CyberMiles (CMT) has been one of the fastest growing tokens in April so far. The Ethereum based token started the month at a price of $0.09 and has since seen its price escalate to $0.20 as at Saturday April 28, 2018 10.12 AM EAT. The 120% spike in price has seen the coin climb up the Coinmarketcap charts to place 138th with a total market capitalization of over $127 million USD.
Daily trading volumes have also dramatically increased with the average number increasing from $10 million USD in the first week of April into $56 million USD per day in the past week. CMT/BTC and CMT/ETH pairs currently take up more than 90% of all the CMT daily trades showing the high correlation the token has on BTC and ETH.
As Bitcoin rose to over $8000 USD in the past three weeks, CMT rose as well with the price hitting a two month high of $0.203 USD per CMT. The token is currently traded on over 20 cryptocurrency exchanges with Huobi exchange and Binance exchange holding the largest 24 hour volume trades, 60% and 18% respectively.
The CyberMiles blockchain
CyberMiles (CMT) is a blockchain that focuses on the e-commerce market. The platforms aims at providing an all-round ecosystem of the e-commerce markets to solve problems associated with transactions of payments and data. The 5miles Holdings Ltd. collaborated so as to create a smart contract based platform that will allow users create ‘Smart Business Contracts’ on a decentralized network. The decentralized platform prevents online marketplace failure that is common in today’s centralized online marketplaces.
Through smart contracts, the 5miles project blockchain will record users identity on the immutable blockchains and allow safe transactions of data privately while enabling new transactions The platform also aims at To manage user identity & transaction data privately & safely, while enabling new transactions and settlements on the protocol.
The scalable nature of the CyberMiles platform makes it possible for over 1000 transactions to be carried out per second. The blockchain also deals with issues regarding governance on the system using its proof of stake (PoS) consensus mechanism. This allows the community members and token holders of the CMT platform to vote on how the platform will be run collectively. This will allow e-commerce disputes to be solved through a consensus making it safer and quicker to buy through the platform.
Partnerships on CyberMiles project
5miles has an online e-commerce app with over 10 million users and will target these users to join the CMT platform. The platform also allows businesses to create decentralized applications on the network.
The company is looking forward for more partnerships after Lucas Lu, the CEO of CyberMiles spoke after announcing the partnership between CyberMiles and LightInTheBox, an e-commerce company currently present in over 200 countries.
On Friday, CyberMiles (CMT) announced on Facebook of its partnership with ChainedBox, who provides mining machine solutions that support CBC points and IPFS encryption and also home data cloud. In terms of network, ChainedBox is represented by 100 000 nodes all around the world.