Developing Blockchain Applications on the BUMO Network (Workshop Recap)
On October 30th, 2018, BUMO organized a development workshop in the Lash Miller Building of the University of Toronto, in collaboration with The Innovative Financier.
A successful event, close to 40 attendees participated with more than half the room filled with developers with front-end, back-end and full stack background. Also, in attendance were entrepreneurs and industry enthusiasts looking to stay in touch with the latest technology developments and improvements in the industry.
A special attendee from China was Jing Wang, CTO of BUMO. As one of the trailblazers of blockchain in China, Mr. Wang is a senior expert of business-use blockchain, and holds various related patents. He explores powerful approaches of blockchain for commercial use and has more than ten years of system design experience in the Internet field, especially in aspects such as distributed systems, complex network control and cybersecurity. He once worked with famous companies such as Huawei. Bubi Technologies, the FinTech blockchain company he co-founded in China, presents blockchain solutions for banks, insurances, logistics, supply chain finance, digital assets, and more.
After some hearty food and refreshments, the event started with an introductory speech from the organizer and moderator for the evening, Othalia Doe-Bruce. Othalia is the Founder of InnovFin consulting group and a leader in two of the fastest growing tech communities in Toronto. Namely, the BlockchainHub at York University and The Innovative Financier. The Blockchainhub is a non-profit organization affiliated with York University and providing Blockchain education, research and commercialization of start-ups. The Innovative Financier is a non-profit group that covers the intersection of investment finance and disruptive technologies such as Blockchain, AI, IOT, Robo-Advisory and AR/VR.
In her speech, Othalia Doe-Bruce thanked the University of Toronto for providing the facilities and the students that helped in making the set up possible. As a thank you she presented an honorary gift on behalf of BUMO that would positively contribute to the students pursue of their studies at this esteemed institution. She then provided the agenda for the evening and introduced the next speaker for the evening, Kevin Liu, Director of North America at BUMO Foundation.
Kevin Liu took the stage to introduce BUMO, a production ready Blockchain ecosystem for ubiquitous value transfer.
It was interesting to note during Kevin Liu’s speech that unlike many Blockchain still in development, the BUMO blockchain is already somewhat mature with a main net launched in mid-2018. This blockchain seeks to do better where so many operating public blockchains fail at: High Performance, Strong Reliability, Ease of Use and Low Transaction Cost.
The strength of the technology is evidenced by the 35 companies and 10 banks already registered to the platform and generating 300M USD monthly financing value. These companies are coming from various industries including: Financial services, Insurance and HealthCare, Loyalty Programs, Sharing Economy and Gaming.
In addition, more evidence comes through the 15M users accounts on the network, 8M transaction volume and 30 DApps currently leveraging the platform, and spread across 3 continents and major cities such as: Toronto, Sydney, Boston, Singapore, Tokyo and more…
BUMO’s high performance and strong reliability translates into 3000 TPS, 2 layers polymorphic architecture; inter-chain routing value and a developer friendly smart contract on Blockchain.
Its ease of use translates into user friendly development kits and an incentive model that rewards clients with a crypto-back (i.e. cash-back) system the more transactions are processed through BUMO.
The BUMO Global Ambassadors unique incentivization system and soon to be announced Developers Bounty Program were also discussed.
Kevin Liu concluded his presentation by pinpointing the four unique ways BUMO supports entrepreneurs and developers: user-friendly technology, token design services, community/marketing support and token funding where applicable. He then introduced the BUMO coach for the workshop evening Yuan Su.
Yuan Su discussed how BUMO provides tangible solutions and generates concrete revenues for its enterprise clients. He highlighted BUMO enterprise compatibility and 50+ industry solutions. Furthermore, BUMO has a high TPS enabled by features such as signature, DPOS + PBFT consensus mechanisms and storage cluster. Very developer friendly it is characterized by a multi-level API, a functioning block explorer, an editor to facilitate code writing and a monitor. Its scalability is enabled by orbits and canal features and its security preserved by a Certificate of Authority (CA) function.
Diving a level deeper into the architecture, Yuan Su brushed upon the native APIs interactions with the BUMO network. Some call functions such as: search account, search transaction, search block and submit transaction as well as transaction and block status were concept easily understood. He then talked about the transaction structure which source address design from number sequencing to meta data made the ledger recordings unique, certain, atomic and extensible. These features when coupled with an undeniability of signatures once assigned to a transaction initiator add an extra layer of security to the blockchain.
The tech development kits which comprise an SDK, the Explorer, the Smart Contract Editor and the Health Status Monitor were also reviewed. One of the highlights of the kits being their adaptability to Java, JavaScript and Go Lang, popular developer coding languages.
The app development kits which comprise Identification Verification, CA Certificate, Justice Evidence, and Payment Settlement which have in common a strong focus on applying and enforcing the legal validity of the data.
Finally, Yuan Su reviewed the features of the BUMO smart contract based at its core on JavaScript but stricter with a built-in functions and variables (no need to learn new coding languages such as Solidity). It supports int64 number operations, and is easily readable and modifiable directly on the blockchain without the need of an intermediary such as a compiler.
Yuan Su concluded his presentation with a JavaScript SDK Demo, that brought all the previous technical details home to the attendees. He also answered some great post-presentation questions from the attendees.
The evening concluded with Kevin Liu urging the attendees to reach out to him for more information directly via his Linkedin page. He subsequently invited attendees to the inaugural BUMO social party on November 8th, 2018.
Watch the BUMO team interview and recap of the event below:
Overall, the event was a success and everyone left having learned about the unique and user friendly blockchain capabilities delivered for enterprises and developers by BUMO.
Presenters’ Bio
Kevin Liu is leading the North American community and ecosystem building for the BUMO Foundation. He is also in charge of the BUMO Global Ambassadors program and Open Source Developers Community.
He has over 5 years experience in the international market and business development. A practitioner in mobile internet entrepreneurship with an application of 160 million installations to date, he gained valuable experience in investment banking, product management and operation management. Kevin holds an MBA from the University of Chinese Academy of Sciences.
Yuan Su is Managing Director of Marley Consulting Group. Yuan has 15 years of hands-on development experience, ranging from machine learning model research to big data applications. Yuan has been involved in various blockchain asset projects as developers, advisors and managers.
To learn more about BUMO or join the community, please visit:
Website: www.bumo.io
Telegram Channel: https://t.me/bumo666
Twitter: https://twitter.com/BUMOproject
Github: https://github.com/bumoproject
Reddit: https://www.reddit.com/r/BUMO/
