The mirror identity in brief.
Mirror Identity is simply the Blockchain Identity used to address Mapping tools. The Usechain ecosystem will make sure that your identity situation is in safe hands because it will be stored and can only be unveiled to other user based on anonymity data. It also tracks transaction records and transparency and addresses it as anonymous.
The usechain ecosystem is inarguably the first mirror identity-based blockchain ecosystem with the purpose of gearing and countering the existing flaws of Ethereum and Bitcoin while still retaining its technological magic. The existing blockchain will be used to functioning on the outer part of the platform. However, three main challenges the blockchain platform is currently facing of which the experts might have observed this includes; it is prone to digital crime anonymously, the restrictions in technical thresholds, and the limited execution efficiency. These are what USECHAIN came to solve for BLOCKCHAIN.
How will USECHAIN platform solve these BLOCKCHAIN problems? Stay tuned!
• Dealing with digital crime anonymously; The main application of the blockchain technology mainly rotates within the anonymity of users. It may be a great move to achieving transaction privacy, but it will mean that the transactions lack connection to real identities; this may be a big future issue as regard to tracking of drug-trafficking, smuggling and illegal fund-raising activities, and money-laundering.
Our day-to-day applications due requires the support of Anti-Money-Laundering (AML) and Know-Your-Customer. But the anonymity of cryptocurrency transactions is to not possible for its application within wide range application. But the platform Usechain is more than enough of stepping it up to the next level via the Authentication Mechanism of the Multi-level system. Having noted what the importance of privacy means to the user the Authentic mechanism of a multi-level system can help tracks the mapping relationship within the chain without compromising the information therein.
The usechain ecosystem will focus mainly on how to create the world first mirror identity blockchain platform by consolidating on the already existing technologies within the blockchain. It will be on record that the Usechain platform created the public blockchain to be built on Mirror Identity Protocol with the integrating it with the multi-level innovations of technology and structural design, which can be used to solving tough situations in the process of blockchain development, and also by providing great infrastructure of technology for the development of parallel and virtual world in the nearest future and build an identity based blockchain system founded on a newly technical structure.
• Dealing with the restrictions in technical thresholds;
With the tough nature of the blockchain, current applications have open threats and issues. Some of the issues are the inability in allowing various applications to build various applications across various platforms. This will be a great problem regarding the adaptability and flexibility of the technology. Also, with the Usechain Identity Virtual Machine, smart contracts of high performing ones can be well outlined with the amount of adaptation. Its intermediate communication can allow the Identity Virtual Machine to interact with any of the underlying blockchains with an external APIs as well as the sub-chains to building an execution efficiency based one.
Usechain has observed the lack of identification in the blockchain problems, and it's using a smart system of a solution to clamp down the fundamental flaws. Usechain offers the array of applications of the ecosystem such as; the personal identity token, decentralized service of finance, digital currency payments decentralized, unattended equity and investment management, decentralized insurance and exchanges as well as many other applications founded on credible service provision.
• Dealing with the limited execution efficiency; The ecosystem of the Usechain is now solely depended on mirror identity Protocol combined with development through technology.
Usechain helps the efficiency of the identity payment delay time using the blockchain technology by improving the area of security, scalability, and decentralization.
Identity public blockchain mirror will provide below:
Secure IoT solutions
Sharing economy
Payment systems and decentralized financial platform
Lending role
Insurance role
Conclusion
Usechain will develop an effective dApps for financial and other sort using the majorly public identity chain. That is, it will be a mirror based on the chain, and it has a parallel world people will able to carry out non-financial and financial transactions just like the physical world. The logic here was to make financial services more accessible to the everyone and removing the bridge our financial world globally.
For more details and information about Usechain, please visit the following links;
Website: https://www.usechain.net
Whitepaper: https://www.usechain.net/usechain_en.pdf
Blog: https://medium.com/@usechain/
Twitter: https://twitter.com/usechain
Facebook: https://www.facebook.com/UsechainFoundation/
Telegram: https://t.me/usechaingroup
Published by; Dogecoin92
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