CyberMiles blockchain platform aims at solving the current inefficiencies within the E-commerce ecosystem. So far, the project has been quite successful with the CMT token ranking 61st position in market capitalization. The crypto arena in 2018 has mostly been defined by protocol developments & significant partnerships although the trend in this market remains highly unpredictable. CyberMiles is among the cryptocurrencies that have recently signaled the release of a beta version for their public blockchain.
This new development will be integrated into the E-commerce applications and is available at the moment for testing before its release in Q3 2018. Travis is the name of this advanced platform and it will use similar Virtual Machines to Ethereum to enhance compatibility with the ERC20 standard. However, the network is 100 times faster than the ETH blockchain which is one of its competitive advantages. Meanwhile the CyberMiles team is open to investors with prospects of running their supernodes in future according to a tweet,
“Our mainnet being released soon, more and more candidates are announcing their interest in running a CyberMiles’ supernode. One of them is Shuanghua Capital, also involved in the #EOS’ Block Producer election under the name of @eosbeijing.”
CMT listing on Rfinex
In addition to the main net testing, the CyberMiles community is excited that CMT tokens will be listed in the Rfinex security crypto exchange today. An incentive of cost free transactions has been put for users that will operate with CMT tokens within a period of 24 hours after the initial listing. This move gives the CMT tokens a wider range of digital assets to trade against as well as credibility for both projects since the Rfinex exchange is not regulated. Speculations within crypto mostly tend to be positive when a coin gets listed on an exchange which might as well define CMT’s path in the coming months.
CyberMiles vs. Ethereum
Ethereum which is currently 2nd in market cap is facing competition from platforms like CyberMiles whose features are more enhanced. Therefore, it would be early to dismiss altcoins like CMT that have proven to use smart contracts in a more efficient manner in an industry that has the richest man in both America & China;
- Preventive procedures
Loss of funds within the crypto arena is not a new phenomenon hence the need for proper measures to avert this risk. CyberMiles has basically improved the Ethereum protocol that is vulnerable to losses attributed to deposits made in the wrong account. The CMT blockchain platform detects transactions that have been directed to the contract addresses instead of a user’s account and stops them. In addition to that, the network also identifies terminated contracts and stops any funds from flowing into the address.
· Lost funds recovery
The internet world is vulnerable to attacks or hacking even with top notch security protocols. Unlike the real world, blockchain platforms do not have police to enforce authority hence the need for proper recovery procedures. Ethereum has been hacked more than once proving that decentralization is not yet there in terms of security although this is about to change with CyberMiles. A recovery process within the CMT platform will be possible since the on-chain consensus of validators have the liberty to vote on recovery proposals. This will only be possible if the proposal gets more than 2/3 of the votes and will be recorded on the public ledger if refunded.
CMT Price Overview
CMT tokens are trading at $0.4023 and 0.00005632 against the dollar & BTC respectively as of press date. It is among the few altcoins that have been consistently green having gained 62% in the last month although the volatility was at a high of 59%. The token has been around for approximately 6 months and has accomplished the $250 million mark in market cap which translates to 0.0769% of the total crypto market. CMT token price could hit the $1 mark by the end of 2018 if prospects within crypto are better in Q3 & Q4.