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Introducing Bumo Blockchain

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  • Introducing Bumo Blockchain

    BUMO is a next-generation commercial-grade public Blockchain for ubiquitous and trusted value transfer, which is aimed to build a decentralized application ecosystem featured with extensive digital trust, free-flowing value and public-sharing apps.

    The main features which adds to their USP are:
    • Joint Account creation by incorporating “individual account weightage”
    • Using the Merkle-Patricia Trie to help store data in an efficient manner
    • A “Trailer” system which differentiates data into on-chain and off-chain data
    • Orbit architecture which helps create BUMO’s 2-layer multiform architecture
    • A 2-layer multi-chain consensus system which is going to scale them up to 10,000 transactions per second
    • The “Canal” system which helps with interoperability
    • Developer friendly tools to create smart contract
    • Allowing developers to build apps without creating a smart contract

    In this guide, we are going to look into some of the main properties of Bumo and see how they are going to improve the overall crypto ecosystem. So, before we go in any further, let’s look into these problems and see how they are affecting the crypto ecosystem.

    The Problems With The Crypto Ecosystem

    It goes without saying that the two biggest problems faced by the crypto ecosystem right now are scalability and interoperability. Problem #1: Scalability

    We have talked about blockchain’s scalability problem multiple times before.

    To keep it very simple, cryptocurrencies like Bitcoin’s and Ethereum‘s architecture was simply not designed to handle high levels of popularity and adoption. There are two factors which hamper the overall transaction throughput.

    Firstly, transactions only go through when miners themselves check for verification and put the transaction details in the blocks that they have mined. As you can imagine, this creates a bottleneck since there are only so many transactions that a miner can deal with at a time.

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