ESTABLISHING A NEW E-COMMERCE ECOSYSTEM WHERE EVERYONE IS INCENTIFIED TO PARTICIPATE AND INNOVATION!
The conventional wisdom of e-commerce is "winner takes all" - one or two of the biggest players dominate the market, set prices, and extract most of the profits. Results? Small businesses and consumers lose. Innovation slows down.
The reason for "winning all take" is that e-commerce has a strong network effect. The largest network of buyers and sellers wins. Until now, the network is owned and operated by a company because the central authority is required to validate transactions and enforce the rules. Blockchain technology promises us a decentralized network in which "legal code" and peer communities validate and enforce rules.
The CyberMiles blockchain aims to be a public blockchain for all e-commerce related transactions. By building Smart Business Contract technology, CyberMiles is specifically optimized for e-commerce. It has the benefit of a large network, but is retained and validated by a community of unbelieving colleagues.
An e-commerce business can build on CyberMiles blockchain to access a large network of sellers and buyers, and can use CyberMiles Token (CMT) as a token basis in their applications to support programs such as shared loyalty points. CyberMiles is the future of e-commerce. Read below for more details.
Empowering Online Market Decentralization
Smart Contracts for E-Commerce (Testnet CyberMiles, Travis, now enabled).
It is fully compatible with Ethereum and can run all smart contracts and Ethereum Dapps. But 100 times faster than Ethereum in terms of transactions per second (TPS).
Safer than Ethereum. Block CyberMiles proactively stops the common intelligent contract bugs that cause a loss of funds on Ethereum. And if the loss of funds still occurs, CyberMiles supports chain-chain governance processes to recover funds in a transparent manner through community consensus.
LOW OR NO CHARGE
It's more user-friendly and cheaper to use than Ethereum. The CyberMiles blockchain waives the transaction fee for the most common operations. This achieves this without sacrificing network security.
At CyberMiles, our mission is to build a decentralized ecosystem for e-commerce. Much of this work is to design and implement an economic system. Networks should be able to attract a diverse group of participants to share resources to actually achieve network effects. The core for CyberMiles design is the economic incentives provided by Token CyberMiles (CMT).
Token CyberMiles (CMT)
Like Bitcoin (BTC) and Ether (ETH), CMT's primary goal is to provide incentives to people to work together to maintain CyberMiles network. This is a utility token that pays for participant services to the network, such as BTC and ETH. To get a CMT, network participants (known as validators) need to:
Maintain lasting and agreed records of every transaction on the network. In the context of e-commerce, this includes all purchases, loans, payments, credit history, etc. Of course, all information is anonymous, secure, and encrypted on blockchain. This enables all e-commerce companies in the CyberMiles network to share access to buyers and sellers, and create great network effects; and
Implementing Smart Business Contracts on the network. The contracts are software applications that automatically determine who should pay who at what time. Examples include escrow accounts, loan repayment plans and insurance plans etc.
CMT is directly proportional to ETH as the main function of ETH is the same as above. However, compared to the Ethereum blockchain, CyberMiles blockchain is optimized specifically for e-commerce applications. See the comparison chart between CMT and ETH.
Optimized for e-commerce, CMT has a secondary function to complete trade transactions such as XRP on the Ripple network.
CMT as the basic token
All CMT holders can participate in network governance and maintenance by delegating their tokens to "validators" on the network. Validators are professional network operators that compete for the privilege of validating transactions on a CyberMiles network (and hence maintaining its integrity). In return, the validators receive new CMTs "printed" through our 8% annual inflation and also receive transaction fees for their Smart Business Contracts. Validators typically share income with their delegates. The algorithm for selecting validators is public and built into the blockchain protocol, and can not be forged by human operators - this ensures diversity of validators and prevents the centralization of power.
Through the above mechanism, CMT holders are given an incentive to delegate and risk tokens to get more CMT from validator operations. This consensus mechanism, known as Delegated Proof of Stake (DPoS) aligns the interests of all participants to ensure network integrity.
While CMT is a basic utility token to the CyberMiles network, the blockchain capability to run the Smart Business Contract enables the e-commerce business on the CyberMiles network to issue new tokens based on CMT - similar to the ERC20 tokens can be issued by Ethereum smart contracts on ETH. The new CMT-based token no longer needs to assume network integrity responsibilities. They can be customized to meet the needs of e-commerce applications. Examples include loyalty point programs, in-app tokens for purchase services, supply chain completion tokens or product tracking tokens, etc.
For More Information:
Bitcointalk username :Aray80