Introduction
The following review, is a detailed summary and analysis about the Usechain project. This will be helpful for everyone who wants to learn more and get an objective view about the Usechain Project
Bitcoin accepted by many has gained legitimacy among millions together with Ethereum, It is centralized and seems to offer a one dimension approach to cryptocurrency market but not providing a comprehensive solution to the prevailing problems that blockchains and cryptocurrencies face (especially relating to usability, applicability, and adoption). Together, Bitcoin and Ethereum have proven that blockchain technology, decentralized systems, and global collaborative communities can work. But, at the same time, vast improvements and innovations are needed to meet the true promise of blockchain technology.
Additionally, Usechain intends to provide a solution to the shortcomings of the first generation blockchains, such as Bitcoin and Ethereum.
About Usechain
Usechain is a platform that aims at developing the first ever mirror identity blockchain ecosystem that improves the use and utilization of blockchain technology. The platform aims at improving performance by providing a transaction management and support process that is efficient, identity based, and with low technical barriers applicable in the mass market.
The platform focuses on introducing a new consensus mechanism and a randomized proof of work to balance perfectly strong security and high performance. In order to bring a new generation of blockchain, Usechain will use multi-level encryption and authentication methods, Identity virtual machine, zero proof, enhanced smart contract as well as other innovative technologies.
The Platform
Usechain is built on mirror identity protocol merged with high-level innovations in structure design and technology to eliminate the delays in the process of developing blockchain and bring a perfect balance between scale, security, and decentralization. Usechain, as an ecosystem is growing fast and will hold thousands of credit-based and identity-based applications in the future.
Usechain will develop a unique and innovative consensus algorithm call Randomize Proof of Work (RPOW). It integrates identity information with Verifiable Random Function to generate a verifiable random number that will be difficult for hackers to attack. The random number can be converted into a predetermined weighting system so that the hashing difficulty will be assigned according to the random numbers. This effectively lower power consumption and increase transaction speed as only a handful of nodes will do the mining.
Also, identity allows Usechain to establish a sharing connection using network sharding and transaction sharding. The network sharding is based on the commonalities in identity information while transaction sharding is based on the frequency of transaction between associated parties. This effectively improve the scalability and performance of the network system.
Many people have compared Usechain with GXS and Ontology, but the comparison is superficial. GXS is focused on the transmission of identity information and not the empowerment of identity accounts while Usechain’ s main purpose is to conduct real transactions in a peer-to-peer network .
Solutions
Usechain comes as a solution to solve all the obstacles in the process of developing blockchain technology. Currently, Usechain is creating blockchain identities built on the new technical structure. The platform provides the infrastructure supported by MIP, as the underlying technical support exploration for the development of Dapps in various fields. Starting from the field of entertainment, consumption, social networking, finance, supply chain management, games, IoT, and much more.
Thanks to its multi-level innovation in structural design and technology, Usechain is superior to today’s mainstream public blockade such as EOS, ETH, and BTC. Usechain can overcome the Impossible Trinity of a new dimension of identity. At the same time, it offers a perfect balance between scale, decentralization, and security. The advantages provided by Usechain, making it as an ecosystem that can proliferate over time. He will hold thousands of applications based on identity and credit in the future.
The core idea of the Usechain platform is to add value to identify and create new commercial models of blockchain technology based on MIP and multi-level innovation integration. Usechain has the same level of security for anonymous public blockchain privacy and identity blockchain.
Usechain offers infrastructure to support the development of Daaps in various services and industries. The platform makes it possible to transform assets, organizations, and people into identity tokens. The Usechain ecosystem offers a decentralized and high-performance exchange, enabling value in any form to operate and flow efficiently. Also, it will also separate identity and identity verification based on zero proof knowledge.
All behavioral data generated by people and events in the Usechain ecosystem will be displayed transparently, irreversibly by anyone. The platform is built with secure and sophisticated infrastructure. The infrastructure focuses on single identity mapping, thereby increasing the number of applications requiring identity. Also, Usechain is also supported by commercial and academic resources from top business schools.
To help the global community grow its business, Usechain continues to incorporate top-quality resources into its ecosystem. This is a platform that provides future technology infrastructure for the parallel and virtual world. Another advantage of Usechain compared to current blockchain is low energy consumption and computational resources. Everyone around the world can join the Usechain ecosystem.
Usechain will promote any commercial project development in its ecosystem along with application platforms in leading industry and trade. Gradually, this creates a useful blockchain economic system to improve industrial efficiency.
About Token & ICO
Usechain team have received congratulations from community members, early investors and partners
During the pre-sale, 500 Million UST( sold out), which was equivalent to 5000ETH, was allocated to total 128 supporters. The minimum contribution was 30ETH.
Usechain team officially announce to launch a public sale on August 8th, 2018.
The total allocation of public sale was 2000ETH.
Unique Team
The Usechain team have ambitious goals which will enable them to set new standards for the crytocurrency market. To achieve this goal a strong Team is built with all the necessary skills, talents and long-time experience needed for the project . Leading the team of founders is Henry Cao, a professor at Cheung king Graduate School of Business and also co-founder Baohong Sun, a marketing Professor at Cheung king Graduate School of Business, founded Usechain
Other participants that belong to design the realization of this ingenious network are Shengli Zhang, Feng Zhang, Erik Xu, Andy Zhou, Lin Zhao, Amanda Shen, Gengnan Song and Liang Zhang. These individuals have contributed in their own way using the wealth of knowledge that they have gathered to support the establishment and growth of this technology.
Conclusion
Usechain will provide something very unique, and very useful to the Blockchain ecosystem, I believe users will not have to worry about their identities being lost or stolen within the platform. For me, am highly interested in the project and certainly will invest . Usechain is in town and here to take us on a journey of advance innovation enhancement in the Blockchain.
Follow links for more Information
Website: https://www.usechain.net/
White Paper: http://www.usechain.net/usechain_en.pdf
Technical White Paper: http://www.usechain.net/usechain_tech_cn.pdf
Facebook：https://www.facebook.com/UsechainFoundation/
Twitter：https://twitter.com/usechain
Github: https://github.com/usechain
Reddit：https://www.reddit.com/user/Usechain
Linkdin: https://www.linkedin.com/company/usechain/
Medium: https://medium.com/usechain
Telegram English: https://t.me/usechaingroup
Telegram channel: https://t.me/usechain
Author
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