USECHAIN OVERVIEW

Cryptocurrency emerged and it submerged the old style of doing many commercial activities. However, the blockchain technology has succeeded in changing so many things like our old system of banking, doing transactions and many other activities that is becoming obsolete now in the existing traditional systems.

But now, we would discover that as the blockchain technology grows, there is a need for trading cryptocurrency, an activity of which its utmost importance cannot but be overemphasized, on the blockchain. For instance, crypto users always require a need to trade one crypto for another or the fiat currency, in order to make transactions easier for them.

Hence, it should be known that if this is not made possible, crypto users as well as investors will be limited in their use of these amazing blockchain technology. So it is very imperative to devise a platform that will achieve that purpose. Thankfully, Usechain is the solution at our doorstep.

INTRODUCING USECHAIN

Usechain primary purpose is add value to identity and to ameliorate the existing blockchain infrastructures by enacting a new commercial model of blockchain based on MIP. Decentralized Dapps will be supported by Usechain in future. The decentralized exchange in usechain ecosystem with superb performance will aid a great deal in making different forms of values to flow and operate seamlessly. It is pertinent to note that, Usechain is the very first identity mirror blockchain ecosystem and will build the platform progressively with time in order to embed advanced or more improved resources so as to easily gain adoption by top businesses, schools etc. Usechain will work closely with top project application platforms in diversified industries in a bid to improve the standard and adoption mainstream.

EXISTING PROBLEMS WITH VARIOUS BLOCKCHAIN INFRASTRUCTURES PRIOR TO THE ESTABLISHMENT OF USECHAIN
• Blockchain 1.0 infrastructure (Bitcoin) started smoothly but with increased market capitalization and huge traffic, the network was posed by slow transactions, higher fees , high power consumption etc proving poor scalability and efficiency. I remember sending BTC some months back to a friend and it took almost 24 hours to deliver, going against the initial perception of cryptocurrency features with regards speed of transaction. Nowadays, bitcoin is used as a store of value drifting from its initial purpose of creation.
• Blockchain 2.0 (Ethereum ETH) was a major improvement but some bottlenecks sprouted along the line. ETH aided a great deal in Dapp and token creation, crowd funding , and the smart contract application is vast. But ETH has not provided a value exchange platform which will boost adoption in real life. The issue of real commercial value sets in with regards use cases. Low performance, anonymous environment and high technical difficulties has been a major drawback for the existing blockchain infrastructures to be adopted mainstream.

SOLUTION PROVIDED BY USECHAIN TO IMPROVE BLOCKCHAIN ADOPTION MAINSTREAM
• By providing an efficient process in managing transactions in order to support huge traffic from users and Dapps.
• Promoting adoption with regards daily consumption , loans or insurance by establishing a link between on-chain addresses and off-chain identity in a bid to meet KYC and AML standards.
• Improved security, enhanced performance and reduced consumption of energy.
• Reducing adoption barriers by providing a user-friendly interface, implementing low cost and reduced risk for advanced technologies. This will in turn improve adoption and flexibility.

All these will be achieved by implementing technical key innovations as follows :
• Multi-level authentication mechanism
• RPOW consensus mechanism
• Network sharding technology
• Identity Virtual Machine (IVM)
• Light note client
• Online fault tolerance

UST TOKEN
The official token that will be used in Usechain ecosystem is the UST. At the moment it's ERC-20 based token but in future, it will be swapped to the native UST coin after the main net launch. The UST will be used in rewarding community developers and supporters, boost ecosystem growth and utilization of decentralized apps by participants. UST will be used as gas for transaction fees in the ecosystem for the public chain. It will be integrated for use in finance sector and consumption in future, used in making payments.

To Learn More About Usechain Please Visit The Following Channels

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

Author Information

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