CyberMiles - Blockchain Technology Developed and Operated by 5xlab

Hello everyone, in this review I will invite you to see how the company CryberMiles works. following this explanation:

What is Cybermiles?

Cybermiles (CMT) is a blockchain technology being developed and operated by 5xlab - a blockchain research and development institute. 5xlab cooperates with 5miles - a world-class expert group from My and China. 5miles was founded in 2014 and has raised about $ 62 million from well-known investment firms such as IDG, SIG, Blue Lake and Morningside.

5miles intends to be the first platform to use CryberMiles' blockchain protocol, while supporting 5xlab for more robust technology development. 5miles has been a leader in innovation in online markets and offline for 3 years, 5miles has enjoyed the technology and trade required to renew blockchain technology and smart contracts for practical applications.

5xlab will search for solutions to apply their expertise to developing CyberMiles with the trust and dedication of the development team. This will help CyberMiles become the leading blockchain technology for practical business activities.

Brief introduction about 5miles

5miles is a business standing in the top of e-commerce in the world, connecting consumers with consumers (c2c) in the US. Currently the company's top app is called 5miles application and there are up to 10 million registered users in the US, according to estimates exceeding US $ 3 billion in total transaction value in 2017.

Besides, 5miles app is also ranked in the top 10 best shopping apps in the US. On average, 5miles users spend 24 minutes a day for the application, which is an important factor that makes 5miles application one of the most attractive e-commerce applications in the US.

5miles is run by Dr. Lucas Lu, formerly a co-founder and chief technology officer (CTO) of Light In the Box, a company listed on the New York Stock Exchange (NYSE). . In addition, Lucas used to be the first executive director of Alibaba's Taobao mobile platform.

What difference does CyberMiles and Ethereum have?

CyberMiles (CMT) is developed specifically for trading and commercial applications. Commonly used platforms tend to be less effective for contracts that govern specific commercial transactions, because those platforms are not born to serve these purposes. In contrast, CM is currently being developed to build intelligent contracting modules to maximize the effectiveness of the information technology needed for timely transaction completion.

CyberMiles is the next generation blockchain for smart contracts. CyberMiles smart business contracts are designed to be more powerful than the smart contracts of Ethereum. It will become the next Ethereum generation (ETH).

Cybermiles is optimized for e-commerce applications. It will provide an immense library for smart business deals involving e-commerce. This has created a powerful CyberMiles capable of establishing decentralized commercial applications.

Like ETH of Ethereum, applications created from CyberMiles are able to use CMT to release their own ICO. The number of more than $ 1 trillion is the size of the market for e-commerce applications.

CyberMiles can support tens of thousands of transactions (TPS) per second through the most advanced stage of combining the most advanced ideas and the most advanced features of the Proof of Stake (PoS) engine has been Consensus. According to the charter signed on the contract, today Ethereum only supports 10 TPS.

Because CMT is optimized for e-commerce use, it is designed to simplify authorization payments like Ripple (XRP). XRP arranges transactions between major banks while the task of CMT is to arrange transactions between e-commerce and financial units where each unit is provided with the same capabilities and powers. any unit has the right to initiate a conversation.

CyberMiles Features

CyberMiles advertises all of the following facets for its blockchain-based marketplace;

Experienced Team

5miles has large ride leading net companies, and they’ve already launched one of the world’s biggest customer marketplaces.

Commercial Applications

CyberMiles has declared that its ecosystem is equipped for industrial use, and its smart contracts can be utilized to resolve real marketplace needs. They diagram to combine these modules into their current 5miles ecosystem to prove its use in a massive and lively marketplace.

Open Collaboration and Development

5miles plans to establish a CyberMiles contracts market where CyberMiles application modules can be licensed or at the same time developed with different platforms.

Balance Between Efficiency and Compatibility

Traditional blockchains emphasize decentralization and compatibility throughout networks at the price of efficiency. This can limit the appeal and usability for end applications. CyberMiles, on the other hand, will center of attention on industrial applications and use protocols to ensure the excellent balance between vertical effectiveness and community compatibility.

Overall, CyberMiles sees its platform as the best ecosystem for improvement – particularly amongst business companies seeking a effective P2P marketplace solution.

Benefits of CMT Technology

SMART

CyberMiles has built a library of smart contract templates for e-commerce applications.

FAST

On top of coin transaction speed, our Virtual Machine allows Smart Contracts to be calculated with an optimized speed for business needs.

SAFE

The blockchain has created a perfect combination of scalability, decentralization and safety. Also, CyberMiles has implemented a “pre-defense” and “post recovery” mechanism as an additional protection.

FREE

CyberMiles waives transaction fees for most common operations. It achieves this without sacrificing security of the network.

Who’s Behind CyberMiles?

