BUMO is a new technology network that uses the blockchain to integrate virtual assets and real assets into the block chain. This platform will also serve to house the value of any asset through a token creation process. The main objective of this ecosystem is to establish a platform where there is a great variety of different digital assets that add value to the platform by adding value to themselves. In addition to using the networks and some of the already existing public applications that are also extremely common.
How does the BUMO digital assets network work for the ubiquitous value transfer?
The BUMO digital network is open to all and runs autonomously. Users can add any device to the network and by doing so they will become a node within the network. The purpose is to create a joint network that works with an easy maintenance of low cost, that allows the development of applications and the free circulation of valuable assets without the need of a central entity that controls the traffic of the assets.
The platform uses a BCP consensus algorithm to ensure that transactions across the platform can support high scalability and have a security protocol of the highest level. Through the use of the cross-train protocol, users are guaranteed that high levels of scalability are easier than ever. It is said that this is due to the zero knowledge test that protects all virtual assets. This gives us the peace of mind that we are in a secure platform that will not collapse with the progressive increase of the users of the platform.
The system works through the use of intelligent contracts. The digital property is distributed free of charge throughout the blockchain network. Any user, whether institutions or individuals, can easily participate in the subsequent circulation of digital properties through purchase and sale or any other form of established access. This principle in which you switch from using a single control system, sometimes arbitrary, to using a socialized broadcast instead improves the circulation of virtual property. The users of the network are responsible for circulating the virtual property of each of the assets, in this context the ecosystem will serve to disseminate each of the characteristics, improvements and benefits of virtual properties.
Users can create their own contracts, use different DApps (using even existing programming languages such as javascript, phyton and even C and C ++ using the compiler). They can also create complex environments to easily improve their work and non-work environments. The tokens that are used to power the network provide a wide variety of different protocols for distribution, which means that each user can access the digital assets of their choice and in the way that is most convenient for them. The issuance of an asset certification agreement will facilitate the use and reuse of tokens or simply their storage in an easy-to-use wallet, so that users can have full and complete control of their assets.
How does BUMO solve the fundamental problems in blockchain development?
The ecosystem designed by BUMO proposes the development of a technology around the chain of blocks in a public way that basically consists of three levels:
- A decentralized trust network based on blockchain. Its operation is made up of blockchain technology that is developed with multiple features, such as an innovative consensus mechanism so that the opinion of users is a determining factor within the network, a structure of multiple chains of the main chain that eliminates bottle necks due to high transaction traffic and avoids long waiting periods for transaction confirmation, a main link structure of the main chain and friendly predesigned smart contracts for those with little programming knowledge and a library it would facilitate the work to the already more experienced developer.
- A credible value circulation system. The BUMO block chain uses multiple tools to establish the digital identity for the transfer agreement, the transfer value transfer, the decentralized transactions and the Dapp integrated exchange, to promote the maturation of its value distribution system.
- An applied ecology shared by the general public. The Dapp for the blockchain can be compared to the applications for your mobile phone. The Dapp not only provides users with an easier and more intuitive understanding of blockchain technology, but also serves as a valuable support for the entire network, integrating an existing network with the nascent blockchain network.
> SourceBUMO allows developers to use DAPP in their network to build a blockchain network based on the mature code base of BUMO and technical support. The architecture and the code of the central system of BUMO, based on the technology of the chain of blocks of Bubi, have been examined during two years in search of failures of security, unforeseen and operative failures. In addition, the use of the Bubi blockchain that has already provided business services for the banking, insurance, games and tourism industries in recent years allows us to be sure that we are in the presence of a platform with a view to revolutionizing the world of blockchain.
Start up
The Mainnet of the BUMO Phase 1 public network was placed online towards the end of May. BUChain Phase 1 already has the support of a large number of existing applications. From June to July, BUMO sought to integrate with the local communities of blockchain to organize a contest of developers based on the chain BUMO that is expected to have great impact even in the coming days. In addition to highlighting BUMO's bold moves in the industry, BUMO plans to open four offices, with locations including Silicon Valley, Los Angeles, Boston and Delaware, with the goal of creating as large a network as possible.
