Usechain: Revolutionizing blockchain technology with Mirror identity
Adam runs an agricultural farm and due to the impeccable quality of products from Adam agricultural store, his customers demand for agricultural commodities has increased sporadically. Adam now has to export products to foreign customers from far and wide seeking agricultural products and other commodities. Having to carry out cross-border financial transactions has become herculean for Adam. His need for improved payment services with speed, reliability, and affordability led him to cryptocurrency. At the onset, the utilization of cryptocurrency for carrying out transaction was mind-blowing for Adam but after a while, he began to face some issues regarding using cryptocurrency for receiving payment for products and also paying for things online. Adam noticed that it was impossible to really identify who his customers are. To ascertain which of his customers paid for a product at a particular time became a real issue and due to the decentralized nature of the blockchain making it easy for any tom dick and harry to pick up hash code for transaction sent to Adam, the Lack of an identification system became a torrid affair for Adam's business. The current blockchain system does not boast of a means of meeting up to KYC and AML requirements and asides from identification issues, there are other issues hampering the adoption of cryptocurrencies in various parastatals. Namely: lack of adaptability features to support application of blockchain technology in numerous fields and poor transaction performance.
Introducing Usechain
Usechain is a mirror identity blockchain ecosystem developed to mitigate the current issues hindering the adoption of blockchain technology into our everyday life by bringing real identity to blockchain through the synchronization of real identity to on-chain wallet address and empowering the Usechain blockchain with a high-performance, secure and reliable infrastructure. Usechain seeks to create a decentralized virtual society where individuals can create value in the ecosystem by continually investing their time, attention and assets and get reward from the usechain ecosystem. The Usechain identity blockchain will support the development of decentralized applications which will be used in numerous industries namely the Finance, entertainment, gaming, IoT, asset management e.t.c. In other to gain widespread deployment, Usechain public blockchain boast of solutions to the problems of scalability, security and decentralization which guarantee high level performance and with its solid technological advancement compared to its predecessors shown in the image below and support for commercial application of blockchain technology, Usechain is set to improve the efficiency of various industries.
key features of Usechain
1. The usechain ecosystem proposes an identity value and a trust system which will be used to facilitate decentralized financial services, credible sharing economy, decentralized funds for market portfolio index and a decentralized insurance funds.The Usechain ecosystem also proposes decentralized exchanges, blockchain gaming, tuition funds for undergraduates, digital content production and trading with all these characteristics powered by the Usechain Identity blockchain. Usechain boasts of rich resources in various industries and with an advanced public blockchain, Usechain is set to power many decentralized applications(Dapps) in various industries.
2. In order to achieve superior performance, the Usechain public blockchain will utilize the following advanced technology: Mirror identity protocol, Randomized proof of work (RPOW), multilevel authentication mechanism, Network shading technology, identity virtual machine, light node client and online fault tolerance. Asides from the identification features , the Usechain public blockchain will also guarantees low energy consumption and high transaction performance.
3. Usechain official token UST serves as the fuel of the Usechain ecosystem. UST will also be used to reward participants on the Usechain platform and facilitate the growth of the ecosystem. UST will be used for all forms of transaction in the Usechain ecosystem. UST will initially be deployed as an erc-20 token for the purpose of the ICO and later swapped for its equivalent on the Usechain identity blockchain.
UST Allocation and Token Sale Details
In order to raise funds for the actualization of the usechain project, the Usechain team has put up 45 percent of the maximum supply of UST(9 billion tokens) for sale and the main sale kickstarted on the 20th of June and is set to end on the 4th of July 2018. The image below shows the allocation and key details regarding the Initial coin offering.
Usechain Team
Executive Team
Advisors
Conclusion
A lot of "Adams" in the form of individuals and organisations are out there waiting for a solution to the problems inhibiting the utilization of blockchain for effective commercialization and the Usechain project provides a lasting resolution to this issues with its state of the art technical architectural, incorporation of real identity into the blockchain system, support for Dapps which will enable the penetration of blockchain technology into various industry and the creation of a virtual society powered by the UST.
For more information on the Usechain project check out the following channels
Website :http://www.usechain.net/
Whitepapper:http://www.usechain.net/usechain_en.pdf
BTT ANN thread: https://bitcointalk.org/index.php?topic=3432061.0
Telegram link: https://t.me/usechaingroup
Authors details :
BTT name: Mrsparks
BTT profile link : https://bitcointalk.org/index.php?action=profile;u=1197564;sa=summary