BUMO. New generation Blockchain for business
With the emergence of Bitcoin and blockchain technology, it became possible to transfer economic values through the internet in a reliable, transparent and secure manner; without the need of a third party or intermediary. This is what nowadays is called the Internet of Value.
However, blockchain technology presents a series of problems that do not make it commercially viable. The number of possible transactions by the most popular blockchain (Bitcoin and Ethereum) is far below what VISA or MasterCard can do per second. In addition to this, the blockchain operations require a high energy consumption.
BUMO takes advantage of blockchain technology to create a new generation blockchain that allows using it commercially and also achieves the free circulation of digitized assets or securities. The main purpose of BUMO is to offer an infrastructure for companies that allow the free circulation of assets, in an efficient and scalable way. A universal tool that allows the negotiation of any type of digital asset and even more allows the exchange of tokens between different blockchains, thus interconnecting the blockchains.
BUMO makes all this possible through its infrastructure and much more.
Unlike the other projects that have been developed under the blockchain technology, whose main characteristics are its rigidity and its encapsulated approach; BUMO seeks to create a technology that unifies and facilitates the communication of these projects, creating a true potential on blockchain technology.
As indicated above, BUMO is a new blockchain generation for today’s entrepreneurs and businesses. BUMO defines a coherent infrastructure that manages the flow of values freely through its own technologies such as BU Orbit, BU Canal, BU Fireworks, BU CodeMach. It also provides tools for developers to easily create applications to access the BUMO network.
BUMO creates a new structure called BU Orbits as a multi-chain polymorphic system formed by the main chain and one or several sub-chains, in this way resolves the problems of the number of transactions and block size, information backup and requirements of diversity presented by conventional single-chain blockchain structures, such as Ethereum and Bitcoin.
BU Canal seeks to establish interoperability between different blockchains in an efficient and scalable manner. Making possible the free exchange/translate of values and assets between blockchains.
BUMO has created a mechanism of consensus of double layer (DPoS+BFT) specially designed for multi-chains. In the first layer, the consensus layer of the mainchain, the mechanism uses the DPoS protocol to select the validation nodes and uses the improved BFT algorithm to generate the blocks selected by the validation nodes. As you can see in the following image.
The BUMO smart contracts have better performance, security, and support of high-level languages, through a friendly development interface and have application extensions that make the work easier for developers. BUMO is oriented to offer the best development tools to create a fast deployment and reliable execution.
BU-Token or BU is the native token of the BUMO ecosystem and can be used within the platform as follows:
GAS: fuel to carry out transactions or execute smart contracts within the BUMO network.
Block reward: the validating nodes get a reward for each block generated in the BUMO blockchain.
Community incentive: it serves to encourage the supporters of the validating nodes, also the developers of system applications and the contributing users.
BUMO brings a series of new technologies to the world of cryptocurrencies. Presenting real solutions to the problems that blockchain technology presents today. Its disruptive infrastructure allows for inter-blockchain communication and, moreover, it makes it easier for users to use the digitized assets of each blockchain universally.