Introduction

The blockchain technology is that public record where all the transactions made are shared, it is a way to prevent counterfeits from occurring, and where it is almost impossible to forge a transaction, since it is a public record where there are millions of copies and for a counterfeit it is I would have to change the records of millions of computers, something completely unfeasible.

This is one of the reasons why the blockchain technology has been so accepted and has become a fundamental piece for cryptocurrencies, although the blockchain technology also allows to store any type of document.

The information in the chain of blocks is stored in a decentralized manner, so that no public entity will have the property of the information, that's where the mining comes in, since people can keep this information on the server and be economically rewarded , in this way all the information is verified.

In addition this technology uses a strong security, avoiding all the possibilities of a hack, and all the transactions carried out are irreversible. The information stored is completely public, but of course only the user who is making the transaction will be aware of all the information inherent in the transaction. The blockchain technology has solved big problems that were a headache, such as:

Distributed dynamic networks, since blockchain makes the demand with P2P technology
Cryptographic books for proof of falsifications, where they avoid manipulation and can identify the owner of the asset.
Consensus mechanism under uniform rules, this is the blockchain core since this process allows the verification and confirmation of transactions.
Inherent incentive mechanism, it is necessary to have those involved happy and this is possible through incentives.

Blockchain is undoubtedly the technology of the future, and has been revolutionary since its entry into technology, being very accepted, and is that according to the statistics for 2021, a large number of the most important companies worldwide will use the blockchain technology. And it is that blockchain is the technology where intermediaries are not needed to make a transaction, only the two parties involved are necessary, and it is a process that is registered in a public book, distributed in block forms.

BUMO

Quoting BUMO, it would be said that, "it is the ubiquitous trust network for the new generation of value circulation". For the construction of BUMO several aspects are necessary, one of them is the ubiquitous trust network, this refers to the power for this is of the users, since they are in charge of dominating their digital property, this means that The construction of the block chain is through the participation of all users.

Another necessary point is the connection between the "machines", since it is a bridge between the real and the virtual, in this way a ubiquitous trust system is established, where network antennas and applications are ubiquitous, creating this way a credible value circulation system.

The meaning of all this, and what BUMO is as such, is to try to establish the ecology that exists in the blockchain network with the ubiquitous digital confidence and the free movement of assets. All this focusing on blockchain, which is the network of the future of value circulation, in order to achieve an efficient technical support that is scalable, in order to satisfy the needs of companies and users of the digitization of assets and circulation. of value.

BUMO will do all this possible by creating the confidence for the solid circulation of value, connecting digital assets, through smart equipment and user data, so that in this way people are the beneficiaries of the digitization of assets that will come in the new era in the blockchain economy through transactions and digital protocols.

That is why BUMO has the vision "to create a new generation of a network of ubiquitous trust". Thus achieving in this way solve problems through the free flow of value as information.

The general problem

Currently with the Blockchain revolution and how it has impacted the market and the economy as we know it, users and companies expect a lot from this technology, hoping that it will solve the lives of many, but even today there are a lot of problems that can be improved and need to be improved if you want blockchain to be the solution for many.

Performance problem, despite the great impact of the blockchain technology have an Achilles heel which would be the small number of transactions per second that its most important representatives such as Bitcoin and Ethereum can handle, which means that it can not satisfy all users because of the small number of transactions per second they can handle, which makes this problem a major obstacle to further commercialization.
Problem of energy consumption, blockchain is represented by Bitcoin, is the star crypto in the chain of blocks, is undoubtedly the most mediatic and important, but it is necessary to solve a big problem with this cryptocurrency, which is the big consumption of energy that is extremely high. And in addition to this problem there is the concentration of some large entities, are those sharks of the sea who want to lead the entire ocean, eating small fish and leaving the medium fish without food, because they are large entities that work together taking All the benefit to them, is something that must be solved, because it is a decentralized platform.
Threshold of application, the high technical professional requirements that are necessary for an ideal development of the blockchain technology is a totally difficult need to please, since it is difficult to reach a large number of users in the blockchain ecosystem.
Isolated island of value, it is necessary to solve this problem if you are looking to reach more people and cross borders, because an isolated island of value is formed between them, limiting in a large number the assets, but all this is because the economic circulation it is practically closed, and the lack of liquidity restricts the flow channel and thus increases digital assets, thus being in a closed business environment.

