At CyberMiles, our mission is to build a decentralized ecosystem for e-commerce. Much of this work is to design and implement an economic system. The network must be able to attract a diverse group of participants to share resources in order to truly achieve network effect. Core to the CyberMiles design is economic incentives provided by the CyberMiles Token (CMT).
Ecommerce was invented 47 years ago and it has completely changed our lifestyle. This innovation has opened new possibilities that couldn’t be imagined before.
Yet, a few large corporations dominate the market. This causes small businesses and consumers lose profits, innovation slows, and consumers and network contributors are in the dark about where the money they have been taxed goes.
The conventional wisdom of e-commerce is “winner takes all” — the one or two largest players dominate the market, set the price, and extract most of the profits.
The reason for “winner takes all” is that e-commerce has a strong network effect. The largest network of buyers and sellers wins. Until now, the network is owned and operated by a corporation because a central authority is needed to validate transactions and enforce the rules
The CyberMiles blockchain aims to be the public blockchain for all e-commerce related transactions. Building on the Smart Business Contract technology, CyberMiles is specifically optimized for e-commerce. It has the benefit of a single large network, and yet is maintained and validated by the community of trustless peers.
E-commerce businesses can build on the CyberMiles blockchain to access a large network of sellers and buyers, and can use the CyberMiles Token (CMT) as the basis for their own in-app tokens to support programs such as shared loyalty points. CyberMiles is the future of e-commerce.
At Cybermiles, we have incorporated Blockchain into the e-commerce world, mixing the benefits from both innovations into a single platform. CyberMiles is Smart, Fast, and Safe, blockchain network while staying Free to everyone.
CyberMiles has built customized smart contract templates for e-commerce companies to deploy their business on the Blockchain with ease. With the implementation of this technology, the issues related to e-commerce are solved, efficiency is improved, and the relationship between sellers and buyers are strengthened.
Through the CyberMiles blockchain, e-commerce businesses can access a large group of existing seller and buyer networks.
Additionally, CyberMiles’ DPoS blockchain is fully compatible with Ethereum, which means that both Smart Contracts and Distributed Applications can be transferred to CyberMiles without changing any code.
Transaction speed is an important criterion for e-commerce. CyberMiles handles 2000 transactions per second (TPS) on its TestNet and will reach 10,000 TPS once the MainNet is deployed. In comparison, VISA can only manage a maximum of 6,000 transactions per second.
CyberMiles was built around the concept of optimal response to high e-commerce transaction demands. A Safe Mode and Unsafe Mode will also allow even higher TPS by reducing the number of nodes.
For e-commerce businesses and their users, the safety of funds is a fundamental feature. To answer this financial security need, CyberMiles has implemented a protection defined as “pre-defense” and “post-recovery”. The first will automatically detect suspicious behaviors on its Blockchain and block them. The post-recovery system supports the recovery of lost funds through a community consensus mechanism.
Costs and fees are a critical issue in e-commerce today. Small to medium businesses survive on e-commerce platforms by paying a large part of their sales to network fees, negatively affecting their profitability and opportunities to of invest in innovation.
With CyberMiles, the interests of each individual and business are protected against this situation, thanks to a network that requires very limited transaction fees.