The Usechain platform has recognized the existing limitations of the blockchain technology and thus moves to introduce the mirror identity system which would help improve the overall setup of the blockchain system.
The Mirror Identity Protocol leverages on the currently existing models of blockchain systems and combines it with its viable algorithm to produce a low-risk platform with nodes controlled by individuals. This algorithm known as the RPOW or the Randomized Proof of Work is a form of consensus algorithm that relies on mapping of identities to proffer an alternative pathway for the blockchain to follow through.
Versatility of the Usechain Ecosystem
One good thing about the Usechain ecosystem is that it is not industry-limited. The team members behind the project have polled their connections with various industrial resource persons to harness their respective assets so as to forge a formidable collaboration. This ultimately leads to a large community of users socializing atop an advanced technological platform.
Ecosystem Participants
Within the Usechain ecosystem, there exists three key players viz: The Users, the Application participants, and the Technological participants.
• The User Participants: This refers to a category of individuals who are offered the opportunity to utilize the systems ability to carry out various verification of identity as well as carry out address mapping actions. User behavioural data can also be cumulatively garnered over time thus attaching value to respective user identities.
• The Application Participants: This is a niche specially for service providers, individuals and organizations. Proxy identity verification can be carried out by members of the category because this also contributes to the growth of the ecosystem. An added advantage for the service providers would be a leverage to create their own unique application-based businesses on the platform. The structure of the ecosystem is such that encourages business expansion.
• Technological Participants: These set of individuals are usually regarded as the most important group of participants in the ecosystem. This is due to the fact that the entire development responsibility lies upon the shoulders of these participants.
They include the team as well as technological partners who take charge of the design and development of the architectural overview of the platform. Protocol development and operation, general optimization of the chain operations and maintenance of the network and application layers of the ecosystem are some of the tasks assigned to this set of participants.
Original Content Creation and Commercialization
On the ecosystem, content creators who previously battled with challenges of copyright reservation and registration would bid farewell to all such bottlenecks. On the platform, these creators can effectively register the copyrights of all their respective assets and contents. They can then move to engage in a wide broadcast of the content within the ecosystems network. Creators can also monitor all content placed on the platform.
Scholarship Options
Just like the earlier promise to make the implementation of the technology more realistic, Usechain takes a step further to solve real life problems using the efficacy of the blockchain technology.
It is common knowledge that due to economic and financial misfortunes, some students are unable to afford the tuition fees for their respective institutions of learning. With the strength of the Usechain community, users can acquire free loans that would help ease the financial burdens on the students. Thus, students can finish their studies and actualize their dreams.
Team And Advisors
Brilliant minds have sat down to craft an innovative solution to all of Blockchains challenges and barrier to entry inhibitions. These men who are also responsible for the maintenance, and technological design and development of the very complex and effective algorithms that run the ecosystem.
Conclusion
Identifying a problem is one thing, proffering a sustainable and effective solution is another step. The team recognized the very obvious challenges and the not-so-obvious bottlenecks impeding the blockchain industry. The development of the Mirror Identity System is proof enough that considerable research studies and dedicated hard work has been exhaustively injected into forging the way out (and up) for the blockchain industry.
To learn more about this revolutionary Blockchain, check out the links below:
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