in Hong Kong and already has made a plan to collaborate with 5miles with an aim to develop the organization as a next-generation blockchain optimized for e-commerce. It has been designed for mainstream adoption integrating latest blockchain innovations to gear up the power of “Smart Business Contracts”. It has formulated in 2014 and till now it has been serving for the betterment of the e-commerce sites.

Motivating Factors

CyberMiles has been working with a strong belief that the blockchain based technology is going to make revolution throughout the online marketplace in a decentralized process. Therefore they are working hard by strengthening and participating in the creativity of the participants into the marketplace. They are also making their network system to be more dynamic and scalable. Their protocol is been following some attributes such as:
  • Supporting a library of commerce-related Smart Business Contract empowered by decentralization process.
  • Managing user identity by transacting data privately and safely also enabling new transactions and settlements throughout the network participants.
  • Utilizing a delegated Proof-of-Stake or PoS consensus engine that is able to support around ten thousand transactions per second resolving the latency issues.

Protocols and Tokens

CyberMiles has developed and designed for the business and marketplace applications. It consists of the blockchain based “Virtual Machine” by defined modules of software stacks. It operates by the outside chains to support decentralized processes which are governed by smart contracts implemented throughout the network. The native crypto token that has been introduced by the organization is named as CMT and it is compliant with Ethereum Blockchain or ERC-20 tokens. They have settled their milestone for CMT for some purposes like:
  • Rewarding and incentivizing the members of the community contributing computing power and maintaining the integrity of the network services like running network nodes, validating transactions and executing smart business contracts.
  • Incentivizing the community members providing peer-to-peer customer support and conflicts of resolution services.
  • Facilitating transactions throughout the network. The interaction process of the supply chain will be in between the buyers and sellers and will be facilitated by CMT. It also enables decentralized settlements for reduced cost of transactions and the friction on the network.

About Test Net

The Travis TestNet currently has seven validator nodes around the world. The number of validator nodes grows as the community grows because validators are selected by the community through the staking process. Check out how to deploy your Ethereum smart contracts or DApps on Travis.
The code names of CyberMiles TestNets are to honor heroes of the Texas Revolution. They are to acknowledge our roots in Texas, and the revolutionaries and misfits who changed history. William B. Travis is a commander of the Republic of Texas and a lieutenant colonel in the Texas Army. He died at the Battle of Alamo, where he famously wrote the letter, ‘Victory or Death
Cybermiles software is Open Source and available from Github. You are welcome to run a full node and make yourself a validator candidate. To prevent scams, spam, false advertising, conflict of interests, and network degradation, the CyberMiles Foundation has a vetting process for validators to ensure that the community members have the accurate information before voting/staking for validators. Subsequently, all validator candidates are voted up by the community to become official validator.
CyberMiles is creating the e-commerce, substantive research and development into blockchain technology. They are on their way to making future that has the potential to be the first blockchain within the real-world business application and mainstream adoption. This may also go to be the largest blockchain network in its existence.