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CyberMiles: Empowering the Decentralization of Online Marketplaces

What is Cybermiles?

Cybermiles is a new, fast and rising generation block-chain used for small-scale businesses or contracts developed by Michael Yuan. As compared to other cryptocurrencies such as; Ethereum, Bitcoin and others, it is said to have being designed to have a “Geek Business Contract” which is more superlative and superior. It is far more superior to “Ethereum Smart Contracts” and with its fast and rising rate, it would soon be regarded as the next world’s Ethereum (ETH).

Cybermiles has a future tendency of being the most used cryptocurrency in the world. It would cover a large rate of above 10 million users that are currently based in the United States. This large expanse covered makes them a competitor and rival to Ethereum. It has been designed effectively to support applications on e-commerce whereby it provides a vast array of archive or collections for commerce-related transactions. This array proportionally makes it possible for the start-up of a decentralized application on e-commerce.

Cybermiles has been well optimized to support tens of thousands of business transactions in a split of seconds (10,000TPS; ten transactions per second) through a master designed technology called Proof of Stake (PoS) consensus engine. This technology possessed also shows a huge difference from Ethereum. Ethereum only can support about ten transactions in a split of seconds (10TPS; ten transactions per second. This is about 0.001% difference.

Another interesting thing is that it can help to save and store up data during migration. In a case where a user’s data is on 5miles, Cybermiles partner with 5miles to transfer records into the Cybermiles blockchain protocol and technology. It stores up user’s identity, log, credit history, and other financial transactions. It ensures privacy and good security. This process makes it possible for the migration of over 12 million United States based users and also 5miles to be one of the first if not the first to use a Cybermiles blockchain protocol and thereby making a legit business world possible.

Cybermiles Token (CMT) also helps in e-commerce by aiding decentralization of settlement like XRP (i.e. Ripple). Ripple supports transactions with big financial institutions such as Banks while Cybermiles Token (CMT) are involved with transactions in small scale such as hand-to-hand (peer-to-peer) parties. Cybermiles also allows for responsive and initiative participation in which bonuses are being recorded. As the cyber network enlarges, new bonuses or profits are given to their holders thereby giving an opportunity for people to show their extensive participation.

Lastly on the issue of Initial Coin Offering (ICO),there is known to be a market size of over $1 trillion on e-commerce application on Cybermiles. Cybermiles application makes use of CMT as their mode of issuing ICO to peer parties. This method is quite easy, fast and time-saving. This idea is as similar to Ethereum in which they issue ICO with ETH.

Based on facts and data available, Cybermiles will be known to be one of the most promising cryptocurrency in future even more than Ethereum itself. The aim is to incorporate blockchain technology into the modern world.

Why should you join Cybermiles?

Cybermiles has a purpose for both buyers and sellers in which they encourage that goods and products can be bought and sold with so much certainty. This is an eye opener which helps to invent and develop new ways in which a credible market system may be established. There is so much confidence participating in this because it is as credible as getting from Amazon or Walmart. Cybermiles being based on business transactions, contracts and commercial applications makes the credible system rise tremendously within a short range of time. Cybermiles are being used for various commercial applications such as turnkey solutions for the building of trading platforms i.e. c2c, an alternative mode of payment being structured & providing financial answers to e-commerce, a decentralized local business platform.

Cybermiles has its own mode of payment i.e. currency just like the way Ethereum has ETH, Cybermiles has CMT that controls the whole networking system. It is a high liquid currency that is widely acceptable in many applications and can be mined easily to users. These are the 2 things to be noted about the CMT (i. powers the system, ii. Liquid and acceptable). Cybermiles has 2 main differences when compared with all other existing cryptocurrencies. These differences are;

· Highly experienced team in the area of e-commerce with over 12 years of working experience that participates in the developing and execution of answers for commercial applications.

· Due to tremendous growth and development, there is likely to be early acceptance of Cybermiles due to amazing records set (over 12 million users) since the year of launch.

In short words, they contain features such as;

· There is a “master bonus/token” usable for e-commerce which ensures that other e-commerce platforms can run on the blockchain system.

· They have a secure, transparent and secure system which makes sure that fraudulent practices can be exposed and all other necessary information are secured.

· Ensure safe and secure transactions take place with CMT as a currency or mode of payment.

· CMT is easily accessible and acceptable due to its liquidity (high).

· It has a collection or archive of commerce-related transactions.

· It is useful so that all other e-commerce site can be found on one site easily.

· It establishes an alternative credit system which promotes small-scale businesses and personal lending.

· It brings into existence a real, virtual market where goods and services can be met.

CMT Token Issuance

The CyberMiles Foundation proposes to initially generate and issue 1 billion CMT, however over time, this may expand and be capped at 10 billion CMT. Further information about when and to whom CMT are proposed to be allocated can be found below.

Upon the completion of the proposed CyberMiles token contribution (“Token Contribution”) for 700 million CMT, there will be a total of 1 billion CMT in circulation.

