Altcoins

CyberMiles is Launching its MainNet Ahead of Time Migrating off Ethereum Blockchain

CyberMiles recently announced its plans to release its MainNet next month. Previously, in their interview with BlockPublisher, CyberMiles unveiled their plans to launch their MainNet in Q4 of 2018. They said;

The MainNet is expected to launch later this year, consistent with the anticipated milestones as of the token offering.

CyberMiles has managed to stick to its roadmap and in their recent blog post, they’ve given the details about the launch. Everything from Ethereum blockchain would be migrated to the native blockchain of CyberMiles. The main purpose is to become independent from the Ethereum blockchain to improve the scalability of the network dedicated solely for the purpose of smart contracts.

With this new blockchain coming into play, an independent optimal environment for the e-commerce related decentralized projects, which contains dApps and other projects, will be provided. The autonomy of shifting to a blockchain of their own will help the developers to add new features to the platform while upgrading the previous ones to form an ecosystem of smarter smart contracts.

The official launch date of the MainNet according to the press release is October 15th, 2018. During this launch, the CMT tokens (ERC20) would be migrated to the MainNet of CyberMiles and would become the native CMTs there. The ERC20 CMT tokens would be frozen once the tokens are migrated to the MainNet and they would become obsolete.

There are 3 main phases of the launch of MainNet, which include the migration period, the formal MainNet launch date and the native CMT distribution.

CyberMiles’ official blog post also lists some guidelines for the investors. The main steps that they have recommended are the deposition of the previous ERC20 CMTs into an exchange that supports the CyberMiles MainNet. The second recommendation that they have for their users is to download their own CyberMiles wallet for the mobile devices from their website. Once the ERC20 CMTs are transferred into the wallet, the ERC20 CMTs will automatically be converted into CMTs

A thing that has to be kept in mind are that the CMT wallet does not support withdrawal of CMTs before the MainNet launch.

They listed the exchanges that support the CyberMiles migration for the ease of the users and investors. The exchanges include Cobinhood, DragonEx, Huobi, Lbank and Okex while there are other exchanges who would soon announce their partnership. The most recommended way to convert the tokens is the conversion through CMT wallets.

The details of the MainNet launch can be found here!

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Shehryar Hasan

Performing artist, guitarist and sub-editor at BlockPublisher. Shehryar is an electrical engineer and blockchain enthusiast. He holds investments in bitcoin, ethereum, OST, TRX and Ripple. Email: shehryar@blockpublisher.com or contact the editor at editor.news@blockpublisher.com

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