CyberMiles Foundation Limited (“CyberMiles Foundation”), is a company limited by guarantee to be incorporated in Hong Kong and governed in a not-for-profit manner. It will work closely with 5miles LLC (“5miles”), with the aim of developing CyberMiles: a next-generation blockchain optimized for e-commerce and designed for mainstream adoption.

By focusing on e-commerce and online marketplaces, CyberMiles will integrate the latest blockchain innovations to power “Smart Business Contracts” on a highly effective chain, and resolve the latency issues associated with existing, general-use blockchains. Its utility token, CyberMiles Token, is planned to be a “master token” to fund & empower new e-commerce applications and projects, similar to how ETH is used for the current generation of ICOs.

Throughout the network development, CyberMiles Foundation will be assisting the governance of the decentralized platform, with strong involvement by members of the ecosystem. Our vision for the future is a public network that provides secure and trusted business services for its members, by its members.

5miles plans to gradually migrate its sellers and buyers, as the first group of users, onto the decentralized network. In other words, 5miles’s marketplace platform will be one of the first environments to utilize the network as a back-end service and jumpstart the ecosystem. Once the network reaches a critical mass, its own network effects, strengthened by incentives provided by the CyberMiles Token (“CMT”), are expected to be applied to other partner platforms and marketplaces, driving CyberMiles’ development as a market-leading blockchain protocol for commercial and marketplace applications.

is to build a decentralized ecosystem for e-commerce. Much of this work is to design and implement an economic system. The network must be able to attract a diverse group of participants to share resources in order to truly achieve network effect. Core to the CyberMiles design is economic incentives provided by the CyberMiles Token (CMT).

There will be a live broadcast held by CyberMiles (CMT) on Friday March 30 at 11:45 (GMT+8) were the results of the first

E-commerce blockchain testnet will be announced. For those who are not familiar with this project should know that CyberMiles held a successful ICO last year on 21 November 2017 setting a new record in crowdfunding history by selling out all CMT in less then 44 Minutes raising a total of 84,146.5727 ETH Brief introduction to CyberMiles: CyberMiles is a new next-generation blockchain network optimized for marketplace and business applications working closely with an already well-established online marketplace 5miles to build a platform for an E-commerce ecosystem. CMT transaction per second will be 100 times faster and a lot cheaper than Ethereum. If there was a loss of funds, CyberMiles supports an on-chain governance process to transparently recover these lost

assets through community consensus.

HIGH PERFORMANCE

It is fully compatible with Ethereum and can run all Ethereum smart contracts and Dapps. Yet it is 100 times faster than Ethereum in terms of transaction per second (TPS).

MORE SECURE

MORE SECURE

It is safer than Ethereum. The CyberMiles blockchain proactively stops common smart contract bugs that had caused loss of fund on Ethereum. And if a loss of fund still occurs, CyberMiles supports an on-chain governance process to transparently recover the fund through community consensus.

LOW OR NO COST

LOW OR NO COST

It is more user-friendly and cheaper to use than Ethereum. The CyberMiles blockchain waives transaction fees for most common operations. It achieves this without sacrificing security of the network.

The CyberMiles Token (CMT)

Like Bitcoin (BTC) and Ether (ETH), the primary purpose of the CMT is to incentivize people to work together to maintain the CyberMiles network. It is a utility token that pays for participants’ services to the network, like BTC and ETH. In order to earn CMTs, network participants (known as validators) will need to:

Maintain an immutable and agreed upon record 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 the blockchain. This allows all e-commerce companies on the CyberMiles network to share access to buyers and sellers, and create a large network effect; and

Execute Smart Business Contracts on the network. Those contracts are software applications that automatically determines who should pay who at what time. Examples include escrow accounts, loan repayment plans and insurance plans etc.

The CMT is directly comparable to the ETH as the primary functions of the ETH are the same as the above. However, compared with the Ethereum blockchain, the CyberMiles blockchain is optimized specifically for e-commerce applications. Check out a comparison chart between CMT and ETH.

Being optimized for e-commerce, the CMT has a secondary function to settle commerce transactions like the XRP on Ripple network does.

CMT as a base token

All CMT holders can participate in network governance and maintenance by delegating his or her tokens to “validators” on the network. The validators are professional network operators who compete for the privilege of validating transactions on the CyberMiles network (and hence maintaining its integrity). In return, the validators receive newly “minted” CMTs via our 8% annual inflation and also receive transaction fees for Smart Business Contracts they execute. The validators typically split earnings with his or her delegators. The algorithm to select validators is public and built into the blockchain protocol, and cannot be tempered with by human operators — it ensures the diversity of validators and prevents centralization of power.

Through the above mechanism, the CMT holders are incentivized to delegate and stake the tokens to earn more CMTs from validator operations. This consensus mechanism, known as Delegated Proof of Stake (DPoS) aligns the interests of all participants to ensure the integrity of the network.

While the CMT is a fundamental utility token to the CyberMiles network, the blockchain’s ability to execute Smart Business Contracts allows e-commerce businesses on the CyberMiles network to issue new tokens on the basis of CMT — similar to ERC20 tokens can be issued by Ethereum smart contracts on ETH. Those new CMT-based tokens no longer need to shoulder the responsibility of network integrity. They can be tailored to address e-commerce application needs. Examples include loyalty points programs, in-app tokens for purchasing services, supply chain settlement tokens or product tracking tokens etc.

Team



ADVISORS



Website: http://www.cybermiles.io/

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