Introduction

We are currently experiencing a great information revolution without realizing and without fully knowing the technology that surrounds us. New changes mean that we have to update constantly in knowledge related to new technologies.

The new technologies, related to our environment, are streamlining, optimizing and perfecting some activities that we carry out in our day to day life. Communication today is something that has advanced a lot, a communication that is much faster than before. An example of current communication, specifically through the Internet, in the case of transmitting messages, images, videos and all kinds of documents from different parts of the world during the 24 hours a day is something that has definitively displaced the sending of documents by other means, such as the conventional postal service.

Today technology has had a great impact with the arrival of cryptocurrencies and blockchain technology, this has become a hot topic for those who follow both financial news and technology. Many people approach motivated by the impressive quote that Bitcoin has reached and others by the opportunities offered by its base technology to build a new value network.

However, when we talk about cryptocurrencies and their technology, there are always issues related to buying and selling processes, the transmission of digital assets, storage of cryptoactives, as well as concerns about electronic devices that allow us to perform tasks in a more agile and efficient way. This is why we must know the new procedures that help us transfer cryptographic data with the best technology in the market.

It's here, and it's called BUMO

BUMO

Source

BUMO is a network or blockchain technology where existing digital trust and free circulation of assets are established to be credible and efficient, providing all the real benefits of the digital economy to improve people's lives. The ubiquitous network is created for the participation of all users in the construction of the Bumo blockchain network. It is also focused on increasing the ease of transportation through various networks within Things, Fintech and Social Networking Industries. By connecting digital resources, smart devices and user data.

Benefits

1.- It guarantees the use of intelligent devices to improve the fast communication and the exchange of value between the records stored in a chain of blocks.
2.- The components of BUMO serve as a way of collecting, extracting and processing data or information with the exchange of value that serves as revenue in the blockchain platform.
3.- It uses a mechanism called BU fireworks algorithm that guarantees the choice of dynamic validation to achieve a high transaction rate and scalability.
4.- The blockchain acts as a universal book that helps facilitate transactions within the intelligent IoT value chain related to BUMO and this will ensure that the intelligent IoT value chain is further improved by guaranteeing that the mode of Value transfer is decentralized and the cost implications are drastically reduced.

Smart Contract

SMART CONTRACT BUMO smart contracts are executed within BuVM (Virtual Machine BUMO). By creating a variety of templates and grouping them according to industries, users can create various applications that suit their needs. BuContract guarantees that the intelligent contracts of BUMO can be implemented in programming languages, such as JavaScript, Python and C / C ++. Some advantages of this are that users do not need to spend energy and waste resources, trying to learn such languages. BuVM will also support numerous languages through the WebAssembly technology.

Token BU

BUMO has designed its own incentive system, the BU token, a digital token that is used to give value to the economic activities that occur in the platform. The contracts and intelligent transactions will be executed through the chain of blocks of BUMO, for which a fee collection system was designed per activity that must be paid in BU.

To justify the amount of GAS that must be paid per transaction or activity on the network, the resources of the block chain have been divided as follows:

Charges will be charged for the storage and use of the network. Costs will be associated with the size of the operation. And there will also be a calculation fee, which will depend on the amount of BU weight that is maintained.

In the case of smart contracts, for example, computer resources will be consumed proportionally to the duration of the contract. This means that the contract should end as soon as possible. However, if the user wants the contract to last longer, he can transfer a certain amount of BU to the contract to extend it. The BUMO network allocates more time to the contract depending on the amount of BU it has.

Source

Conclusion

BUMO offers the necessary tools for the conformation and use of a chain of safe, reliable, fast blocks, which attracts different organizations because it facilitates the processes of collection and storage of cryptographic data and the processes of buying and selling digital currency. .

BUMO contributes with the solution of the problems of scalability, security and performance in the implementation of the chain of blocks, using intelligent electronic devices available to all people, thus allowing greater access to information from anywhere, at any time where there is simply a connection to the internet network.