Three important points in BUMO

Ubiquitous trust network, this trust is based on ubiquitous machines, it is necessary to count on the support of the users to make this process possible, since all data rights belong to the users, therefore they depend to a large extent blockchain maintenance, and in this way the network you trust will be anywhere possible.

Reliable value transfer system, for this process a ubiquitous trust system will be established, since online value flows must be everywhere, it is something very important, all this is necessary through the link between the real world and the virtual.

Public-Sharing DApp Ecosytem, all distributed applications are going to be ubiquitous, they need to be everywhere, be it digital identity, value transfer and decentralized, among others.

BUMO - Consistency mechanism and network composition

BUMO is totally autonomous, open and creates a link between the real world and the virtual world, besides any device can become a node, achieving in this way, be part of the maintenance of the network and the development of the application, forming a ubiquitous network to a large dimension, what Bumo seeks.

Source: WhitePaper, Page 7

BUMO proposes a consensus mechanism called Bu Firework, this is a "DPoS + PBFT" algorithm, which aims to achieve greater performance in transactions, better scalability and security. This is a different and better algorithm than the traditional POS and PBFT. And the main links of this BU Firework consensus algorithm are:

Node, BUMO takes care that any intelligent device can be one of the components, thus having the characteristic of autonomy, where all the nodes are transparent.
Candidate node, these are the nodes that request to be candidate nodes, these candidate nodes go through an election or lottery, where the amount needed or desired by BUMO is chosen so that in this way the candidate nodes can become a validating node.
Validating node, are those candidate nodes that were selected, these are responsible for the accounting of the entire network and sending resources, it is a strong job with a lot of responsibility but with a good incentive as they are rewarded with the transaction costs of the net.
Avoid Nothing-at-Stake attacks, those nodes that have a malicious behavior and that are only signing different blocks of the same height, will be eliminated from the set of validating nodes, carrying out another choice of the candidate nodes.
Avoid the long-range attack, so that this is possible the validation nodes will freeze when they are going to exchange the device, this will be done with the purpose that the validation nodes with bad intentions do not commit attacks on the system.

Bumo seeks to be the ubiquitous trust network, and with this composition seeks to achieve that goal, and is that today we can find more smart devices and a greater number of devices users can join the network as a node, thus achieving to build the trust network, making Bumo a more open and autonomous network.

Four key points in BUMO

BUMO is the platform responsible for generating public chains for companies, all this through the internet and can thus move value through technologies such as Bu Firework, Bu Orbits, Bu Canal and Bu CodeMach, as shown in this image:

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Improved Two-layer Consensus Protocol: With its best and revolutionary algorithm, ideal for two-layer multiple chains, it will be possible to manage a selection of even more dynamic validators, which will help to improve transaction processing.

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Two-layer Polymorphic Architecture for Multi-child Blockchain: It is a structure of two layers, which are its main layer and the secondary layer, and these have as meaning the different characteristics in the main and secondary chains. It is also easy to create a substring, has a book with hash and indexing and has a free value transfer in all block chains.

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Inter-Chain for Routing Value across Blockchains: This is a bridge for different chains and so in this way the value can be routed between several main chains, InterChain is like a router on the internet. And it has free transfer of value through blockchain.

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Developer-friendly Smart Contract: Extended programming languages so that in this way you can obtain a reliable data source for the intelligent contract.

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Intelligent value chain IoT

An important difference between intelligent and non-intelligent devices is that through smart devices users can obtain some value, apart from the value of the data. In the IoT, in the connection of value and intelligence of data you will be the necessary means to be able to produce better products. In the BUMO value chain, the block chain will interact as a unirversal digital free and thus facilitate the types of transactions between IoT devices.

