CyberMiles Blockchain Network Releases ‘Travis’ Mainnet for E-Commerce
CyberMiles is a new public blockchain that is optimized for the e-commerce world. It recently announced that the highly anticipated release of the Travis mainnet. This follows its introduction of Lity, which is the CyberMiles’ programming language.
It also released its virtual machine (CVM) a short while ago. The complete CyberMiles blokchain is the result of a year-long effort. Additionally, the mainnet makes good on the companies token offering last fall. During the token offering, the company raised 84,000 ETH from participants in over 110 nations.
— CyberMiles (@cybermiles) October 15, 2018
What This Means
The release of the mainnet will improve safety and speed on this platform. In fact, it is estimated it will be 20,000 times faster than Ethereum. This is thanks to the virtual machine technology that it is using. According to Dr. Michael Yuan, the Chief Scientist, this launch will help them to decentralize e-commerce, as we know it.
With the release, CyberMiles will offer a strong alternative for Ethereum app developers. This is especially true for DApps for the e-commerce world. Some of the main benefits are:
Cybermiles has created customized smart contract template for e-commerce firms, which allows them to deploy onto the blockchain with ease. Furthermore, the Delegated Proof of Stake blockchain is fully compatible with Ethereum. This means that smart contract and Dapps can be moved to CyberMiles without changing the code.
CyberMiles is built around the idea of an optimal response to huge transaction demands in e-commerce. It can handle up to 10,000 transactions a second.
For e-commerce firms and the users, the safety of funds is important. CyberMiles has implemented protection they call pre-defense and post-recovery
In modern e-commerce, fees and costs play an important role. The CyberMiles blockchain does not have any transaction fees for common operations. It does this without affecting the network security.
The First Participants
5miles, which is a popular P2P market, plans to be the first DApp to use the CyberMiles mainnet blockchain for real-world business. The company, based in the US, will move its 15 million users and over $3 billion in annual transaction volume to the CyberMiles mainnet. According to Dr. Lucas Lu, the CEO of the CyberMiles Foundation and 5miles founder, this represents a new era for the world of e-commerce.
The blockchain will feature its own DPoS consensus protocol. This will be an algorithm that is designed to use 19 supernodes. This will help it achieve the optimal balance between speed and decentralization. Following the announcement that there would be 26 supernode candidates, the community will pick 19 supernodes to power the network. This will ensure that there is on-chain governance.
CyberMiles was created in 2017 and is incorporated in Hong Kong. It seeks to create a blockchain protocol modified for the world of e-commerce.
It utilizes smart business contract modules that facilitate and process transactions with ease and with transparency. The technology’s focus is on commercial apps. It comes with protocols that ensure a perfect balance between network compatibility and vertical effectiveness.