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And now imagine if you could help shape this technology by being part of the network? No, CM is a new blockchain protocol being developed and optimized for business and marketplace applications.
CM is being developed as a “fat protocol”, consisting of a blockchain-based “virtual machine”, and defined modules of middle-layer software stacks operating outside the chain, to support decentralized processes governed by smart contracts implemented on the network.
Imagine a world in which consumers can buy and sell products amongst themselves with the same confidence and certainty as they would from Amazon, or Walmart.
Or if individuals could create their own marketplaces, and manage these communities in a truly democratic way.
5xlab seeks to use this expertise to develop Cyber Miles, with focus on trust and compliance.
This will enable it to be a mainstream blockchain technology for real-world businesses.
In contrast, CM is being developed to build smart-contract modules to maximize the computing efficiency required for completing transactions on a timely basis.
Over time, CM can be used for many different types of commercial applications, including: turnkey solutions for building c2c trading platforms, community-based dispute resolution, structuring alternative payment & financing solutions for e-commerce, enabling local businesses to run targeted, real-time promotions, or building a decentralized, community-based ride-sharing platform.
Almost all of the transactions and interactions on 5miles is point-to-point (between buyers and sellers), and a large portion of our users are both active buyers and sellers.
With more than 10 million users and millions of commercial transactions, 5miles provides Cyber Miles & its smart-contract modules with a mature ecosystem to quickly develop and scale up its marketplace applications.
In contrast, most other blockchain projects first develop the technology, and then search for applications, which is inefficient and highly uncertain.
CM is specifically developed for transactions and commercial applications.
The existing general-use platforms tend to be extremely inefficient for contracts governing specific commercial transactions, as they are not designed for those purposes.