Usechain - The world's first-ever mirror identity blockchain

longnam (32)in #cryptocurrency • 6 years ago (edited)

Have you ever wondered that "Why do we use Facebook and Google without paying?" "How do Facebook and Google sustain a business model in which users don't pay for their services?" When you are not paying for services Google or Facebook provided, you are paying for it with your data, and user data is what running ads is based on. Paying with data for services is the most common business model in the Internet era. According to a 2014 study from CTRL-Shift, the cost of identity assurance processes exceeds £3.3 billion per annum in the UK alone. Signaling reputation is very costly in current financial industry and any other place that requires identity assurance. Could we have something better? In the Blockchain era, the answer is "Yes!".

That's the reason why today I introduce to you a project called Usechain, the first mirror identity blockchain in the world.

Usechain is a Singapore-based company committed to developing a self-sovereign identity Blockchain community alternative to the well-known Bitcoin and Ethereum Blockchains. Usechain CEO said that "Usechain, the self-sovereign identity Blockchain, is aiming to solve the trust issue in this society. Also, our Mirror Identity Technology solves the problem of privacy and technical performance."

In other words, Usechain tries to solve the problem of trust in our society. This platform aims to improve efficiency by providing an effective, low-tech, identity-based, and transaction-based process of management and transaction support in the mass market.

The idea is basic, but providing it with the blockchain service is a definite solution and a great job. The main focus of the Usechain platform is the introduction of a new mechanism and workplace randomization to perfectly balance the high performance and security.

Usechain brings to customers these following benefits:

Secure And Reliable infrastructure
Public Participation
Low Energy Consumption
High Performance
Here are the product features that the team is preparing.

Usechain compares with other blockchain projects

While 99% of Blockchain projects are anonymous, Usechain aims to create a more transparent Blockchain built on real identities. Real identity makes the revolutionary Identity consensus technology come true with high security; Usechain also uses Mirror Identity Technology to protect privacy in Usechain public chain system. To bring a new blockchain generation, Usechain will use multiple encryption and authentication methods, Virtual Identity, Evidence, Advanced Intelligent Contracts, and other advanced technologies.

Compared with current mainstream public blockchains like BTC, ETH and EOS, Usechain solves the impossible trinity among scale, security and decentralization and provides a new way to design the application scenarioes based on massive use of identity since it is built on MIP and receives multi - level reorganizations in underlying level of blockchain. Following is comparation table.

Team and Partner

As part of the project team, there are 10 management people and 6 advisers. In our opinion, a professional team that has extensive experience in IT, finance, marketing and management of similar projects. A lot of representatives of professors and teachers, a significant number of practitioners. The founder and CEO of Usechain is Henry Cao. Based on the description, he is a Finance Professor at Cheung Kong Graduate School of Business, Head of the Department of Finance, Founder of the first Finance MBA program in China, Member of the Finance Society of America, taught at the University of California at Berkeley, the University of North Carolina, Chapel Hill, admitted to the USTC gifted class when he was 13 years old, Yale University/ UCLA PhDs. What a great business practitioner!

Engineered by a world-class technical team, Usechain will achieve a balance between scalability and security by fusing their unique "Randomized Proof of Work" (RPOW) consensus-building mechanism built on identity with a multi-tiered, sharded network to make transactions safe and efficient.

Usechain works in partnership with the media: Yahoo Finance, Albany Business Review, Cision, Market Watch, Yam and others.

Usechain has worked stablely for over 2 years, finished all their plan in the year 2016, and 2017. And now, they are in stage Q3 2018. In this stage, Usechain will develop software-based RPOW consensus algorithm, develop enhanced smart contracts and TPOS consensus algorithm. They also launch beta version of main chain and the first DApp. They set a goal chieving 100000+ people in the community. This goal is competely able to successful beacause now, they has nealy 65000 people in the community, in which their Telegram has nearly 60ooo members. All plans that they proposed in their roadmap is very satisfactory because of all advantages they have and remarkable achievements they got.

To summarize, I can confirm that the demand for the services of the Usechain platform is great. Nowadays, IT industry requires identification in various kinds of applications, gadgets, when accessing any personal information or functions. This is especially high in the crypto-currency sector.