THE USECHAIN PROJECT AS A CASE STUDY

Whenever the world ‘blockchain’ is mentioned, many people think of Bitcoin which in a way is true as Bitcoin brought the blockchain industry to lime light and was indeed profitable for a lot of investors and can be regarded to as Blockchain 1.0, however Bitcoin is just a project under the blockchain industry. To move the blockchain industry forward, blockchain 2.0 and 3.0 was created which are the Ethereum and EOS blockchain and has indeed proven to be of advantage as new features such as smart contracts creation and increase in transaction speed have been added.

There are however some challenges facing the existing blockchain platforms and upgrades as security breaches from hackings has caused several thousands of dollars to be carted away, slow transaction speed which makes trading strenuous, lack of scalability and lack of reasonable technological innovations to allow adequate decentralization.

To realize the full potential of the blockchain industry, it is a must that these challenges are solved in a way that all advantages offered by the existing blockchain are retained and their faults eliminated with improvement of their technological structure and this is where USECHAIN comes in as it proposes to do all this with a mirror identity protocol that is first of its kind.

USECHAIN

This is a blockchain platform designed to anchor the development of the first mirror identity protocol in the world. It will also support the use of innovative technologies such as a new consensus algorithm to move the blockchain industry forward.

By utilizing a mirror identity protocol merged with high-level innovations in structure design and technology, the Usechain platform was created in order to eliminate the factors that causes delays in developed phase of the the blockchain technology and strive to provide a balance between scalability, security, and decentralization. Judging by its usefulness, the Usechain platform appears to be a fast paced ecosystem, that will be the commong ground for both credit-based and identity-based applications in the future.

To move the blockchain industry forward, Usechain took a step further by upgrading some integral part of the blockchain thereby differentiating it from existing ones.

It battled the high scalability issues by providing an Increment in performance and scalability with the help of its advanced decentralization and an innovative consensus mechanism known as Randomized Proof of work.

It guarantees a high level of security with the integration of mirror identity protocol. security is raised maximally as identities of users are confirmed upon using the platform which makes it a trouble for hackers to penetrate.

Energy consumption is reduced tremendously as transactions occur faster thereby reducing the exhaustion of computing resources while reducing hashing power.

Upon the implementation of high performance, increased security and low energy consumption, the general public will be interested as they are more certain that their funds won’t be managed poorly.

Token feature

The token of this platform is UST which is a utility token built on the foundation of the ERC-20 and was created as a means of payment on the platform and also to reward technological innovation.

ICO information

The UST Token is used for listing and 20 billion UST are generated by this platform and will be distributed in percentages to all the sectors of the ecosystem. It is distributed in the following way:

45% of UST will be sold as a means of paying for cost of creating the platform. 20% i.e. of the UST will be incentivized as rewards for the community.15% UST will be used to reward core team for active support rendered. 15% UST to reward the technical community for their contribution in advancing the platform technologically. 5% UST as cost of marketing and rewarding of partners supporting the platform.

Team information

This platform consists of 10 managers and 6 consultants with massive experience in finance, marketing, information technology, stock investment and other related projects. The team members are:

Henry CAO

He is the founder of this platform and a finance Professor at Cheung Kong Graduate School of Business where he is the Head of Department, founder of the first Finance MBA program in China, a Member of the Finance Society of America, with experience in teaching from the university of California at Berkeley and university of North Carolina.

Baohong SUN

She is the Co-founder of the platform and a marketing professor at Cheung Kong Graduate School of Business, Former Chaired professor at Tepper Business School and obtained BS, USC PhD from Renmin University of China.

Shengli ZHANG

He is the chief scientist of this platform, seniorblockchain specialist, wireless network technologist, a professor of Shenzhen University, and visiting professor at Stanford University, has 3 national invention patents of blockchain, and obtained USTC BS&MS, CUHK PhD.

Conclusively, the Usechain platform will help the blockchain industry widen its reach and involvement in the society through the its integration of advanced features that will convey security, decentralization, and scalability while also creating an avenue for users of the platform to earn profit from it.

Relevant Links

Website: http://www.usechain.net/

Whitepaper: http://www.usechain.net/usechain_en.pdf

Bitcointalk thread: https://bitcointalk.org/index.php?topic=3432061.0

Telegram:https://t.me/usechaingroup

Twitter: https://twitter.com/usechain

Authors information
https://bitcointalk.org/index.php?action=profile;u=1982554