Do I Own a Shitcoin?




Cybermiles - Shitcoin Review

on Sep 18, 2018


ERC-20 ERC20 ETHEREUM CYBERMILES



*puts glass of whiskey down*

*exhales calmly*

“I live my life a quarter mile at a time..”

OR CYBERMILE AT A TIME AMIRIGHT?

Today’s review is Cybermiles.

Stfu, ignore this intro, and let’s dig in…

 

Cybermiles (ticker: CMT)

Mid-Tier Shitcoin

 

Wtf is this shit?

Cybermiles is a smart contract platform, with an emphasis on e-commerce. Ethereum is awesome, but its current throughput sucks ass (not in a good way, if you’re into that). For a platform to support many serious projects it needs to be able to process thousands of transactions per second.

Cybermiles created smart business contracts, which are essentially the same thing as Ethereum smart contracts in the sense that the contract is executed by a blockchain node and validated by a miner when a new block is created…..then the resulting transactions are recorded to the blockchain.

The main difference is in the offering that comes with a smart business contract.

They offer a library of e-commerce related smart contracts which divide up each function of an e-commerce platform into pieces, and allows users to take advantage of exactly what they need. They also offer other software which they say acts as middleware, facilitating communication between outside data and internal blockchain data - similar to Ethereum oracle projects. This functionality is easily integrated with smart business contracts so not everything needs to be written from scratch.

Additionally, they take advantage of a DPoS model to ensure consistent uptime from nodes and provide scalability. Cybermiles is claiming to be able to handle tens of thousands of transactions per second. The ROI is around 8% a year which is solid for PoS implementations.

Overall, they aren't doing any groundbreaking shit, but they are aiming to create a practical environment for smart contracts. Aside from how we feel, they have made their way up CoinMarketCap sitting at #84 at the time of this writing. We think this might have to do with the company behind them...

 

Who tf is behind this shit?

Behind the shitty Cybermiles name, is the company 5miles. 5miles is an ecommerce app in the US with over $50M in funding and millions of users. Lucas Lu is the CEO of 5miles and Cybermiles, and he founded 5miles in 2014. He received his PhD in Particle Physics in 2005 from SMU. He has previously founded a company called Light in the Box where he was CTO, and they went public on the NYSE. He was also the GM of a couple Alibaba business units. In the business world it seems he has a big swinging...you know..

 

All in all, mid-tier shitcoin. Not a bad concept, but we are skeptical as to why they would offer a cheaper solution to their existing business model of being a successful ecommerce company…

 

Anyways, hope you learned some shit.


Chat soon!

- Mike and Aaron