The 5miles user data migration to the CyberMiles blockchain is being implemented as planned. We have started exploring e-commerce DApps. At the same time, the technical team is planning a major virtual machine upgrade to support alternative gas fee mechanisms, which will greatly reduce the DApp barrier of entry and allow far more users to experience the CyberMiles blockchain technology. Based on community’s input and suggestions, we will also adjust the reward mechanism of the DPoS protocol for better transparency.
E-commerce DApps will see significant progress in this quarter. The community will release C2C e-commerce products, making it easy for users to buy and sell things. The virtual machine will also continue to see upgrades that are tailored to the needs of e-commerce. At the same time, the CyberMiles Foundation will continue to contribute technologies to the larger community under open source. For example, we will continue our code contributions to high profile projects such as the Uniswap Exchange.
If a theme should be named for this quarter's work, it would be "open source". This quarter we will release the a technology standard for creating e-commerce stores on the blockchain. Anyone who conform to this standard will be able to create stores on the CyberMiles blockchain and start selling anything they want. In addition, we plan to make significant contributions to the official Ethereum 2.0 Virtual Machine eWASM. We will also make our staking API available to third party developers, publish a CMT Wallet SDK, and gradually expand the reach of our technology.