CyberMiles is the blockchain ecosystem that works for the betterment of e-commerce by launching smart contracts using newly TestNet Travis. It is a validator node that helps to keep the transactions safe and for making the organization grow without any hassle.
They prevent scams, spams, false advertising, conflict of interest, and also the network degradation. This helps the CyberMiles foundation to gear up the vetting process for the validators. Ensuring all the security, CyberMiles has also launched tokens for buyers and sellers and the tokens are called CyberMiles Tokens in short CMT. It is the native crypto token created or integration throughout the network.This helps to invest and raise the balance eventually.
Token Issuance
CyberMiles has initially proposed the service to generate and issue 1 billion CMT which may expand into 10 billion CMT. Contribution in the token is proposed to launch after the formation and the details will be uploaded to the websites. Token will be contributed and the proceedings will eventually be raised upon the intended Token Contribution. Such process will follow the following purposes:
The fund will be developed and established by the CyberMiles blockchain protocol
The expenses will be operated through marketing related expansion and migration of 5 mile’s platform to the
CyberMile’s blockchain network. All the arrangements will be at arms-length.The foundation will incur cost in research and development throughout the platform
Tokens Allocation
The tokens of CyberMiles or CMT will be allocated in a specific process. Such process is divided into four steps. The first one is initial CMT offerings. It will be pre-allocated as 700 million and there will be no vesting period and release mechanism. The second one is for CyberMiles Team and Partners and it will have 100 million CMT allocated with 2.5 years of vesting period and the release mechanism will be 10% per quarter.
The third one is allocated 100 million pre-allocated CMT for 5 Miles in 2.5 years of the vesting period and will have 10% per quarter release mechanism. The last one is allocated 100 million pre-allocation for the CMT Reserve for the end users. There will be no vesting period and it will be released a per Foundation’s discretion.
Token Supply Schedule
Transactions take places on the CyberMiles chain and Smart Business Contracts. This has been executed as the transactions will be processed and validated through the delegated PoS consensus engine system. This will ultimately result in newly maintained tokens to incentivize and compensate the network participants.
Such mechanism will also develop for the D-PoS engine in development. The CyberMiles Foundation will target an 8% of the compound annual increase in the total number of tokes.
Testnet
The Travis TestNet currently has seven validator nodes around the world. The number of validator nodes grows as the community grows because validators are selected by the community through the staking process. Check out how to deploy your Ethereum smart contracts or DApps on Travis.The code names of CyberMiles TestNets are to honor heroes of the Texas Revolution. They are to acknowledge our roots in Texas, and the revolutionaries and misfits who changed history.
William B. Travis is a commander of the Republic of Texas and a lieutenant colonel in the Texas Army. He died at the Battle of Alamo, where he famously wrote the letter, ‘Victory or Death
Inflation Schedule
The delegates will also get PoS or Proof-of-Stale mechanism in order to develop the effect of targeted outcome. The outcome will be of 8% of the annual increase in a total number of tokens. This process will be ongoing until the 10th anniversary of the Token Contribution Event.
CyberMiles is the current blockchain protocol that has been developed and specially designed for business and marketplace applications. Such protocol contains blockchain based virtual machine which defines the modules of middleware software stacks. This stacks will ultimately operate outside the chain to support decentralized processes. The process will be governed by the smart contracts implemented on the network.
Website : http://www.cybermiles.io/
Whitepaper : http://www.cybermiles.io/vision/
Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=1158187
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