CyberMiles (CMT) claims to be the first e-commerce blockchain that runs on the principles of smart, fast, safe and free. The blockchain is aiming at developing a decentralized ecosystem for the e-commerce landscape. The smart contracts allow entrepreneurs to launch their businesses on the blockchain, besides, its DPoS is completely compatible with Ethereum. This means that that existing smart contracts and Distributed Applications on Ethereum can be transferred to CyberMiles without the need to change the nodes.
The blockchain has been developed on the foundation of optimal response to transactions on e-commerce platforms and has the ability to achieve more than 10,000 transactions per second. Since safety in business transactions is paramount, CyberMiles introduced a new concept referred to as “pre-defence” and “post-recovery”. Most importantly, common transactions on CyberMiles network are free. Moreover, the zero fees are accomplished without compromising on the security of the network.
CyberMiles token (CMT) was launched through an ICO that was conducted in November 2017. The team raised $30 million after selling 420 million CMT. The project has been segmented into 5 miles sections of the roadmap for the development of the e-commerce app. In addition to the 12 million users who will start accepting CMT as a means of payment in summer of 2018. Significantly, the team is developing its own blockchain; the v1.0 to be released later in the year.
Still, on the same line, the team has been working on the beta version of its public blockchain and the smart contract platform, both of which are tailored towards e-commerce applications. The CyberMiles Travis TestNet is available for testing and as mentioned above it uses the same Virtual Machine as that of Ethereum to ensure compatibility of smart contracts and Distributed Applications. It has, however, been created to be 100 times faster than Ethereum smart contracts, cheaper, a lot more user-friendly as well.
The testnet was split into four parts, for instance, Travis the CyberMiles TestNet, a faster Ethereum, safety and lastly optimization of the user experience. The MainNet will be released in the third quarter of 2018. In the meantime, the team is accepting applications from investors and companies who have the interest of running their blockchain’s supernode. Various companies have already expressed their interest in operating CyberMiles (CMT) supernodes according to a Twitter message that read:
“Our mainnet being released soon, more and more candidates are announcing their interest in running a CyberMiles’ supernode. One of them is Shuanghua Capital, also involved in the #EOS’ Block Producer election under the name of @eosbeijing.”
The CyberMiles team believes that this is just the beginning and they will be receiving multiple applications from EOS and other communities in the industry. While replying to an inquisitive member of the community on Twitter, CyberMiles said:
“We plan to launch it as fast as possible but we need to make sure the blockchain is stable and flawless. The targeted date is Q4 2018.”
In other news, CyberMiles (CMT) token has been added to ICONOMI as a tradable asset. CMT will be exchanged as part of a Digital Asset Array (DAA). The DAA are, “combinations of digital assets created for users to simply diversify their investments.” ICONOMI said in an announcement of the listing:
“The next digital asset in our series of ten added to the #ICONOMI platform is the CyberMiles token. $CMT powers the @cybermiles decentralized ecosystem for e-commerce. Diversify your digital portfolio now at http://iconomi.net”
CyberMiles (CMT) is currently trading at $0.31 and is up 9.21% in the last 24 hours. The token has a circulating supply of 633,879,774 CMT while its trading volume is approximately $95 million. CyberMiles (CMT) has a market capitalization of $201 million.