What Is CyberMiles?
CyberMiles token is the native currency on the eponymous platform designed to improve the efficiency of online commerce transactions. Built on the Ethereum blockchain, it is also compatible with smart contracts and dApps. CyberMiles’ goal is to create a smart contract protocol and library for the development of e-commerce. The developers also intend to make CyberMiles the leader in its field.
Compared to its better-known competitor, CyberMiles offers lower fees and higher network bandwidth. CyberMiles runs a DPoS protocol, where one can stake their CMTs to participate in the network’s governance. In exchange, one can receive CMTs minted through systematic inflation and transaction fees in every new block created.
Pros and Cons of CyberMiles
Advantages of CyberMiles
CyberMiles’s developers are notoriously known for their preceding successful project 5miles, one of the most popular e-commerce companies in the United States. There’s also backward compatibility planned between the two projects, so CyberMiles can receive a robust client base of over 12 million people. This should provide strong support and demand for the CyberMiles token. For now, it holds a place within the top-700 cryptocurrencies.
Disadvantages of CyberMiles
Despite all the exciting features, CyberMiles is competing in a fairly saturated market and sets an ambitious goal to become a leader amongst many. CyberMiles has to offer something new to persuade people to switch to its platform instead of its well-known competitor, Ethereum. CoinMarketCap also indicates that there’s an extremely low return on investment for this coin. Whether CyberMiles reaches its goal is yet to be seen.