Usechain: The First Mirror Identity Blockchain Review

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Present Blockchains like Bitcoin and Ethereum have many challenges inhibiting their acceptance into our daily lives and industrial applications, though they also brought innovations like decentralized currency and smart contract applications. These innovations from present Blockchains has allowed the society to be autonomous and secured. However, performance, inefficiency, poor scalability and high technicalities have limited present Blockchain technology to only be applied into cryptocurrency trading and exchange as speculative assets. Though many Blockchain startsup are working towards optimizing the technology, however it has not yet to be accepted by all and sundry like the internet because of lack of commercial support and its low performance compare to traditional technologies. The market value of blockchain technology has yet to be fully utilized.

Usechain aims to solve these problems facing present Blockchains by developing the first mirror identity Blockchain ecosystem that will be able to solve the problem of performance, scalability and enable wider applications of Bockchain technology into our everyday's live.

What is 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.

Usechain becomes the first public blockchain to be built on Mirror Identity Protocol and integrated with multi-level innovations in technology and structure design, which can be used to break the bottlenecks in the development process of blockchain, provide infrastructure of technology for the virtual and parallel world in the future, build an identity blockchain system built on a new technical structure, develop more widely used DApps and provide underlying technical support for the application explorations in finance, consumption, entertainment, socialnetworking, games, IoT, supply chain management, asset management, and social management and add more value to identity by allowing people to be connected to the financial service provided by Wallstreet in an easy, convenient and instant way.

Three Major Usechain Solutions That Will Accellerate Mass Adoption Of Blockchain Technology

1. Performance and Scalability-

Provide efficient transactions management and support for millions of Dapps and billions of users.

2. Identity-based-

By establishing a connection between on-chain addresses and on-chain identity to meet the requirements of KYC and AML making it possible to be massively adopted in daily consumption, loas, insurance e.t.c.

3. Low Technical Barrier-

With the continuing optimization and enhancement of smart contract, more sophisticated and flexibility defination of application protocol and promotion in accessibility can provide a user-friendly interface for existing Internet technologies and low-cost and low-risk docking mode mature technologies.

Features Of Usechain Ecosystem

The ecosystem of Usechain Blockhain includes application service, application protocol, application components and core framework of underlying Blockchain.

Below are some of the features of the innovative ecosystem:

1. Multilevel authetication mechanism-

Using cryptography solution, Usechain establishes a multilevel correspondence mechanism between the on-chain address and the identity of authenticated users.

2. RPOW consensus mechanism-

Based on current algorithms and secure, high performance and anti-attack Trusted Execution Environments (TEEs) built by hardware, the Ramdomized Proof Of Work consensus algorithm can anchieve high frequency transaction verification on the premise of a lower energy consumption and fair environment for mining.

3. Network sharding technology-

With the KazaA p2p protocol introduced, Identity Network Sharding(INS) and Identity Transaction Sharding (ITS) designed, network sharding can be realized based on the account address of the uses. The transaction of a specific address can be confirmed within the sharding which the address belongs to, which erases the need for confirmation by all nodes in the network.

4. Identity Virtual Machine(IVM)-

The Identity Virtual Machine(IVM) is a nnew standard for building high-performance smart contracts that can be defined and sandboxed with some adaptations.Usechain will build an intermediate communication layer so that IVM can interract with underlying blockchain, external APIs and sub-chain or even be directly programmed based on the intermediate communication layer to make up for the shortage of Ethereum virtual machine and build smart contracts which are efficient in execution, and can interact with external data to help extend the application scenario

5. Light Node Client-

The adoption of higher-level Merkle Tree BCMT is used to achieve transaction and status verification reduce the amount of data light-node clients need to synchronize and verify the accuracy of transaction or data.

Usechain Blockchain Usecase Scenario

Cryptocurrency payment
Decentralized financial services
Credible sharing economy
Efficient and secure IOT applications
Unattended investment and equity management
Decentralized insurance
Decentralized exchanges
Tuition fund

ICO Details and Usechain Specification

Ticker: UST
Token type: ERC20
Fundraising Goal: 34,600,000 USD (4,500 BTC)
Total Tokens: 20,000,000,000
Available for Token Sale: 45%
Accepts: ETH, BTC
Digital content production and trading
Blockchain games
Market forecast

The team behind this project conprise of academics and Blockchain experts, below is their biography

Useful Links

Project Website

Whitepaper

ANN Threads

Telegram Open Chat

Blog

Written and Reviewed by Adeyinka Joshua

Bitcointalk Username: Adebits
Bitcointalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=1249179