What is CyberMiles (CMT)?
Future of CMT Cryptocurrency and know how to buy CMT

#1 - What is CyberMiles?

CyberMiles (CMT): The basics

  1. CyberMiles is a decentralized blockchain platform which focuses on empowering e-commerce and online marketplaces. To achieve its goal, CyberMiles is integrating several innovative blockchain technologies to develop commerce-oriented “Smart Business Contracts”.
  2. CyberMiles is working closely with the US-based e-commerce app company 5miles to create a next-generation blockchain optimized for e-commerce and designed for mainstream adoption. It serves as a large library of optimised Smart Business Contracts, which can be used by the developers to build decentralized applications.
  3. CyberMiles’ native cryptocurrency CMT token is integrated with, and used on the CyberMiles platform. dApps that are built on the CyberMiles blockchain as well. Currently, CMT is an ERC20 token based on Ethereum blockchain. CyberMiles is developing its own open-source blockchain so in the near future, the Ethereum based CTM token shold be replaced by the CMT token created on the native blockchain.

CyberMiles Development

  1. CyberMiles is being developed by 5xlab and managed by CyberMiles Foundation Ltd. with assistance from 5miles. The company was founded by Dr Lucas Lu who also founded 5miles and is currently serving as the CEO of both CyberMiles and 5Miles. Dr Michael Yuan and Alex Lau have been appointed as the directors of the company.
  2. The company has minted total 1 billion CMT tokens. However, this limit may be increased in the future. The maximum cap for total CMT tokens is set to 10 billion. CyberMiles began its presale on November 21, 2018, with the goal to raise $30.9 million USD. The company managed to raise $30.8 million USD on the first day itself.
  3. Only 700 million CMT tokens were made available for sale. The remaining number of tokens has been reserved for multiple purposes. Refer to the chart below for more detailed information on token distribution.

CyberMiles CMT tokens allocation table.

 

#2 - What are the benefits of CyberMiles?

CyberMiles Technology

It is a well-known fact that most blockchain technologies have two major issues of low efficiency and low developer productivity.

  1. CyberMiles hopes to address these issues by creating a new blockchain protocol called "Smart Business Contract". The protocol works on the Delegated Proof-of-Work consensus and includes a virtual machine in addition to the ability to access the Middleware Stack outside of blockchain. This enables every node in the network to support standardized middleware while running blockchain ledger.
  2. Smart Business Contracts: CyberMiles Smart Business Contracts will run on the native blockchain, similar to how smart contracts sun on Ethereum blockchain. However, unlike Ethereum smart contracts that require every application to be developed from scratch, Smart Business Contracts can access reusable templates available in the middleware stack that is already integrated into the CyberMiles blockchain.
  3. Middleware Stack: The Middleware software stack is a set of business software frameworks that run every time when a Smart Business Contract is executed. These software frameworks are integrated into every node in the CyberMiles blockchain network, which allows Smart Business Contracts to access these frameworks outside of blockchain. The CyberMiles Middleware Stack consists of following components:
    1. Rule Engine: The Rule Engine defines certain business-oriented rules for Smart Business Contracts. It is used by the network validators for executing the Smart Business Contracts.
    2. The Business Process Manager (BPM): The Business Process Manager is an enterprise software that implements the Finite State Machine (FSM). The BPM facilitates the execution of Business Smart Contracts in multiple steps. It depends on the Rule Engine to decide its next step.
    3. Distributed Database: The Distributed Database stores the application and framework data, excluding transaction data, which is stored on the CyberMiles blockchain itself. Since the Middleware resides on every node, the data is automatically synchronized across all the nodes in the network.
    4. Distributed File System: This service is needed by the Smart Business Contracts and middleware service to manage large data structures.
    5. Distributed Webhooks: CyberMiles integrates a web server to enable the interaction between middleware services and external parties. BPM needs an input from contracting parties to process the next step determined by the Rule Engine.

 

#3 - How to buy and store CyberMiles Token?

How to Buy CMT Token?

