CyberMiles (CMT) is one project that has been flying under the radar for some time now, but one that has the potential to transform ecommerce as we know it for good. That’s because it is designed to bring unaparalled efficiency into the e-commerce industry. Think of it like a next generation eBay. Therefore, it is not surprising that it was selected as the most promising blockchains during the recent global blockchain technology expo. So what makes cyberMiles special?
One of the best aspects to CyberMiles is that it is a blockchain that is optimized for the development of business smart contracts. While there are many other blockchain projects that can be used in the creation of smart contracts, most of them require that the contracts be written from scratch. With the cyberMiles blockchain, a smart contract makes use of an existing integrated business software. This not only makes it pretty easy and efficient to write smart contracts on CyberMiles (CMT), it is also way cheaper because the contracts once developed; can always be reused.
On top of that, a cyberMiles smart contract takes into consideration the rules of the business world, and not just the technical aspects of programming. There are so many factors that go into a business contract that might not be captured in an ordinary smart contract. To solve this problem, CyberMiles allows smart contracts developers to access a business software framework called the middleware stack. By accessing this framework, developers can create smart contracts that include aspects such as multi-step contracts, as well as other generally accepted rules (written and unwritten) rules of the business world.
CyberMiles also makes use of the Tendermint Byzantine fault tolerant consensus engine. This is an engine that allows the decentralized system to continue functioning effectively, even in a situation where one third of the nodes in the delegated prove-of-stake fail. The byzantine fault consensus engine, therefore, CyberMiles highly effective for business applications. That’s because business people can create, and execute their business contracts without any downtime. When you combine this with the fact that the CyberMiles blockchain can handle up to 10,000 transactions per second, it is not hard to see why it was selected as the best blockchain project for financial services.
Last, but not least, CyberMiles (CMT) has the potential to change how loans are made and disbursed in the finance sector. That’s because it allows for the use of a person’s blockchain identity to be used in peer-to-peer lending. This means that someone can lend you money on the blockchain, without having to know your personal identity. They would money based on your immutable blockchain transactions profile. This system guarantees privacy, and could easily open up financial services to people all across the world, who would otherwise never have access to peer-to-peer loans.
With all these factors at play, it is clear that CyberMiles has the potential to emerge as one of the most important blockchain projects on the planet. In the future, we could see mega e-commerce companies, running as applications on the CyberMiles (CMT) blockchain.