CyberMiles blockchain and tokens are developed for the e-commerce industry. Primarily focused on becoming the next generation Ethereum (ETH) delivering faster processing and optimised for e-commerce applications. With an extensive library of Smart Business Contracts that are developed for the e-commerce industry. Which will make it easier for people to build decentalised applications.
Cybermiles business partner 5miles will migrate its existing 12 million U.S. based e-commerce users onto the new CyberMiles blockchain giving it an existing user base from its initial launch. This will be used to manage user identity, reputation, credit history and be able to facilitate financial transactions between users within the App. The system doesn’t collect data in a central store or clearing house which is why mass adoption in the e-commerce industry is expected as companies move to have their businesses on CyberMiles. In a similar way to Ethereum applications built on CyberMiles could offer CMT to issue their own ICO. The current market scale of e-commerce application is $1 trillion and growing.
Cybermiles will be able to support literally tens of thousands of transactions through Proof of Stake while Ethereum can only do 10 Transactions per second giving CyberMiles a distinct advantage for e-commerce enterprises. Over time we will see CyberMiles encouraging effective participation and new tokens will be minted as the network grows. Holding CMT tokens is crucial for the DPoS consensus and you will have the opportunity to receive new tokens.
Taking also onboard that CMT will be optimised for e-commerce and is designed for decentralised settlements of payments. It will allow peer to peer finance transactions for example selling a car where you will advertise it and receive CMT from the buyer. But also if you wanted to buy goods online from a store with an e-commerce service you will also be able to do this as well.
One of the key elements to this Initial Token Offering is that it already has a user base that will be pivoted onto the CyberMiles network giving it an initial 12 million U.S. based users from day one of the system going live. Which will put it ahead of most competition out there in relation to number of users.
The team has already got experience in this market and working with 5xlab they will be hitting the ground running. The block chain development takes them to the next level in their enterprise as well as offering access for App development on the block chain for other e-commerce ventures out there it will see significant growth as soon as it hits the market. Developing Smart contracts around the new block chain will also simplify it for new developers to tap into CyberMiles with their own applications and thus strengthening the need for and user base of the new CyberMiles block chain.
I can see this being a major opportunity for growth due to its initial user base being pivoted on it which will also no doubt increase the adoption of Crypto into many new homes in the U.S. market as the 12 million users will become familiar with CMT and how this fits into the Crypto world.