BUMO is responsible for improving the delivery of value between IoT devices and in this way build a completely decentralized IoT intelligent value network. In the future the number of interconnected smart devices will reach a point where there will be problems, and this will have a too high cost of maintaining the network, for that reason it will become the rigid requirement of the industry to find different low cost solutions and simple.

And blockchain allows self-management and self-maintenance, in addition to coordinating and managing data transfer. By generating private keys for the devices, they can not steal from other users their data and thus improving the Internet of Things. BUMO integrates into its ecosystem the ecology of the block chain and the ecosystem of Internet of Things in order to achieve better compatibility with all intelligent devices.

BUMO service architecture

In the future, the digital economy will be something normal and daily in the world as we know it, because it is increasingly accepted, but there will be a problem, and that is that transactions today can be slow, with a low transaction yield and the cost of transactions is high, and if in the future we see even more the digital economy, the demands of transactions between machines and automatic transactions will increase drastically and this will generate a total collapse. But the service architecture BUMO seeks to solve these aspects by dividing as follows:

The basic composition of the underlying block chain includes: To build a trust network, it is necessary to have a base, such as P2P networks, consensus and incentive mechanisms, among other things, and it is something that BUMO has and develops from the best way.
In terms of transactions and contracts: Smart contracts serve to support programmable functions and to execute transactions automatically.
Technical extension layer: It seeks to improve the privacy protection of blockchain by reusing the block chain and expanding the scope of the application so that the conventional and typical block chain manages to admit multiple types of assets.
Layer of services: Includes several services as digital assets, and this layer is compatible with users and applications to exchange, or extract revenue, among other things, and also can provide computing power and confidence transfer.
Digital wallet and blockchain browser: This way you can perform a data analysis, identity authentication and other external applications.

Bu-Token

It is a native token incorporated in the BUMO network for transactions, intelligent fulfillment of contracts and other utilities that it can have within the platform. Bu can easily measure the economic activities that are in BUMO. Something important about the Bu token is that a certain amount is consumption as fuel in the Bumo application and the other is that it is able to participate in the governance of the BUMO community. BUMO has two different assets tokenization agreements:

Tokenization based on the account, the block chain BUMO comes with a default and built-in token issuance, so that even if the user does not create an intelligent contract, the token can be issued quickly and efficiently. It also has several operations:

Create a token, name it and give it a fixed value or limited quantity.
Issue the token through this operation.
The token can be transferred through the designated destination account.

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Tokenization based on the contract, is for more complex applications, in addition BUMO defines how the tokens will fulfill a compatibility contract in different applications. The contract has three functions:

Start the contract.
Execute the contract.
Check the contract.

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The distribution plan for Creation Generation BU is as follows:

Source: WhitePaper, Page 26, 27

BUMO Wallet

"BUMO provides you with a practical, portable wallet client"

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With the BUMO wallet you can count on:

Multi-asset management
Offline transaction signature
Multi-signature joint account control
Private key backup

Use-Case

Sophie owns a clinic, called MediCare, this company has been growing a lot in recent years, becoming recognized throughout the city, but it has good care and good workers.

Although not everything can always be pink, because MediCare has recently lost medical records of patients, and that is a very difficult paper to recover because there may be the life history of an elderly person who has had and have many health problems and allergies, so it is necessary to have the medical history of all patients.

Sophie has decided to try to digitize all the data and keep them safe and discovers that in the blockchain technology that is possible, through BUMO she manages to have the medical history of all the patients and so each patient can have their history digitally and with greater security.

Conclusion

This publication that I have presented has been to let you know about this new platform called BUMO and that through the content we have been able to see the most important points about this ecosystem and how, without any doubt, it will achieve great success in the blockchain system.

And how to be a new generation of public chain for companies, will have a great impact on the market. BUMO has everything necessary to revolutionize the system we know today and is that they have come with that purpose, since they have reinvented the market as we know it.