Bumo: the next generation decentralized application ecosystem
The bitcoin was the beginning of the new technological era based on the blockchain, but as time went by the technology developed more and more and more and for that reason new requirements or expectations were created, there is where ethereum is born with the application of the intelligent contracts demonstrated that this technology could be used in a different way since for the first time the blockchain technology was used for commercial transactions between the interested parts, governed under a series of trust previously agreed and with an absolute reliability.
But as time went by, many altcoins emerged with specific proposals applied to different sectors, such as medicine, music, video games and the internet of things. This is how the tokenization period in which we are currently living begins, where individuals give value to tokens according to their use or market demand, which can be exchanged for products, services or points.
BUMO emerges from this demand for greater and better decentralized applications, presenting itself as the next generation of the basic commercial public block chain, which aims to build a trusted network of ubiquitous value circulation.
About the beam Project
The development of the industry of the cryptomedas every day is presented as a more demanding market is why the first crypts as bitcoin and ethereum have great challenges to overcome around the scalability due to the low level of transactions per second that can handle, there are cryptomonedas with great scalability but with stability problems is why Bumo is presented as the alternative to solve this amount of problems in a simple and efficient way.
BUMO is currently focusing its efforts in the development of an infrastructure highlighted by the transfer of ubiquitous and reliable value through high performance services, rapid design and development of systems and DAC. As for the technical functioning of bumo this works with a double layer consensus algorithm and a protocol between chains, which translates into a great scalability of 10000 TPS. The technology used allows to connect thousands of intelligent devices and convert them into nodes obtaining the benefits of the digital economy within our reach.
The application of Bumo will allow people without any knowledge in the programming to create their own Apps by means of a series of preestablished templates in the system in which the user only has to select the one of his taste and then intuitively shape it until moulding it to his taste. BUMO plans to build an ecosystem of exchange thus solving the great problem that arises in the development of applications, through chain governance, the economy of tokens and apps.
One of the main objectives of this system is to provide tools to ordinary people to give value and tokenize their assets, goods, services or reward points, which will be supported by the decentralized system of bumo which is not based on traditional mining which has great problems due to the centralization of mining power by large groups, to avoid all this bumo will have a lottery election mechanism for nodes through which the chain of blocks can be updated decentrally in the many devices of IoT.
The token used by the network of bumo is called BU and is used to cover the cost of gas in the network and the cost of transactions and operations that are carried out when making the development of apps or the creation of a new token.
The rewards to the nodes will also be delivered in Gas from the Smoke Network, thus allowing the development of their own financial ecosystem based on BU.
Leroy is a canine stylist very passionate about the world of crypto coins. He has wanted for some time to implement this technology in his local business, but as he has no knowledge in programming has become discouraged. Until one day he gets Bumo and discovers that he can create his own apps using templates and also create his own token with the name of his shop furyuspoodeling.
Now he offers his services through the app and gives tokens as rewards to his customers to be redeemed for a lot of services in his store.
Bumo presents us with endless possibilities where users without knowledge in the programming can create from their tokens to their own app, in a quite simple and friendly way. The system has a great scalability of 10000 tps which makes it attractive for commercial groups who want to join the project and implement the system in their businesses by creating a feedback system that will make the financial ecosystem of bumo develop in big steps.
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My Twitter Link: https://twitter.com/j3cesar/status/1052155853590147073
This Article was made by @j3cesar for the contest of @originalworks, Sponsored by bumo
Link to the contest: https://steemit.com/crypto/@originalworks/1250-steem-sponsored-writing-contest-bumo