INTRODUCTION
The aim of BUMO is to provide network that aids the free flow of information, with the help of smart devices that are used everywhere. Bumo concentrates on improving the east of transfer over different networks within the internet of things, fintech, and the social network industry through linking digital assets, smart devices and user data, and it will also enable true benefits of the digital economy inorder to help improve the lives of people.
The main or primary problem of using blockchain in value transfer is that network of values is not available. Even when your electronic device is part of the closed network, values are non transferrable to your electronic device, because if you do not own a private key your blockchain will not recognize the electronic device you use in connecting to the internet, thereby resulting in values, transferred to the receivers only when performing a complete transaction. BUMO produces a mechanism not too harsh in which update of blockchain can be achieved in a decentralized way across the many. IOT devices it desires to connect.
Bumo is a vital way of accomplishing integration of blockchain through implementation. Blockchains and their bottlenecks
Bottlenecks prevent us from blockchain technology in arks like;
Energy consumption: Blockchain mining requires a lot of energy and their uses more electric power fuwny in mining pools, which is on the very rise, in achieving the internet of values.
Performance: In platforms such as Bitcoin and ethereum their blockchain speeds very slow
Application Threshold: It is difficult to combine integrate applications on blockchain, which could be made easy with the clid of BUMO.
Value Isolated-Island: In other to build a good internet of values, values which are independent must not be separated from each other.
Network Composition
BUMO environment can be accessed within any device, with nodes that can help in network maintenance, value creation and application development. The following can be think of as roles in which participants plays;
Node: Electronic nodes is acts separately from others and are easy to see or notice i.e. when any electronic device are connected to the network.
Candidate Nodes: Nodes can also be seen as candidate node through a process in which numbers of nodes qualified are chosen as candidate nodes, the node passes through election in order to be suitable to be a validator nodes.
Validator Nodes: In nodes that network transaction fees are gotten through winning candidate nodes. Network seems to be seen everywhere when more devices are connected to BUMO.
Incentive System
The Bumo network is maintained with validators node therefore it is fair to be incentive to participants. The participant uses the supply of the network, when user being a transaction on Bumo network.
Smart Contract
BUVM is a platform where Bumo’s smart contracts are carried out. BUVM has large numbers of templators which allow the users that has no development background to provide high level application.
Benefits of BUMO
There is no skill required to write a Bucontract
It will remove of fairs which was caused by lack of tmst via-illicit nodes on the network.
Use Case
Alex manages phone stores with the aid of blockchain, but due to the bottlenecks effect of blockchains, which include slow-transaction speed. Alex plenned to advertise his products on various social medias, inorder to gain across to more customers which are interested in original phones. Alex was introduced to Bumo via his Enoms, and the cannot the with Bumo he can create a personal dAPP without background knowledge of APP development and at low cost.
Bumo website
Bumo whitepaper
Bumo Technical paper
Bumo Telegram
Bumo weibo
Bumo reddit
Bumo Facebook
Bumo twitter
Bumo Github
Bumo wallet
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