CyberMiles (review)

Problems

The e-commerce marketplace is the greatest enterprise in the world today; And is also having that a great deal of associated problems. Today's e-commerce network is completely centralized and completely controlled by big market players. The centralized system has supplied them an advantage to rule over the marketplace. Today's e-commerce enterprise runs on archaic enterprise mannequin and out of date technological methods. The market is totally stuffed with large quantity of intermediaries and wasteful tactics which drives up the product price greater than 15% of its original price. That's why the quit patron will receive the product at some distance higher expenses due to the unnecessary intermediaries.

But change is the regulation of nature and every new science replaces the old one and creates a way towards the future. In the recent years the world has witnessed a progressive technological know-how referred to as Blockchain. It's immutibal properties attracts each and every character round the world and corporations are began exploring the use blockchain into their core applications. Now thanks to CyberMiles project which is aiming to revolutionize the e-commerce through blockchain technology.

What is CyberMiles?

CyberMiles is a blockchain technology developed by 5xlab, a blockchain development laboratory. 5xlab works closely with 5miles, 5miles is expected to be the main platform to use the CyberMiles blockchain protocol and also help 5xlab develop its technology.

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.

How CyberMiles differentiate from other digital currencies?

Unlike other cryptocurrencies like Bitcoin, Bitcoin Cash and Ripple, which tries to replace the existing distributed exchange platforms, CyberMiles CMT is a blockchain platform intended to revolutionize the e-commerce business industry.
CyberMiles has designated to use the (DPoS) Delegated Proof-of-Stake agreement over the Proof-of-Work (PoW), which is operated by Ethereum and Bitcoin.
Even though CyberMiles is inspired by Ethereum, It has improved numerous issues that lie in Ethereum blockchain. CyberMiles has built up an improved blockchain protocol with its very own Smart Business Contracts.
The Smart Business Contracts are a group of contracts, improved for e-commerce utilization. These agreements likewise inspire an easy app development by permitting application developers to get to reusable templates embedded into the CyberMiles blockchain.

About 5Miles

5miles is a leading customer to customer (c2c) e-commerce network in the United States with more than 10 million active users. It has surpassed $3 billion dollar worth transactions in 2017. 5miles app is in the list of top 10 shopping application in US. On an average every single user spends at least 24 minutes a day on the 5miles app and is the most engaging shopping application. 5miles is actively developing blockchain based e-commerce solutions and aimed to revolutionize c2c e-commerce network.

Principle of operation

5miles wants to bring c2c e-commerce marketplace over decentralized blockchain network. 5miles strengthens the c2c relationship between buyer and seller. Implementation blockchain brings security, transparency in every process and importantly gives trust in the system. Thus, small entrepreneurs, local businesses and commerce corporates will shift towards adoption of blockchain technology into their core business applications. And they will have an ultimate opportunity to drive their sales and attract customers through quality service offered by CyberMiles. Most importantly decentralization gives power in community and they are decide every platform operation and working principles. This helps to scale up the marketplace.

The blockchain solution offered by CyberMiles will provide many benefits to e-commerce participants, such as:

• in order to push decentralization, CyberMiles offer ready made smart business contracts to businesses, with which they can automate their work processes;

• the financial e-commerce platform offered by CyberMiles will help market participants to make business and transaction settlements securely and transparently;

• the CyberMiles ledger chain will support millions of transaction volume which is necessary for e-commerce marketplace;

CyberMiles wants to create a fully fledged decentralized blockchain solution which can be easily implementable in every type of business.