Get to know how CyberMiles work



Great CyberMiles mission

CyberMiles has a goal to create a smart contract platform, this platform has similarities with Ethereum, it's just that it's quite heavy to be optimized in facilitating e-commerce transactions. the advantage of the Blockchain that CyberMiles has is that it provides an opportunity for users to enter into business contracts imposed by computer codes. this was done with the aim of building an original e-commerce ecosystem from the network era:
  • there is no centralized monopoly on rent-seeking
  • fairer allocation of network rewards
  • stronger network effects through economic incentives.

all of this will give a result that will be the new generation of e-commerce networks that are easier for buyers to reach and will provide more profits for sellers.

Get to know DPoS

DPoS or Delegated Proof-of-Stake is an increase in PoS mechanism. this mechanism has similarity with representative democracy with the right to vote for land in the community. In DPoS, give rights to the token holders in choosing representatives, and elected representatives are commonly referred to as "Validators" who will later become the representatives of all token holders in running the network.
operation. The validator will run a super node, which professionally runs a network server to ensure the performance and security of the blockchain network. and this is a solution to PoS performance problems. to represent the voice that is given someone needs to participate in risking the token. and each token that is at risk will be locked by the network as a guarantee when a selected validator does something wrong, then the token will be truncated. tokens that have been pledged as collateral will not be transferred back to the validator, tokens are only used as evidence of the strength of the votes and incentives for holders of tokens to choose those responsible and competent validators to maintain the blockchain. Potential penalties solve The problem "nothing is at stake". On CyberMiles, we believe DPoS is a high-performance future and blockchain is safe consensus.

How CyberMiles DPoS works

Delegated Proof of Stake is a very important mechanism in the chain system CyberMiles chain that has the task of giving prizes to each holder of tokens, who contribute to maintaining security and integrity. network protocol.
There are two roles in the CyberMiles DPoS protocol: delegator and validator.

Delegator and validator

a person who has chosen to be a delegate must risk CMT possessed in order to participate in managing the blockchain network through a voting mechanism. For CMT, the stake will be held by the network and cannot be traded or transferred because and this (CMT) will be deducted when a delegate makes a mistake in governance. and instead a delegator will get CMT printed through systematic inflation and transaction costs in each new block made by the network. and CMT can be called a block award. In essence these delegators generally cannot run the actual computer server power of the blockchain network, but these delegates have the duty to choose a validator to carry out this task by risking the CMT they have owned. The selected validator has a responsibility to maintain important network infrastructure, as well as setting rules for changes, decisions and governance on behalf of its delegates. Because only 19 validators will be in the CyberMiles system, so the validators must be able to compete to get the delegator's votes to be able to rent by providing secure servers, roads the latest, software, adequate computing power, and network bandwidth to provide global power blockchain network.Validators will get paid by the delegators, they will be paid using a portion of the delegator block award. and this payment is called the validator compensation. This compensation must be validator declared at the time of nomination so that the delegators know the maximum compensation level they have to pay, and this compensation can reduce the validator voluntarily. with this level of compensation the validators can recognize delegates who have made significant contributions to the community. when a validator makes a mistake or tries to damage the network it will allow the network to cut the bet, this behavior will cause harm to the delegates. therefore delegates are required to risk CMT only for reputable and trustworthy validators, because this will have an effect on increasing security in the entire network.

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