Token Contribution is proposed to launch soon after incorporation of the CyberMiles Foundation. For further information and updates regarding the Token Contribution, prospective participants are invited to provide their email address at http://cm.5miles.com. Further updates and announcements regarding the timing and the details of the Token Contribution will be communicated through the website.

Use of Token Contribution proceeds

The proceeds raised from the initial Token Contribution are intended be used for the following purposes:

Fund the development and establishment of the CyberMiles blockchain protocol;
Marketing and operating expenses related to the expansion and migration of 5miles’s platform to the CyberMiles’ blockchain network. Arrangements with 5miles and the CyberMiles Foundation will be at arms length;
Research and development costs incurred by the CyberMiles Foundation in developing the CyberMiles platform.

Allocation of CMT

In addition to the hard cap of 700 million tokens to be issued for the Token Contribution, it is proposed that another 100 million tokens will be pre-allocated to 5miles, in consideration for its role in establishing the CyberMiles platform and developing the initial ecosystem for CMT. This will be a key component of a strategic partnership in which 5miles contributes its brand, technology, and integration of its 10+ million registered users with CyberMiles and CMT. A further 100 million tokens will be pre-allocated to the CyberMiles team & partners, for developing the technology & operating the Foundation. The token allocation for both 5miles and for the CyberMiles team and partners will be subject to a long-term (2.5-year) vesting period.

Token Supply Schedule

As transactions occur on the CyberMiles chain and Smart Business Contracts are executed, the transactions will be processed and validated through a delegated-PoS (“D-PoS”) consensus engine system, and will result in newly minted tokens to incentivize & compensate the network participants. The mechanisms for the D-PoS engine are in-development, but the CyberMiles Foundation will target an eight-percent (8%) compounded annual increase in the total number of tokens, from the close of the Token Contribution Event, until the 10th year anniversary. Upon the 10th anniversary of the Token Contribution Event, the Foundation will decide, based on the development of the CyberMiles ecosystem and with input from the community, on the targeted growth in the token supply for subsequent years. Regardless, the Foundation is proposing a long-term cap of 10 billion tokens as the maximum number of CMT tokens that can be issued and circulated.

Inflation Schedule

As discussed above, the delegated-PoS (Proof of Stake) mechanisms will be developed to effect the targeted outcome of 8% annual increase in total number of tokens, until the 10th anniversary of the close of the Token Contribution Event. Below is the targeted inflation schedule for the active supply of tokens:

Time Series

A time series of the targeted number of active tokens in circulation, by allocation, for the first 3 years:

The CyberMiles Core Team and Advisors

Dr. Lucas Lu, CEO/Founder of 5miles.

Dr. Michael Yuan, Director of the CyberMiles Foundation.

Alex Lau, Director of the CyberMiles Foundation.

Frank Lee, Advisor to the CyberMiles Foundation.

Amanda Bush, Advisor to CyberMiles and 5miles.

Malachi Boyuls, Advisor to CyberMiles and 5miles.

Mark Brinkerhoff, Advisor to the CyberMiles Foundation.

Garwin Chan, CFO of 5miles.

Rick Cantu, General Manager of 5miles.

Trey Troxel, Product Strategist at 5miles.

Valerie Coleman, Director of Business Development at 5miles.

Natasha Mehra, Project Manager at 5miles.

Project Milestones

Apr. 2014 5miles established.

Jun. 2014 5miles receives $5 million (USD) Series A investment from SIG.

Oct. 2014 Testing of the 5miles app begins.

Jan. 2015: 5miles app launches in the US.

Jun. 2015 5miles receives $17 million (USD) Series B investment, led by IDG and Morningside.

Nov. 2015 5miles introduces user-verification and fraud-detection technology, further strengthening its’ innovative marketplace safety features.

Jan. 2016 5miles’ gross merchandise value reaches $100 million; receives $30 million (USD) Series B-1 investment, led by Blue Lake and Puhua.

Jan. 2017 5miles surpasses 11 million users, becoming a top 10 shopping app in the US (data from Similar Web); begins exploring blockchain initiative.

Jun. 2017 5miles receives $10 million (USD) follow-on funding from existing investors (pending closing).

Aug. 2017 5xlab formally launched, focusing on CyberMiles blockchain program; developing CyberMiles v.0.1.

Oct. 2017 CyberMiles Foundation to explore the issuance of CyberMiles tokens (CMT).

Dec. 2017 CyberMiles Foundation to launch v0.1 of CyberMiles’ “smart contract” modules.

June 2018 5miles app to begin accepting CMT to facilitate multiple marketplace applications.

Dec. 2018 CyberMiles Foundation to launch v1.0 of CyberMiles.

Mar. 2019 CyberMiles modules to be available for use on other platforms to facilitate further adoption.

WEBSITE :

CyberMiles (CMT) - Hubungan antara Teknologi Rantai Blok dan Bisnis di Dunia Nyata
CyberMiles Memberdayakan Desentralisasi E-commerce. Praregistrasi untuk ICO Segera Berakhir. Bergabunglah sekarang!cm.5miles.com

WHITEPAPER: https://cm.5miles.com/file/project/Project%20white%20paper_en-US.pdf

ANN THREAD :

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