4. MILO
MILO introduced an objective, transparent and secure blockchain into the platform to improve the problems of existing reward point delivery platforms.
MILO is managed in an integrated manner and provides the ability to exchange with reward points on the desired platform.
In addition, users of the MILO platform can use various services in the platform through MILO, a key token. MILO will provide a better environment, policies and various rewards compared to the existing platform.
MILO will partner and collaborate with related companies and platforms in the future to provide various services and expand its business areas.
| Partnership
For the expansion of the MILO ecosystem, MILO is the first partner to work with MUKKEBI, a local-based delivery app service.
MILO's partner, MUKKEBI, offers an innovative fee of up to one-tenth of the high commission of the existing delivery platform, and is a regional win-win delivery platform officially designated by many local governments in Korea.
In addition, it provides various benefits such as providing low brokerage fees to small business owners and providing discount coupons by supporting the payment of local currency to consumers.
In addition, as of December 2022, 12 local governments have been selected as operators of public-private cooperative delivery apps in the most regions in Korea, and is currently expanding in the region, showing a new direction for win-win platforms.
Therefore, the cooperation between MILO and MUKKEBI will continue to expand its service with a high growth rate in Korea with traditional markets, local food and tourism platforms, and will also enter overseas delivery app markets such as Indonesia and Vietnam.
| Technology
The MILO used within the MILO ecosystem is based on the polygon protocol optimized for the expansion of existing Ethereum networks and infrastructure development. It is possible to convert the Ethereum network, which uses the most protocols, into an effective multi-chain system. The polygon network is a platform and framework built to improve Ethereum blockchain limitations such as slow transaction processing speed and limited scalability. Although the Smart Contract platform and cryptocurrency are attracting steady public attention, there is still a limit to being publicly accepted due to scalability and user experience issues. And while certain applications succeeded in temporarily achieving a significant user base, it resulted in paralysis of the entire network during high network load.
As a result, the most advanced and widely used platforms in nature have also not been made available to the public, but MILO boasts improved transaction throughput.
In addition, unlike Smart Contract platforms that sacrifice decentralization to improve transaction speed, it has been developed as a protocol optimized for scalability and usability issues while actively utilizing the existing blockchain ecosystem without sacrificing decentralization.
Therefore, by building a separate side chain linked to Ethereum, transaction processing, verification and records are carried out on the side chain, and only the final results are recorded on the Ethereum blockchain to improve scalability.
MILO builds high-quality libraries and enables cross-chain transfer and liquidity pool support with the aim of improving the user experience and providing off/side-chain scaling solutions for the block chain.
Side Chain
Side-chain is a technology that makes it easy to trade assets that exist on different blockchains.
If all the data is put into the node in the main chain, making the node heavier and heavier, or if there is a growing number of nodes in the public chain, it causes many problems in the main chain.
In other words, TPS is getting slower and the value of fees goes up. Due to these problems, there have been many problems with the commercialization of cryptocurrency, and side-chain has emerged as a solution.
The sidechain moves the assets in the main chain to the side-chain to process the transaction, and distributes the transaction processing process by leaving only important information on the main chain after the transaction is completed.
Side-chain is a technology that connects different blockchains and encompasses second-layer and off-chain solutions.
If blockchains such as Bitcoin and Ethereum are connected with the same side chain technology, they are described as side chain relationships.
Side-chain is a key technology used for issuing and trading new assets on the blockchain, and assets that exist in different blockchains can be safely traded with each other
Existing blockchain protocols aim to efficiently use the main chain by storing all data in the side-chain, rather than in blocks, to solve the completeness, TPS, fees, and performance limitations of the main network, especially among scalability problems.
On the other hand, the side-chain uses consensus algorithms from PoA, PoS, DPoS, and BFT. Side -chain is a technology that acts as a bridge between different cryptocurrencies, and side-chain technology can be used to upgrade transaction performance.
In blockchain, side-chain technology focuses on exchanging different blockchain tokens.
There are many approaches to connecting different blockchains, such as Ethereum, but the method of building bridge in the middle is mainly used.
The most obvious way is to modify Bitcoin or Ethereum itself, or to modify the entire code to suit the other blockchain, but it is practically impossible, so the side-chain method is in the spotlight.
