HONG KONG–(BUSINESS WIRE)–CyberMiles (CMT*), a new public blockchain designed and optimized specifically for e-commerce applications, is pleased to announce the highly-anticipated release of its ‘Travis’ MainNet. Following closely the introduction of Lity, CyberMiles’ new programming language, and its virtual machine (CVM), the fully-tested and complete CyberMiles blockchain network is the end result of a year-long development effort. MainNet also makes good on CyberMiles’ successful token offering last fall, which raised 84,000 ETH from contributors in more than 110 countries.
CyberMiles releases MainNet of public blockchain for e-commerce, delivering on promise of added safety and unprecedented performance (20,000 faster than Ethereum) thanks to virtual machine technology
“We’re very proud of this achievement, which represents a major milestone in our project plan,” Dr. Michael Yuan, CyberMiles’ Chief Scientist, said. “Significantly, it’s the culmination of our team’s mission to decentralize e-commerce and, in turn, democratize e-commerce as we know it today.”
With this official release, CyberMiles now provides a strong alternative choice for Ethereum application developers. This is particularly true for decentralized e-commerce apps (“smart contracts for e-commerce”), namely:
- Smarter. CyberMiles has built customized smart contract templates for e-commerce companies to deploy their business on the blockchain with ease. Additionally, CyberMiles’ Delegated Proof of Stake (DPoS) blockchain is fully compatible with Ethereum, meaning that both Smart Contracts and Distributed Applications can be transferred to CyberMiles without changing any code.
- Faster. CyberMiles is built around the concept of optimal response to high e-commerce transaction demands, reaching 10,000 transactions per second (TPS).
- Safer. For e-commerce businesses and their users, the safety of funds is a fundamental feature. CyberMiles therefore has implemented a protection defined as “pre-defense” and “post-recovery.”
- Free. As costs and fees are a critical issue in today’s e-commerce, the CyberMiles blockchain waives transaction fees for most common operations. It achieves this without sacrificing network security.
5miles, a popular peer-to-peer marketplace, is planning to become the first decentralized app to use CyberMiles’ mainstream blockchain technology for real-world businesses. The U.S.-based company will migrate its 15 million existing users (along with more than $3 billion in marketplace transactions annually) now that CyberMiles’ MainNet has been released.
“This is the dawn of a new era for e-commerce,” Dr. Lucas Lu, C.E.O. of the CyberMiles Foundation and founder of the 5miles marketplace, said. “Blockchain technology has the potential to revolutionize this industry, and our native blockchain and smart contract platform is at the forefront of that revolution.”
The CyberMiles blockchain is using its own DPoS consensus protocol, an algorithm design that requires 19 “Supernodes” (also referred to as Validators), to reach the optimal balance between decentralization and speed. Following CyberMiles’ announcement of 26 Supernode candidates from around the world, the CyberMiles community will elect the final 19 Supernodes to power the network and enable its on-chain governance process.
To learn more about the CyberMiles blockchain network, go to cybermiles.io.
*Note: CyberMiles Token, known as CMT, should not to be confused with Comet Coin, also listed on some crypto exchanges as CMT.
Smart contracts for e-commerce, CyberMiles is a decentralized blockchain protocol specifically designed and optimized for online marketplaces. Established in 2017 and incorporated in Hong Kong as the non-profit CyberMiles Foundation, CyberMiles uses innovative “smart business contract” modules to facilitate and process transactions simply, effectively and with transparency. This technology focuses on commercial applications with protocols that ensure the appropriate balance between vertical effectiveness and network compatibility.
With the October 2018 release of its “Travis” MainNet, CyberMiles provides a strong alternative choice for Ethereum application developers, particularly for decentralized e-commerce apps. Visit cybermiles.io for more information.