Usechain: The Multi-purpose Mirror Identity Blockchain

Blockchain technology and cryptocurrency have shown the tendency to create a secure and autonomous society. The implementation of blockchain technology across numerous fields of life has shown the tendency to bring about transparency, credibility, reliability and social justice but nevertheless, the adoption of blockchain technology and cryptocurrency is still undermined by so many factors. As a means of digital payment, cryptocurrencies suffer from scalability issues which arise with increase in transactions.As the number of users on the blockchain grows,so those the amount of transactions increase and the tendency to experience clugginess, slow confirmations and high cost of transaction become possible. Anonymity remains another trivial problem restricting the adoption of cryptocurrency. Government and other regulatory organizations often see cryptocurrency as a tool for money laundering and perpetuation of criminal activities because of the lack of a framework to synchronize wallet address to real identities.The claims by the government is definitely not out of placed. In the past bitcoin and other cryptocurrency has been traced to terrorist funding and ransom collection for kidnapping operations due to the anonymous features the blockchain provides. High technical difficulties have also hampered the incorporation of blockchain technology into everyday activities because companies, organizations and even users find it hard to integrate and invent decentralized applications (dapps) based on blockchain technology into fields such as finance, marketing, IoT, gaming, entertainment,AI,transportation,logistics social networking e.t.c.

 If blockchain technology will ever gain mass adoption, the need for a platform with superior technical architecture, adaptability for easy incorporation into various fields, and an identity system that will encourage all members of the society to participate in the crypto ecosystem without fear of exploitation and other nefarious activities becomes imperative.

Introducing Usechain

Usechain is a mirror identity blockchain ecosystem developed to satisfy issues of identification,  performance and scalability, and the technical barriers hindering the mass adoption of blockchain technology. Usechain concept seeks to bring real identity into blockchain with underlying features to guarantee high performance, secure and reliable infrastructure for transactions.The Usechain platform intends to use the identity features of the blockchain for improved commercial and social liaison between stakeholders of the ecosystem.

 Key Features of  Usechain 

1. The technical architecture of the Usechain blockchain consist of mirror identity protocol,multilevel authentication mechanism, Randomized proof of work (RPOW) consensus mechanism, Network sharding technology, identity virtual machine, light node client and online fault tolerance in order to guarantee high level security, high level performance, low energy consumption and encourage public participation on the network.

2. The Usechain ecosystem will encompass users, application participants, and technology participants. The ecosystem will support cryptocurrency payment by users and create promotional strategies for merchants, device identity values and a trust system in order to facilitate decentralized financial services and a credible sharing economy, decentralized funds for market portfolio index and a decentralized insurance funds. The Usechain ecosystem will also facilitate decentralized exchanges, blockchain gaming, more efficient and secured IoT applications backed by Usechain, tuition funds for undergraduates, digital content production and trading powered by the Usechain identity blockchain.

3. The Usechain official token UST will be used for all forms of transactions in the Usechain ecosystem. The UST will also be used to reward participants on the Usechain platform and facilitate the growth of the ecosystem. UST will initially be issued on the ethereum blockchain as erc-20 token for the purpose of the initial coin offering and later swapped for the UST version on the Usechain identity blockchain.

UST Allocation and Token Sale Details

In order to allow widespread distribution of the UST and raise funds for technical research, project operations and improved marketing of the Usechain platform, the Usechain team has put up 45 percent(9 billion unit) of the maximum supply of UST (20 billion units) for sale. The main sale/ initial coin offering (ICO)  is set to start on the 20th of June and end on the 4th of July 2018.

Usechain Team

Executive Team 

Advisors 

Conclusion

The Usechain project proposes a bumper resolution of the issues currently plaguing the crypto-ecosphere and with hybrid technical architecture and an identity protocol that allows incorporation of real identity into the blockchain, mass adoption of cryptocurrency is definitely one step closer with Usechain.

For more information on the Usechain project, check out the following links

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