The e-commerce sector has emerged as the most transformative force in the contemporary retail sphere. To push the industry further, CyberMiles aims to build a decentralized e-commerce ecosystem where everyone can earn incentives provided by the CyberMiles Token (CMT).
Driven by the desire to design and implement an economic system, CyberMiles has incorporated Blockchain into the e-commerce space. With this platform, CyberMiles looks to overcome the shortcomings of the already operative systems.
CyberMiles is a Smart, Fast, Safe and Free blockchain network.
CyberMiles has developed smart contract templates to help e-commerce firms execute their business on the blockchain seamlessly. Through the CyberMiles blockchain, e-commerce businesses can access a large group of existing seller and buyer networks who can use CMT for their in-app transactions and participate in loyalty programs.
Moreover, the CyberMiles blockchain is compatible with Ethereum. So, both decentralized apps and smart contracts can co-operate within the CyberMiles blockchain without altering the code.
CyberMiles has developed a virtual machine that handles 2000 transactions per second (TPS) on its TestNet. This is expected to reach 10,000 TPS once the MainNet is deployed. In comparison to the Ethereum Virtual Machine (EVA), the CyberMiles Virtual Machine (CVM) is around 18,000 times faster. For instance, EVM takes 35 seconds to complete 20 million additions, whereas CVM takes only 3 seconds.
CVM supports Scrypt transactions because it features a community contributed module that consists of Scrypt implementations. CVM therefore, surpasses EVM processing time for computing addition, multiplication, bubble sorting, and the Scrypt algorithm, by 11.5 times, 12.8 times, 199 times and 18,039 times, respectively.
Safe transaction of funds is a priority for e-commerce businesses and their customers. To address this effectively, CyberMiles implements protection shields termed as ‘pre-defense’ and ‘post-recovery.’ ‘Pre-defense’ detects suspicious behaviors on its blockchain and blocks them automatically. The ‘post-recovery’ system supports the recovery of lost funds through a community consensus mechanism.
The transaction fees that CyberMiles charges is minimal as compared to its peers. Also, the network does not impose costs on recurrent transactions to reduce the overall expense incurred by users.
With its innovative, cost-effective and user-friendly techniques, CyberMiles will pave the way for an efficient decentralized e-commerce platform.