The "attack of kittens", as I like to define the case of the crypto kitties on blockchain Ethereum, has given great teaching to the world of crypto-coins. The considerable traffic generated by the game has, in fact, highlighted significant criticalities on the most famous and advanced blockchain such as the Ethereum. In those days, in fact, the blockchain was saturated and it was almost impossible to carry out an operation, a transfer or interrogate a smart-contract. With the current technology, therefore, one cannot think of a single blockchain on which to transfer all the projects in circulation. It is necessary to have more blockchains and maybe, why not, think of a proper standard, in order to constantly regulate the same on the operations necessary for the execution of the project that we want to develop.
The 5xlab development team has thought of this. Working closely with the 5miles LINK group, one of the largest American e-commerce companies, which has about 12 million users, the developers have developed a custom-made blockchain protocol for e-commerce platforms, to make these latter transparent and respectful of all applicable laws.
The goal of the development team is to create a blockchain totally compatible with that of Ethereum, able to read and execute the latter's applications and smart-contracts, with a 100 times higher TPS speed (TPS - transactions per second). The improvement to make is also in terms of safety. The project wants to be more user-friendly, able to stop the smart-contracts that show evident bugs and losses of Ethereum, introducing, at the same time, an internal management system (governance) for the recovery of the funds defined lost. The management system is based on the consent of the community, which in the majority must recognize the bug and then push for the recovery of lost funds. Finally, an economic question: unlike Ethereum, the CyberMiles blockchain significantly reduces transaction fees and has the aim of eliminating them. The differences between the two blockchains are well represented in the following images:
The ICO (Initial Coin Offer) sold out on November 21st 2017, marking a sold-out in less than a day and raising $ 30 million. The distributed tokens had the 7000 CMT / 1 ETH exchange rate and today they mark a ROI (Return of Investment) of 92.5%, with token value of $ 0.1, after reaching the maximum peak of about $ 1 last January . Currently the token is listed on Huobi, Binance, OKEx, CoinBene, Bibox, IDEX and Cobinhood. The token released was an ERC20, that is compatible with the Ethereum blockchain, waiting to complete the development of the main-net and release its token to the owners of the first issue ERC20 tokens.
The first e-commerce blockchain comes alive on 03.31.2018, with the launch of the test-net, or the test blockchain, before the launch of the main-net, that is the operational and usable version for each platform.
The test-net was called Travis, in honor of the heroes of the Texan Revolution, to remember the origins of the development team. The first rumors on the test-net confirm 100% compatibility with smart contracts and applications (DApp) Ethereum, the speed of 100 times higher and the increase in security, through the introduction of the consent of the community in the recovery of funds that would be considered lost on the Ethereum blockchain.
Those who know programming languages can easily check what has already been developed by the team on the GitHub channel, listed at the end of this article, because CyberMiles is completely Open Source. By virtue of this transparency, everyone can offer themselves available to become "validators", or blockchain nodes with validation power. The validators will be voted by the community (staking process) as soon as the main-net is launched. Based on the consent of the validators, the blockchain will provide security and the possibility of recovering funds blocked by bugs or hacking activities.
As soon as the test-net will be launched, experiments will start on the first smart-contracts, to test the project's objectives in terms of performance.
Secondary objective, but very interesting in terms of the future of the project, is to allow projects that today run on the Ethereum blockchain (asset) to switch to CyberMiles with a simple swap, without the need for useless hardfork. This innovation, which could make CyberMiles' capitalization very high!
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