USECHAIN - DEVELOPING A REAL NAME CREDIT ECOSYSYTEM

Since the beginning of the first blockchain in 2009 by Satoshi Nakamoto who created Bitcoin, the blockchain industry has evolved in different ways unimagined before. It has seen an ardent growth and acceptance by some parts of the world. Innovations of other blockchain networks and cryptocurrency such as Ripple, Eos, Etherum that enables the use of smart contracts and decentralized currencies, in the world of blockchain technology. By allowing digital information to be distributed, the blockchain technology created the backbone of a new type of internet.
However, the present blockchain technology faces rejection by most parts of the world. It is yet to be totally accepted globally due to the fact that it faces some problems such as limited scalability, performance inefficiency, high technicality, privacy and security and high energy consumption which has limited its use only to be applied in cryptocurrency trading and exchange.
Although, some of the giants in the blockchain industry have contributed greatly to enhance the blockchain technology, it is still yet to be adopted like the internet because of lack of lack of commercial support and weak connection to the market. The full potential of blockchain network and technology remains untapped. These problems need to be dealt with and this is where Usechain comes in place.

USECHAIN EXPLAINED
Usechain aims to develop the First Mirror Identity Blockchain technology ever to exist that revamps the use of blockchain technology. Usechain will address the issues facing the current blockchain networks by providing transaction management and support processes that is efficient, less expensive, and highly flexible. Usechain will be designed to handle large scale transactions to meet demands from millions of users at the same time and manage the huge range of commercial and social applications on the platform.

USECHAIN SOLUTIONS TO BLOCKCHAIN ADOPTION CHALLENGES

1. Low Scalability: Blockchains are having troubles effectively supporting a number of users on the networks. Both Bitcoin and etherum, the leading blockchain networks, have experienced slowed transaction speed and higher fees charged per transaction as a result of a substantial increase in users. Usechain will be designed to handle large scale transactions to meet demands from millions of people. This will be done by introducing a design higher than blockchain 1.0 and 2.0 with better security properties. Usechain will allow for support for decentralized applications.
2. Identity Based: The blockchain is known with its anonymity and this feature has been known to be misused by people with fraudulent intentions such as people engaged in money laundering. There is therefore a need to connect the on-chain addresses and off-chain identity to meet the KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements, so as to put a face to the users of the blockchain network.
3. Efficient Technicality: Blockchain network is designed to include a significant amount of data with each transaction. While some of this information is important, not all of it is essential. This makes the blockchain technology heavy and rather slow. Blockchain design must be streamlined and optimized to minimize these inefficiencies to result in widespread adoption.

USECHAIN ECOSYSTEM ARCHITECTURE

1. Usechain ecosystem can be used by individuals, companies, assets and objects to complete mapping of addresses and identity verification by making use of verification mechanism and service applications.
2. Individuals and organization can perform identity verification for others based on their identity certification. Service providers can also use the ecosystem to develop their own business related applications.
3. Technology Participants are the most essential in Usechain ecosystem, the developing team is fully responsible for development and coordination work with partners in technology and continually optimize the ability to operate in underlying public chain.
   
   WHERE CAN USECHAIN TECHNOLOGY BE APPLIED

Usechain will develop a channel to connect the real and virtual world so as to establish a higher efficient, secure and decentralized tool for value transmission. This can be applied in many scenarios listed below.
a. Cryptocurrency Payment
b. Decentralized Financial Services
c. Credible Sharing Economy
d. More efficient and Secure IOT application
e. Unattended Investment and Equity Management
f. Decentralized Insurance
g. Decentralized Exchanges
h. Tuition Fund
i. Digital Content Production and Trading
j. Blockchain Games
k. Market Forecast

TOKEN AND TOKEN DISTRIBUTION

The official Usechain token will be called UST, it will be issued to reward the community, developers and supporters that support the ecosystem. UST is an ERC20- based token.
The total quantity of UST is 20,000,000,000 UST. It will be distributed as shown below.

The Team and Advisors

The Usechain team consists of some of its members from the Usechain Foundation which is a non-profit organization founded in Singapore.

For more information or if you would like to contact the team, below are some useful links.
Website: http://www.usechain.net/
Whitepaper: http://www.usechain.net/usechain_en.pdf
Facebook: https://www.facebook.com/UsechainFoundation
Twitter: https://twitter.com/usechain
Telegram: https://t.me/usechaingroup

Authors Information
Steemit Username: e4ourma
Bitcointalk Username: Johnyjay
Bitcointalk Profile; https://bitcointalk.org/index.php?action=profile;u=1819701