USECHAIN: THE WORLD'S FIRST MIRROR IDENTITY BLOCKCHAIN ECOSYSTEM

lollyk (35)in #blockchain • 6 years ago (edited)

INTRODUCTION

With the launch of the first identity block chain ecosystem, USECHAIN positions itself as the first public chain in the world to be built on mirror identity protocol and integrated with multilevel technologies. This provides the firm with an opportunity to offer technical support for application evaluation in asset management, social management, entertainment, games and lots more.

The firm envision to collaborate with prominent commerce and application platforms in various businesses towards a block chain system that will improve industrial efficiency

DESIGN OBJECTIVE

The firm seeks to use First block chain to address the shortcomings of the traditional block-chain platform This will improve the efficiency of transaction verification and optimize the flexibility and usefulness of smart contracts

Key Innovations in the designs are:

• Multi-level authentication platform
USECHAIN adopts cryptography solution to establish a multi-level authentication mechanism. This aids the authentication process without damaging users’ private information.

• RPOW (Randomized Proof of Work) consensus platform
The combination of decentralized and distributed ledger makes it possible for RPOW algorithm to communicate synergistically and perform its operations at a low rate of energy consumption

• Network Shrading Technology
Identity Network Shrading (INS) and Identity Transaction Shrading (ITS) enables transaction to be performed at a shorter time.

• Identity Virtual Machine
Through the use of intermediate communication layer, IVM can be programmed directly hence establishing an interaction with external data. This help to extend its (USECHAIN) capability

• Light node client
The adoption of higher level Merkle Tree helps reduce the amount of data light – node client needed to authenticate the accuracy of transactions and data

• Online fault tolerance
One of the key design that distinguish the First block chain is its ability to perform it task –usual transaction and generate blocks even when a specific node
encounters variance during operation

COMMERCIAL VALUE
To achieve its set vision, USECHAIN continuously undergoes wide-ranging upgrades in

• Security

• Performance

• Public Participation

• Energy consumption

USECHAIN ECOSYSTEM VALUE IN BLOCK CHAIN TECHNOLOGY

USECHAIN will bank on its relationship with top business schools, distinguished firms and industries to establish the world’s first high performance mirror identity block-chain

USECHAIN ECOSYSTEM INNOVATIVE APPLICATION

USECHAIN offers an highly efficient, diverse and flexible value transition channel which will seamlessly and securely connect the real world and the digital world.

Registered users are afforded the options to use cryptocurrencies for payment of goods and services. Since users’ information are saved on the block chain, the probability of scams is at the least level

Organizational Principles are

• Strong governance system

• Impartiality

• Non governance system

The mission of the firm is to develop a standard ecosystem where consumers can purchase their basic needs based on credit. This it intends to achieve by giving talented developers a a secure and sustainable platform to develop and deliver existing services to users

DECENTRALISED EXCHANGE

USECHAIN plans to use High performing identity based block-chain to address the continuous menace of manipulation by intermediaries in the cryptocurrency market

USECHAIN TOKENS

USECHAIN offers all participant community developers and supporters a UST- an official taken to remunerate them and support the ecosystem. This is to ensure that participants take part in the community building. The value of UST is expected to rise as the ecosystem economy grows. Financial assets such as gold and precious stones can be conveniently converted to tokens

TOKEN DISTRIBUTION

A total of 20 billion token (UST) will be produced. 45% of the distribution ratio will be for sale, 20% for community rewards, 15% for technical community rewards, 15% for core team while the remaining 5 % will be allotted to marketing and partner support

LEGAL AND REGULATORY STANDARDS

Participants are expected to weigh the under- listed risk factors before purchasing UST- token

Reliance on computer infrastructure

Due to its dependence on computer hardware and internet, it is subjected to disruption and interferences like computer virus attack, system failure e.t.c

Smart contract shortcomings

UST smart contract is dependent on the smart contract technologies. This exposes it to operational and financial risk

Taxes

There is possibility that token holders will be subjected to pay tax for transaction carried out with UST. Token holders are obligated to comply with tax laws