To address the challenges of existing reward-point platforms, MILO seeks to leverage polygon protocols to build distributed platforms and address the challenges facing the blockchain ecosystem and reward-point markets
Way to MILO
MILO aims to support partner companies' NFT projects within the MILO platform, providing a variety of service experiences. NFT stands for Non-Fungible Token, which means a digital asset that is irreplaceable, and each token has its uniqueness.
MILO plans to expand its ecosystem by supporting IP-based NFT projects, separate from the MILO WALLET. The NFTs supported by MILO can be traded on OpenSea, and users can acquire partner NFTs through events held on the MILO platform. This will allow MILO ecosystem users to gain familiar images and create natural points of contact and channels for communication.
| MILO Web 3.0
MILO aims to be reborn as a platform that provides various use environments by fusing and connecting the Web 2.0 platform (Mukkebi, etc.) and Web 3.0 to provide diverse ecosystems.
Existing Web 2.0 platforms monopolize profits generated from content by owning meaningful data such as reviews, ratings and payment data generated by users, but there has been an unbalanced structure in which users who create content cannot be rewarded because they have no apparent ownership.
To solve this problem, MILO uses blockchain technology-based Web 3.0 to take ownership of the contents created by users, and to continue active ecosystem activities by transferring the rights and value of the content to the operator.
In addition, operators can duly purchase rights to content such as reviews from users and can be positively affected by their own feedback, efficient business strategies, ratings, and reputation management. This can provide an opportunity for both users and businesses to continue to grow together and create a virtuous cycle to promote a mutually developing ecosystem.
This can provide an opportunity for both users and businesses to continue to grow together and create a virtuous cycle to promote a mutually developing ecosystem.
And ultimately, MILO can provide more valuable and active platform services than existing platforms by increasing the amount and quality of information it provides to consumers.
Architecture
| Platform Structure
MILO conducts a flexible processing process between layers of technology to provide the necessary information and results to users participating in the ecosystem based on enhanced stability, technology and security than existing services. And through this, MILO aims to expand its platform ecosystem. MILO consists of the following layers to maintain the transparency and security stability of blockchain, and the performance and scalability of existing services.
Wallet
It provides Private Key to access your own accounts in the MILO ecosystem, and the Wallet module allows you to securely manage essential Key information to participate in economic activities within the platform ecosystem. Based on this, it prevents Key information leakage and securely available security by providing stability associated with Contract in the MILO ecosystem and ensuring closed behavior.
Data
It provides reliable storage space and encryption that can be searched objectively, which are big characteristics of blockchain platform.
Each data is generated as a block and managed by a decentralized decentralized ledger, which provides an objective, safe and fair blockchain platform ecosystem that cannot be arbitrarily manipulated.
NFT
MILO's NFT consists of an irreplaceable ERC-721 token that copyrights data services and offers the ability to leverage data services such as distributing and issuing tokens from data NFTs, taking advantage of Smart Contracts and libraries.
Infrastructure
It is a layer built by MILO to link to physical businesses and various projects, providing security and authentication capabilities. MILO can use that layer to link games, shopping malls, payments and blockchain projects in other ecosystems, which extends beyond the MILO ecosystem to a variety of platforms.
KYC
Due to the platform nature of MILO, which is closely related to the real economy, it provides a secure and reliable platform through identity authentication. The personal information provided on the platform is securely stored and managed through the blockchain, enabling cheaper and more enhanced identity information management than the identity authentication methods and management and operation costs of existing financial institutions. This will increase transparency in in-platform transactions and increase visibility of transaction monitoring.
API Management
MILO provides participants with intuitive and secure access to ecosystem services as an entry point when they participate in the ecosystem, and can exchange a variety of information easily and conveniently. This layer makes it easy to access the blockchain and access various services provided by the service layer. MILO aims to provide a more advanced platform ecosystem through steady management and research and development.
Developer portal
It is a real process area that determines how data is generated, stored and changed in the platform, and it was built logic outside the UI for various transaction information and unit testing in the ecosystem. It optimizes the various processing areas in the platform to provide a smoother and more pleasant usage environment.
API Gateway
API Gateway is a layer that provides a variety of features for API authentication associated with the platform, API request routing with the right Backend, applying Rate Limit to prevent system overload, and handling errors and exceptions, and optimizes interworking with real-time API.
This is a layer that quickly handles API traffic linked to MILO's platform and serves as the most important component for real-time architecture.
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