The strong promises and inclining development of the blockchain technology together with the interest from different industries serve as a source that fuelled the existing enterprises so as to allow the permission blockchain network to roll out positive result in term of production. With different analysis, this blockchain network is visioned to influence every human enterprise, directly or indirectly. Blockchain, as it is designed, can either be public or private. More focus will be on public blockchain because this write-up comes into existence because of a platform called Bumo(a public blockchain).

Source
Before that, did you know that public blockchain as the name implies is public, and anyone that is willing to join it can do so with ease due to its decentralization? Meaning, anyone, can access a public blockchain to input transactions and data anywhere in as much as there is an easy network connection. With this, values can be moved across the globe without third-party interfering. Bitcoin is known to be one of the largest public blockchain networks in production today and the substantial amount of computational power requires to maintain distributed ledger serves as a drawback affecting public blockchain. The openness of public blockchain serves as another drawback. This means, there is little to no privacy for transactions which only supports a weak notion of security.

The blockchain has made many impacts on our financial services in that the liquefaction of digital asset can be achieved when there is digital asset monetization. Many permission blockchains today are facing challenges which serve as a threat to their expected yield. You might want to ask the kind of challenges they are facing, but relax, my analysis will cover that. The issue of energy consumption is a challenge and can cause a problem in performance status. Energy threshold is also part of them. This is where Bumo comes in. Bumo is a decentralized application ecosystem like ethereum that allow the execution of a smart contract.it is just a solitary network that is built to improve the exixting ones.

Bumo, a future value propagation network is here to provide you efficient, open and scalable support in order to reach the need of asset digitization and easy flow of value. The platforms like IoT and others enjoy from this benefits. Users/peoples become lucky beneficiaries of the blockchain asset digitalization with the aid of data and intelligent equipment through a digital transaction and intelligent protocol.

Source
Bumo network will make the devices to meet up with self-maintenance in order to reduce the cost of maintaining the device. This can be achieved by generating a private key to make sure that the data owned by the users will not be vulnerable to theft. This network is working amazingly and has made provision for online editing and debugging tools so as to make work easy for the developer and as well make efficient contract debug.

Bumo designed their blockchain and make BuContract come into existence in order to reduce the threshold affecting the smart contract development. This is done to allow the blockchain technology to be accessed by the ordinary developer and support the language from the JavaScript. Bumo virtual Machine is made possible to support other development languages like python and the rest. Their value transfer is done at a reasonably low price.

Reference Materials

Bumo website
Bumo whitepaper

This contest was brought to you by the @originalworks contest. Feel free to check here for more information

My twitter entry

bumo2018