CyberMiles is a collaborative project from 5xlab, a blockchain research laboratory, along with 5miles, a consumer-to-consumer platform with 12 million users in the United States. 5miles was formed in 2014 by a team from China and the United States and has raised $62 million USD from investment firms like SIG, IDG, Morningside, and Blue Lake. The 5miles platform launched in 2015 and quickly became one of the top 10 largest shopping apps. Today, the app claims to have 12 million active users while conducting $3 billion in transactions every year.

5miles was founded by Dr. Lucas Lu, CEO, who was previously a co-founder and CTO of Light in the Box. Prior to that, Dr. Lu was the first GM of Alibaba’s Taobao Mobile platform.

Full details of the team and their experience are available online at 5miles.com

Final Word

CyberMiles is a blockchain platform built by 5miles, one of the world’s leading consumer-to-consumer marketplaces, in partnership with 5xlab, a blockchain technology company. The goal is to create a platform catered specifically for commercial and marketplace use. The platform consists of smart contracts, a virtual machine, middle-layer off-chain software stacks, and other features.

Roadmap

The 5miles user data migration to the CyberMiles blockchain is being implemented as planned. We have started exploring e-commerce DApps. At the same time, the technical team is planning a major virtual machine upgrade to support alternative gas fee mechanisms, which will greatly reduce the DApp barrier of entry and allow far more users to experience the CyberMiles blockchain technology. Based on community’s input and suggestions, we will also adjust the reward mechanism of the DPoS protocol for better transparency.

E-commerce DApp

5miles data migration
Smart contract supported stable coin purchases

Virtual machine upgrades

Secure random numbers in smart contracts
Option for the contract owner to pay for gas fees

CMT Wallet

Allow new wallet users to experience some DApps without acquiring CMTs first
Staking from the wallet apps (the final decision is subject to community voting)

Mainnet DPoS reward mechanism adjustments

Make the algorithm simpler and easier to understand
Rewards during the 7-day unstaking period

E-commerce DApps will see significant progress in this quarter. The community will release C2C e-commerce products, making it easy for users to buy and sell things. The virtual machine will also continue to see upgrades that are tailored to the needs of e-commerce. At the same time, the CyberMiles Foundation will continue to contribute technologies to the larger community under open source. For example, we will continue our code contributions to high profile projects such as the Uniswap Exchange.

E-commerce DApp

Support decentralized escrow transactions
Build a search engine to make it easier to find e-commerce products on the CyberMiles public blockchain
Release a C2C e-commerce platform and virtual marketplace

Virtual machine upgrades

Allow input and output of complex data types in smart contract functions
Suport JSON
Support a common string library
Support smart contract formal verification

On-chain decentralized exchange Uniswap

Continue to provide core development resources for Uniswap
Launch Uniswap on the CyberMiles blockchain

If a theme should be named for this quarter's work, it would be "open source". This quarter we will release the a technology standard for creating e-commerce stores on the blockchain. Anyone who conform to this standard will be able to create stores on the CyberMiles blockchain and start selling anything they want. In addition, we plan to make significant contributions to the official Ethereum 2.0 Virtual Machine eWASM. We will also make our staking API available to third party developers, publish a CMT Wallet SDK, and gradually expand the reach of our technology.

E-commerce DApp

Publish the standard for decentralized e-commerce contracts and DApps
Enable more decentralized e-commerce platforms to be integrated with CyberMiles public blockchain through open APIs

Virtual machine upgrades

Support multiple side chain standards such as Plasma
First in the industry to support Ethereum 2.0 virtual machine eWASM standard

CMT Wallet

Support external third party wallet staking
Provide a staking API
Support CMT Wallet SDK for third-party e-commerce applications to directly use CMT and stable coin

Team

Lucas Lu, PhD: Founder
Michael Yuan, PhD: Chief Scientist
Timothy McCallum: Core Developer
Alex Lau: Core Developer
George Chen: CMO
Mark Brinkerhoff: VP of Communication

CMT is available at the following exchanges

#5Miles Data Migration

To get more relevant details from the CyberMiles project or join social media and sales crowds, please follow some sources for the following references:

Website: http://www.cybermiles.io

ANN Thread: https://bitcointalk.org/index.php?topic=2344875

Project Whitepaper: http://www.cybermiles.io//wp-content/uploads/2018/03/Project-white-paper_en-US.pdf

App Download Link: https://play.google.com/store/apps/details?id=io.cybermiles.cmtwallet

Twitter: https://twitter.com/cybermiles

Facebook: https://www.facebook.com/cybermiles

Telegram: https://t.me/cybermilestoken

Username: bitcampaign

Profile BTT Link: https://bitcointalk.org/index.php?action=profile;u=905392

CMT Wallet Address: 0x886e5562708A4A9d7F330c2d7faE68BdCaa765e9