Understanding Cybermiles CMT

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Cybermiles CMT is a decentralized blockchain platform. When there are so many decentralized blockchain platforms, then why another one, one may think. Well, Cybermiles has a specific purpose and aim. The objective of this platform is to boost e-commerce and also to empower online marketplaces. How is it done? The company does so by clubbing many brilliant blockchain technologies so that smart business contracts can be built that has a single pointed focus on e-commerce.

The platform runs its own crypto token by the name of CMT. It is a two-faceted token. On the one hand, it integrated on the Cybermiles platform and is used on it. On the other hand, it is also used on dApps (decentralized applications) that are created on the Cybermiles (CMT) Blockchain.

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CMT is based on Ethereum Blockchain and is currently an ERC20 token. There are speculations that Cybermiles is currently under the process of developing its own open-source Blockchain, as per todaysgazette.com. If it happens successfully, then the Ethereum based CTM token will get swapped by a native Blockchain based CMT token. At the moment the company is working in synch with 5miles. 5miles is a U.S based e-commerce app company. CMT’s aim for working with 5miles is to build an advanced blockchain that can be used to further boost the adoption by the mainstream as well as optimization of e-commerce. The successful collaborated work can lead to a good reserve of business contracts that can be used to create decentralized apps by the developers, and also to optimize business contracts.

Background about Cybermiles CMT-

Cybermiles Foundation Ltd. manages the company- Cybermiles. It was founded by Dr. Lucas Lu who is also the CEO of the company. Lu is also the founder and CEO of 5miles. The company has earned 1 Billion CMT tokens. The all-time high market cap of the company has been 10 Billion CMT tokens.

As per the information obtained from todaysgazete.com, the company started its pre-sale on 21st November, last year. 700 million CMT Tokens were made available for presale, and the remaining 300 million tokens were kept reserved for other purposes. CMT managed to raise 30.8 Million U.S. Dollars from the presale on the first day of the presale.

CMT Goals-

CMT targets to address low developer productivity and low efficiency. The company plans to strike this issue with the help of building a blockchain based feature called- smart business contract. This feature is based on Proof-of-work consensus. It will make use of virtual machines. This eventually will allow to bring about a standardized middleware with the help of all the nodes on the blockchain network.

The running of the smart business contracts can be drawn parallel to the way smart contract run on the Ethereum Blockchain. In addition, these CMT smart business contracts can make use of the templates that are accessible in the middleware stack. This stack will also be in connection with the blockchain of CMT.

If you want to purchase CMTtokens, you can get your hands on them by trading these tokens for Ether, Bitcoin, Tether, and so on. As on 5th of this month, the CMT traded at 1.2 percent against the U.S Dollar. The token can be purchased at 0.0273 U.S. Dollar or 0.00000686 BTC. You can buy it on exchanges such as Koinex, CoinBene, DragonEX, and Binance. The total market capitalization of CMT is 21.83 million U.S. Dollars.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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