After a year of intense research and development, the CyberMiles team is ready to announce the official launch of our native blockchain and smart contract platform. It is a big step toward our goal of decentralizing — and democratizing — e-commerce. From now till Oct. 15, 2018, the CyberMiles Token (CMT) will be migrating from the Ethereum blockchain to the CyberMiles native blockchain (CyberMiles’ MainNet).
A long journey
The design goal of the CyberMiles blockchain is a platform that is specifically optimized for decentralized e-commerce applications.
One of our key innovations toward this goal is Lity, CyberMiles’ programming language, which we coupled with our own virtual machine (the CyberMiles Virtual Machine, or CVM). As open source projects, Lity and the CVM represent more than sophisticated technical additions to CyberMiles — they provide answers to scaling issues that plague today’s blockchain community in general. Furthermore, they offer features that enable smart contracts to be created for real-world, practical business purposes. Thanks to Lity and the CVM, developers now can utilize blockchain technology more fully, with greater ease, speed, and in a smarter way.
The CyberMiles blockchain utilizes our own Delegated Proof of Stake (DPoS) consensus protocol. Our algorithm design calls for 19 Supernodes (also referred to as Validators) to reach the optimal balance between decentralization and speed. Over the past month or so, CyberMiles has announced 26 different Supernode candidates from around the world.
The release of CyberMiles’ blockchain
Upon release of the CyberMiles blockchain software, there is a possibility of minor delays in the official launch of the blockchain network by the Supernode candidates. The already announced 26 candidates will compete to be elected among the 19 genesis Supernodes. This will be based on their technical competency in setting up secure and high performance CyberMiles blockchain nodes, and the amount of stake each obtained — i.e. self-staked CyberMiles Tokens, plus staked CMTs from the community.
A question of time
In order to become a genesis Supernode, the candidate must first set up a fully synchronized CyberMiles blockchain node that meets our protocol’s security, availability, and performance criteria.
At that point, the candidates with the highest volume of CMTs staked will be selected to run the CyberMiles blockchain. For example, if the 19th Supernode has a total amount of CMTs staked at 50 million, the candidate who wishes to be elected will need to own more than 50 million, calculated with its self-staked CMTs, plus the staked CMTs from the community.
Once some of the 19 Supernodes are established, up and running, by Oct. 15 the CyberMiles blockchain will be fully operational and handed over to the community. Hence, in the event new candidates wish to become Supernodes, they’ll need to compete through the same requirements listed above.