TINGYANK NEING YEING: CyberMiles

CyberMiles

What is CyberMiles solution?

The CyberMiles payment gateway is a SaaS service offered by our partners. It can be embedded into any e-commerce web site to seamlessly accept customer payments in almost any cryptocurrency in today’s market, including payments in USD-pegged stable coins.

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 solve the delaying issues related to 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 .

The most notable of all things is the CyberMiles is fully compatible with Ethereum, can run all Ethereum smart contracts and Dapps! Their official site's statement says that it is 100 times faster than Ethereum in terms of transaction 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.

The CyberMiles team already completed their Testnet on 30th March, 2018 and then they migrated from Ethereum blockchain to Cybermiles own blockchain. And now part of their journey the team, its developers are touring around the world, winning so many awards for being one of the best blockchain based proejcts out there!

What differentiated this ICO to others is that the CyberMiles already has a working application and millions of users whereas most of the ICO projects fulfill their working products much later. The project has received recognition from leading venture capitalists. After a couple of years of hard working the CyberMiles team and 5Milies team have finally completed 5Miles data migration. FYI, 5miles is a very popular peer-to-peer (e-commerce) platform in the United States with thousands of users using their platform already. The follow up of the migration to Cybermiles blokchain can be tracked from the Cybermiles own CMT wallet which can be downloaded from Apple Store and Google Play Store.

Challenges for Traditional E-commerce

While there is a clear demand, it is difficult for traditional e-commerce websites to accept cryptocurrency payments. Traditional payment processing companies supports one or two mainstream cryptocurrencies and require high fees for converting into and out of fiat currencies (e.g., USDs). The cryptocurrency payment user experience is also poor for consumers, making them uncompetitive against traditional payment methods such as credit cards.

Why CyberMiles (CMT) will be better than Ethereum?

CyberMiles (CMT) is a blockchain focused on the e-commerce market. The idea is to open an online market, by allowing ordinary people to make and implement smart contracts.

The question then arises, what makes it different from Bitcoin or Ethereum? Well, CyberMiles are more efficient than both in various aspects. Just to give you a perspective on how good CyberMiles are, here are 5 reasons why they dwarf Ethereum, and have better growth opportunities.

Cheaper

While Ethereum can be used in e-commerce, it becomes more expensive as the network grows. This makes it uncomfortable to use in large-scale e-commerce applications. Up front, CyberMiles are far ahead of the curve. This is designed to keep transaction costs low regardless of network size. This is part of what will drive its adoption in the multibillion-dollar e-commerce industry and drive its long-term value.

Supports multiple languages

For someone to develop a smart contract on Ethereum, they must first learn a solidity programming language. That is very limiting because it takes time to learn new programming languages and, moreover, make smart contracts. Once again CyberMiles (CMT) dwarfed Ethereum on this front because it allows developers to make smart contracts in various programming languages. For example, developers can make smart contracts in Java, Java Script, and Python. This puts CyberMiles far ahead of the curve, when it comes to adoption in e-commerce space.

Have a TPS higher than Ethereum

One of the most limiting aspects of Ethereum is that it is very slow. This makes it uncomfortable to launch large-scale decentralization applications, such as those made for e-commerce purposes. In front of this, CyberMiles are far ahead considering that it is more than 100 times faster than Ethereum. This makes the blockchain perfect for adoption on e-commerce, compared to Ethereum. That is a big plus for long-term value.

Has a proactive anti-bug mechanism

One of the biggest problems with Ethereum is that it is vulnerable to bugs. This has happened to networks in the past, making it very ineffective for large-scale applications. CyberMiles solves this problem because it has a built-in anti-bug mechanism. In essence, all funds on the CyberMiles blockchain will never be lost. And if they get lost, there is a consensus mechanism to restore it.

Users can use Cyber Miles to release their own tokens

One of the best things about CyberMiles (CMT) is that it allows users to execute smart contracts using CyberMiles tokens. This is one aspect of CyberMiles that can be seen adopted by various entities that want to use smart contracts for e-commerce purposes. In addition, CyberMiles (CMT) intends to launch in the United States, one of the largest e-commerce markets in the world. This is very good for the growth of crypto's value.

We can say CyberMiles could be a huge game changer in blockchain because it gives innovators, companies, investors a different but fast, trust worthy network. The followings are the places that CyberMiles team identifies as potential target for them:

A decentralized identify management platform.
A peer-to-peer small business loan marketplace
A more efficient supply chain
Addressing the counterfeit problem
Automatic escrow
An ICO platform for E-commerce
Fast but cheaper than other networks.
Cybermiles coin allows connection of other platforms to co-develop
Language-level and Virtual Machine-level extension to the Ethereum smart contract platform to support complex e-commerce contracts.
Token asset interoperability with other blockchains.