CyberMiles (CMT) is working on a new decentralized e-commerce platform that it says will overcome the shortcomings of existing systems. The platform, under development, will consist of members that can leverage decentralization functionality in order to share resources.
CyberMiles Decentralized Platform
CMT will be the native cryptocurrency powering the network. Participants in the decentralized e-commerce platform will also be able to earn incentives provided in CMT. In preparation for the launch of the decentralized e-commerce platform, CyberMiles has unveiled a new virtual machine.
The machine can handle up to 2,000 transactions per second on its testnet, ideal for facilitating bulk e-commerce transactions. However, with the deployment of its mainnet, the number of transactions handled per minute should rise to 10,000 transactions per second.
CyberMiles Virtual Machine (CVM) is an upgrade of the Ethereum Virtual Machine (EVM). A high level of scalability means it can handle more critical tasks as well as transactions. The new virtual machine also uses DPoS consensus mechanism that enables enterprise applications to run much faster. Compared to the EVM, the CVM is 18,000 times faster. It also takes a mere 35 seconds to complete 20 million additions.
Further, the platform’s the CVM supports Scrypt transactions as it comes with a community contributed module. Scrypt transaction capability accords CyberMiles a competitive edge over EVM when it comes to the processing time for computing addition.
Security and Fees
CyberMiles decentralized e-commerce platform will also come with pre-defense and post-recovery protection shields. The shields will ensure safe transaction of funds for e-commerce business on the network.
The shields will be able to detect suspicious behavior on the blockchain and consequently block them automatically. Revamped security measures will also come with a post-recovery system designed to support the recovery of lost funds.
In a bid to attract more users and businesses into the decentralized e-commerce platform, CyberMiles is to charge low transaction fees. The network will not impose any costs on recurrent transactions, as a way of reducing overall expenses incurred by users.
CyberMiles is planning to position itself as an all-encompassing network with the launch of the decentralized e-commerce platform. Maintained and secured by trusted peers, merchants and consumers will soon be able to track their expenditures in a transparent manner.
The platform should benefit from having a massive network of sellers and buyers. The result should be an increase in the number of people using CMT tokens to purchase goods and services.
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