CyberMiles (CMT) cryptocurrency
CyberMiles is a project that is trying to compete with Ethereum in the field of e-commerce. CyberMiles was developed on the ETH blockchain and is compatible with smart contracts and decentralized applications built for Ethereum. It has features such as reduced fees, higher network throughput, and many other benefits. The developers intend to make CyberMiles a leader in the e-commerce industry.
The ultimate goal of the developers is to create an ecosystem convenient for customers. Its functionality will allow them to buy and sell goods with the same level of comfort as on Amazon or Walmart services. Moreover, the activities of such a platform will be reliably protected by the decentralized and secure blockchain structure. To achieve this goal, CyberMiles implements a protocol that provides tools for creating custom modules. In addition, members can create their own marketplaces in a wide variety of shopping areas. CyberMiles technology provides users with:
- templates for creating their own online stores;
- arbitration system for resolving disputes in the field of trade and supplies;
- holding auctions and monetizing assets;
- introduction of an alternative payment and financing system;
- carrying out promotions of a general or narrowly targeted nature.
CyberMiles functionality is supported by the internal CMT coin, created for access to platform tools . Developers are paying attention to the CMT cryptocurrency and the possibilities of its integration into partner applications and various services.
Review of CyberMiles (CMT)
Development of the CyberMiles platform began in 2017, but has a long history. The prototype of CyberMiles was the released online application 5miles. It was focused on commercial activities under strict security conditions. Lucas Lu founded 5miles in 2014. He is the CEO of 5miles and CyberMiles. He has a Ph.D. in particle physics and previously worked at CERN. He was a top manager at Alibaba and technical director at LightInTheBox. Co-founder Michael Yuan, the project's scientific director, holds a Ph.D. in astrophysics. He is the author of five books on software development and has worked on Firefox, Fedora, JBoss, and other open source projects. The rest of the management team also consists of experienced professionals. The founders attracted significant investments, which allowed them to develop the project. They have gradually grown their user base to over 10 million members with an annual platform turnover of $3 billion. In August 2017, the development team focused on creating a platform for decentralized commerce. 5miles was used as an example when developing the project. The ICO took place in November 2017, with 70% of the total number of coins put up for sale. A total of 1 billion CMT coins have been issued. Coins can be used in the 5xlab application to make transfers around the world and pay for online purchases.
Advantages of CyberMiles (CMT)
- High performance and security. The platform can create smart contracts and decentralized applications similar Ethereum network. But at the same time, CyberMiles transaction speed is 100 times faster thanks to the DPoS algorithm.
- Low commissions. The commission for transactions on the CyberMiles network is lower than the Ethereum commission. Some transactions are carried out without any commission at all.
Disadvantages of CyberMiles (CMT)
- Strong competitor. It is difficult to compete with such a strong player as Ethereum. The ETH network continues to develop and improve. Also today, Ethereum still retains its status as the most popular altcoin.
- Not a fixed total number of coins. Currently, the maximum number of CyberMiles coins is 1 billion. But the developers report that this is not the final value. They can increase the supply of CMT to 10 billion coins.
