Who are we?

CyberMiles Foundation Limited (“CyberMiles Foundation”), is a company limited by guarantee to be incorporated in Hong Kong and governed in a not-for-profit manner. It will work closely with 5miles LLC (“5miles”), with the aim of developing CyberMiles: a next-generation blockchain optimized for e-commerce and designed for mainstream adoption.

5miles is a leader in consumer-to-consumer (“c2c”) e-commerce in the United States. Its flagship application, the 5miles app, has over 10 million registered American users, and is estimated to surpass $3 billion in total transaction value in 20171

CyberMiles held a successful ICO last year on 21 November 2017 setting a new record in crowdfunding history by selling out all CMT in less then 44 Minutes raising a total of 84,146.5727 ETH

What is CyberMiles?

• CyberMiles is a new blockchain protocol being developed and specifically designed and optimized for business and marketplace applications. The protocol will consist of a blockchain based “virtual machine” and defined modules of middleware software stacks, which operate outside the chain to support decentralized processes governed by smart contracts implemented on the network. CMT is the native crypto token currency being created to be integrated with and used on the CyberMiles network, and on decentralized applications on the network.

• E-commerce businesses can build on the CyberMiles blockchain to access a large network of sellers and buyers, and can use the CyberMiles Token (CMT) as the basis for their own in-app tokens to support programs such as shared loyalty points. CyberMiles is the future of e-commerce.

What is purpose of the CMT ?

The primary purpose of the CMT is to incentivize people to work together to maintain the CyberMiles network. It is a utility token that pays for participants’ services to the network, like BTC and ETH. In order to earn CMTs, network participants (known as validators) will need to:

1. Maintain an immutable and agreed upon record of every transaction on the network. In the context of e-commerce, this includes all purchases, loans, payments, credit history etc. Of course, all information is anonymous, secure, and encrypted on the blockchain. This allows all e-commerce companies on the CyberMiles network to share access to buyers and sellers, and create a large network effect; and

2. Execute Smart Business Contracts on the network. Those contracts are software applications that automatically determines who should pay who at what time. Examples include escrow accounts, loan repayment plans and insurance plans etc.

The CMT is directly comparable to the ETH as the primary functions of the ETH are the same as the above. However, compared with the Ethereum blockchain, the CyberMiles blockchain is optimized specifically for e-commerce applications

CyberMiles Token

The CyberMiles Foundation proposes to initially generate and issue 1 billion CMT, however over time, this may expand and be capped at 10 billion CMT. The proceeds raised from the initial Token Contribution are intended be used for the following purposes:

1. Fund the development and establishment of the CyberMiles blockchain protocol

2. Marketing and operating expenses related to the expansion and migration of 5miles’s platform to the CyberMiles’ blockchain network. Arrangements with 5miles and the CyberMiles Foundation will be at arms length

3. Research and development costs incurred by the CyberMiles Foundation in developing the CyberMiles platform.

CyberMiles TestNet

CyberMiles’ Travis TestNet provides a strong alternative to Ethereum, especially for e-commerce use cases.

• It is fully compatible with Ethereum and can run all Ethereum smart contracts and DApps. Yet it is 100 times faster than Ethereum.
• It is safer than Ethereum. The CyberMiles blockchain proactively stops common smart contract bugs that had caused loss of fund on Ethereum. And if a loss of funds still occurs, CyberMiles supports an on-chain governance process to transparently recover the fund through community consensus.
• It is more user-friendly and cheaper to use than Ethereum. The CyberMiles blockchain waives transaction fees for most common operations. It achieves this without sacrificing security of the network.

The Travis TestNet currently has seven validator nodes across five continents. You can find the source code at https://github.com/CyberMiles/testnet

• There will be a live broadcast held by CyberMiles (CMT) on Friday March 30 at 11:45 (GMT+8) were the results of the first E-commerce blockchain testnet will be announced.

List of exchanges

You can buy CMT at many exchanges

The detail information you can refer at
Website: http://www.cybermiles.io/
Whitepaper: http://www.cybermiles.io/vision/
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Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1308037