  1. Users can obtain CyberMiles tokens through trading on a cryptocurrency exchange. Several cryptocurrency exchanges allow CMT trading in exchange for Bitcoin, Ether, Tether and some other cryptocurrencies.
  2. CyberMiles cryptocurrency is available for exchange on several leading cryptocurrency exchanges, such as Binance, Huobi, IDEX, OKEx, Zebpay, Koinex, DragonEX, etc. For beginners, it can get difficult to compare CMT rates on every market individually. Instead, users can take the help of CoinSwitch.
  3. CoinSwitch is the largest cryptocurrency trading platform. It allows its users to access the entire cryptocurrency market at one place. Users can compare CTM rates against other cryptocurrencies in real-time, across all the exchanges and choose the best available rate. CoinSwitch allows users to compare and trade more than 300 cryptocurrencies.

How to Store CMT Token?

Since CyberMiles token is an Ethereum based cryptocurrency, only ERC20 compatible wallets should be used to store CMT. Some popular options are listed below:

  • MyEtherWallet
  • Coinomi
  • MetaMask
  • imToken
  • Jaxx
  • Ledger Nano S
  • Trezor

 

#4 - What is the future of CyberMiles?

Trend So Far

Also Read: Complete Analysis of CyberMiles | Live CyberMiles (CMT) Price Charts And Predictions

  1. As of July 2018, CyberMiles has a market capitalisation of over $114.3 million USD, which ranks it on 89th position on the global cryptocurrency market. Currently, 692,803,551 CMT tokens are in circulation from the total supply of 1 billion CMT tokens.
  2. Since its launch on November 21, 2017, CyberMiles price has been gradually growing with obvious market fluctuations. The market volatility had caused its price to reach as high as $0.56 USD in January 2018. As of July 2018, the price seems to be lingering around the $0.16 USD mark.

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 17, 2018

0.164489

0.180265

0.155721

0.175884

17,317,400

113,902,000

May 01, 2018

0.246472

0.274659

0.221435

0.274659

83,078,100

156,234,000

Mar 01, 2018

0.138529

0.145350

0.137086

0.141636

5,836,440

61,672,800

Jan 01, 2018

0.236731

0.268110

0.231027

0.256598

12,897,000

100,799,000

Dec 06, 2017

0.368892

0.438127

0.160091

0.180608

12,580,000

-

Observing the previous and present trends of CyberMiles in the market, a section of analysts believe that it can be a profitable investment in the long run. By the year 2023, its price is expected to rise by 1148.99% reaching $2.1. However, these predictions do not give 100% certainty of growth, considering the fluid nature of cryptocurrencies.

 

#5 - How is CyberMiles different from other cryptocurrencies?

  1. Unlike Bitcoin, Which seeks to replace the current peer-to-peer transaction platforms, CyberMiles is a blockchain platform especially designed to aid the e-commerce industry.
  2. CyberMiles has opted to use Delegated Proof-of-Stake (DPoS) consensus over Proof-of-Work (PoW), which is used by Bitcoin and Ethereum.
  3. Although CyberMiles is inspired by the Ethereum, It has improved upon many issues that lie in Ethereum blockchain. CyberMiles has developed an improved blockchain protocol with its own Smart Business Contracts.
  4. The Smart Business Contracts are a set of smart contracts, optimised for e-commerce usage. These contracts also facilitate an easy app development by allowing app developers to access reusable templates embedded into CyberMiles blockchain.

 

#6 - Should you invest in CyberMiles?

  1. CyberMiles stands to benefit from its already established sister company — 5miles. In fact, it is a blockchain protocol being developed by the 5xlab with 5miles in tandem. 5miles is ranked among the top-ten e-commerce platforms in the US. This close partnership will allow 5miles to migrate its 12 million users to CyberMiles blockchain enabling them to use CMT tokens on its app.
  2. If we look at the performance of CyberMiles in the cryptocurrency market, it is not hard to ignore the growth it has exhibited since its inception. As of July 2018, its price is floating near $0.16 USD compared to its initial price of $0.1030, allowing nearly 158% return on investment.
  3. With a substantial rise in e-commerce in recent times, CyberMiles seems to possess a lot of potential for growth. Analysts believe it to be a lucrative investment for a long-term with its price having the potential to reach at $2.1 USD by 2023.
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