BUMOhopes that its innovation through the interconnection of preexisting technologies or applications will help to greatly promote the development and adoption of blockchain technology, allowing digital assets to flow freely on a scale never seen before in the past. block chain industry.
The transfer of value to another level
One of the big problems of the technologies of Block Chains and cryptocurrencies, is that these words, fashionable in recent times together have generated a great expectation and this lent itself to a number of exaggerations, promises, precautions and confusions in the technological scene in the last two or three years.
As the excitement surrounding the blockchain and its seemingly infinite applications grows, infinite problems arise that show users that technologies of this style are still emerging technologies. BUMO assumes the great challenge and takes a step forward and aims to create a chain-block ecosystem that hopes to allow the block chain to truly permeate the market and the world, becoming a viable solution for financial institutions, non-profit organizations, health care providers and individuals.
The main blockchain platforms of today, such as Bitcoin and Ethereum, are single-chain systems. These platforms with the dramatic increase in the number of users and the increase in blockchain transactions, the problems of scalability and low performance have become increasingly recurrent and more evident. BUMO has developed an innovative blockchain solution that leverages multiple-chain technology, hybrid consensus algorithms, cross-chain protocols and smart contracts. The goal of BUMO is to integrate these technologies to alleviate current blockchain bottlenecks related to performance, scalability and application diversity.
The team behind BUMO
(Steven Guo, co-founder of BUMO, began his study of the blockchain business in 2014. He recently led strategic investments for Grupo 21Vianet, one of the largest data center providers in all of China. 21Vianet operates the Microsoft Azure Cloud and Office 365 services in China and houses data centers for IBM and other technology giants. Steven Guo also participated in the creation of a cloud computing fund for the National Development and Reform Commission.
The co-founder of BUMO, Steven Lee, won his role as one of the first internet entrepreneurs in China and as the first blockchain practitioner. His experience includes working for Tencent, PPTV, acting as COO of Jiayuan.com and as founder of Betterwood. Steven Lee led the conversations with developer communities in Berkeley, California and in Atlanta, Georgia.
About BUMO Blockchain
BUMO Blockchain has been widely used in digital assets, commercial financing, stocks and bonds, traceability of the supply chain, commercial credit, joint credit information, public notarization, electronic invoices, data security, etc. BUMO is currently without a doubt the blockchain technology with which the main financial institutions are working, including Exchanges, Banks, and some non-traditional financial institutions, etc., to execute integration tests and complementation of their investment policies with the existing applications. With decentralization as a core, BUMO is committed to creating a new generation of value-based networks that allow digital assets to flow freely in real time from one user to another.
BOOM Blockchain Conclusion
BUMO mixes the Internet technology of the main applications used and integrates them into its ecosystem. This with the objective that no company or user is easy access because the ecosystem is designed to support the access of different types of smart devices with their respective operating systems. The technology requirements are low, so the network can be used by many different people without this being a limitation.It works with simple devices such as phones, tablets and routers. And since the necessary equipment is only a secondary requirement to manage digital assets, users can manage and perform a wide range of different transactions, contracts and services. At the same time, applications can be used to create relationships between users and services directly. Get more information about the company, including all technical specifications at bumo.io.
The platform easily connects digital assets with smart devices and users. The purpose of BUMO is to be used in multiple industries through an intelligent contract and a complete ecosystem of linked systems through which value can flow.
BUMO Benefits
Free Flow of Digital Assets:
· Static assets are practically useless
· Cross-domain circulation creates new magnitudes of value for all users interoperating through BUMO
Intelligent IoT Value Chain:
· 45 Billion IoT devices expected by 2020
· Intelligent devices can generate data and therefore create value
· BUMO wants to act as a universal, digital book, enabling this data to be traded seamlessly
Will eliminate fragmented communication protocols between different devices
Will eliminate high costs of network maintenance
Will eliminate fears born of lack of trust via illicit nodes on the network
More Information & Resources:
- BUMO Website
- BUMO WhitePaper
- BUMO TechnicalPaper
- BUMO Telegram
- BUMO Weibo
- BUMO Reddit
- BUMO Facebook
- BUMO Twitter
- BUMO Github
- BUMO Wallet
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