Recently, Wancloud, the cloud service provider, has announced to enter the Genesis Validator program of CyberMiles by adding a node on their blockchain. Wancloud has not only deployed validators on CyberMiles, but they have also done similar stuff for projects like Bitshares, Hyperchain, Qtum, Quorum, and Stellar. By the addition of this supernode on CyberMiles’ blockchain, Wancloud aims to expand the e-commerce services of the blockchain for the existing and potential partners to come.
According to CyberMiles,
Validators are responsible for maintaining crucial network infrastructure, and making rule changes and governance decisions on behalf of its delegators.
Through their Genesis validator program, CyberMiles aims to create an ecosystem where they would elect a validator based on the services provided by them for the creation of a better smart contracts system. In return, they would incentivize the validator by the compensation rates set by themselves. This election mechanism is an attempt to create a better blockchain, eliminating all issues faced by Ethereum blockchain and other blockchains. CyberMiles previously told BlockPublisher in this regard,
CyberMiles’ Smart Business Contract is designed to be far more powerful than Ethereum Smart Contracts. Marketplace functions currently centralized (like dispute resolutions) can be done, via CyberMiles, in a more efficient, cost-effective, decentralized manner, powered by the communities’ own incentivized members. This, in turn, will strengthen the participation and creativity of marketplace participants while at the same time allowing the network to become more dynamic and scalable.
The company’s own slogan describes their will to contribute to blockchain, it reads, “Wancloud Enterprise Contributor of Blockchain Innovation.”
Additional information about the partnership of Wancloud with CyberMiles contains the number of CMTs (CyberMiles’ currency) staked and the compensation rate specified. According to the blog post of CyberMiles,
Wancloud has staked 2 million CMTs and the announced compensation rate is 50%, both of these amounts can be adjusted.
Other than the provision of nodes, Wancloud also aims to provide a number of services for people all over blockchain. They have a dApp store, which has tools to facilitate developers. They also have cloud services and custom services for companies who are willing to dive in blockchain tech.
Last month, CyberMiles also announced a similar addition to the validator nodes, Genesis Validation, program. The company that partnered with CyberMiles for the project was SSSnodes also known as Shenzhen SSSnodes Blockchain Co. They showed their intentions for participating in the CM blockchain by addition of a supernode in their system last month. SSSnode has advertized their strong network development capability and operation capabilities that guarantee the efficiency and the security of the nodes. They are also engaged in developing and promoting dApps.
There are almost 19 validators in the system of CyberMiles from all around the world, these validators must compete to get elected by the delegates for the provision of a better ecosystem on the CyberMiles’ blockchain. Further explaining this, CyberMiles states, “Validators must compete for delegators’ votes (staked CMTs) in order to be hired by providing secure servers running up-to-date software, sufficient computing power and network bandwidth to power the global blockchain network.” The elected validator hence gets a portion of block awards in the form of validator compensation. The compensation that a validator gets is set by the validator itself at the time of staking.