Despite the current bearish tendency of the cryptocurrency market, the CyberMiles Token (CMT), has managed to increase its value over the past months. This comes off the back of their recent testnet launch, which demonstrated that the CMT network will be capable of many innovative features that plan to revolutionize e-commerce. With all of its ambition and potential, CyberMiles will be able to continue gaining value into the future, especially once the mainnet is launched within the next few months. If you’re looking for a decent cryptocurrency to hold while everything else is falling, it might be time to invest in CMT.
In the last 3 months, most cryptocurrencies have taken a significant hit to their value. Bitcoin, for example, dropped from 9400 to 6500 USD, a loss of 31%. CMT, on the other hand, has managed to increase its value tremendously, rising 350% from 0.1 USD to peak at 0.45 USD in late May, before settling back to its current value of 0.30 USD.
CyberMiles – The blockchain revolution in e-commerce
In the ever-growing cryptocurrency market, it’s difficult to find a coin of value. There are hundreds of copycats, scams, and plain poorly executed projects. However, some ICOs show great promise. One of them is CyberMiles. This project is focused on e-commerce, and aims to integrate blockchain into online marketplace solutions.
Decentralization is the core principle of cryptocurrencies, and CMT understands that. They want to bring it back into internet shopping, fighting the hegemony of giants such as Amazon and Walmart. CMT aims to be the next generation Ethereum, serving a similar purpose but in a radically improved manner.
Nowadays, the costs of conducting business for an e-commerce store can be as high as 15% of the merchandise value, according to the CyberMiles whitepaper. This is as a result of the centralization of all key elements of online selling: listing reviews, dispute resolution, et cetera.
As it is, large merchants are favored, while small-time sellers have it hard. As a result, innovation is suffering because there is no competition for the e-commerce giants. A change is needed, and cooperating with 5miles, a leading e-commerce company, CyberMiles is up for the task.
Like Ethereum is considered a platform for ICOs, CyberMiles will be a platform for various e-commerce projects and applications. CyberMiles will solve the issues that prevent current generation blockchain projects from being used in online shopping through implementation of Smart Business Contracts, which will power the decentralization process. These will be powered by a Proof-of-Stake (PoS) consensus engine supporting a TPS (transaction per second) count higher than VISA, which can manage only 6000 transactions per second, compared to CMT’s ten thousand.
How will CMT change the e-commerce game?
Recently, the company has launched a testnet, code name “Travis”, which showed a proof of concept. This network was able to demonstrate the ambitious features that CyberMiles hopes to implement, such as incredible speeds, 100% uptime, and advanced anti-spam security systems.
The testnet showed that the CMT network is able to operate 100 times faster than the Ethereum network. This is thanks to miners on the network only being used to perform useful work, instead of challenging them with useless puzzles for the purpose of competing for blocks, as happens with the Ethereum and Bitcoin networks.
CMT also plans to implement a network with 100% uptime that is resistant to data failures. The network being node based, as long as one node is up and running, the whole complex will be online. In today’s centralized marketplace apps, this would require tremendous resources, akin to those at the disposal of Amazon. So, once again, we see how CMT can free the e-commerce market and give small companies an edge against the big.
With this plethora of ground-breaking features being delivered by 5miles, already a well established company, you can be sure that this project has the resources to compete with giants such as Amazon and eBay. This, along with the solid technical foundation demonstrated by CMT has certainly allowed it to catch the interest of investors. This is shown in the recent bull run that CMT has enjoyed, which shows no signs of stopping. If you’re interested in CyberMiles, now is the time to look into loading up on CMT, as the value of the token is set to skyrocket once the mainnet goes live. If you’re not sure how to purchase cryptocurrencies, follow this guide.