Review of the ICO project Usechain

chukwukahonour (35)in #usechain • 6 years ago

To date, the world of crypto-currency is very abundant. Almost every day there are promising, as well as utopian projects that are launched using the ICO model. Today we will talk about Usechain. This digital platform will be used to identify the identity of users of the system. This direction is considered very promising in the world of cryptocurrency because now many projects are aimed at enabling participants to interact on the network in an anonymous mode. In simple terms, Usechain development will be applied in the financial sector of the real economy. Developers have thought through to a detail a special authentication system to protect users from fraudulent schemes.

The technological aspect of the project

A new level of security for network participants will be achieved through the following digital mechanisms:

ID-Enabled Consensus;

ID-Enabled Security;

ID-Enabled Privacy.

From this, we can conclude that the process of identifying users will be carried out in several stages, which will protect personal data from offenders. First of all, the development can be applied in the following areas of the financial market:

Banking activity;

Insurance;

Crediting;

Digital payment systems;

financial web applications.

The process of user identification will be carried out using special protocols that were created in advance. However, this is not all that the Usechain project wants to achieve. Its plans also include the creation of a decentralized exchange, since the main competitors have already acquired them. It will be used for the internal sale of tokens. If the project succeeds in translating this idea into reality, the world will be credited with adding another convenient decentralized exchange, which is currently lacking in the industry. In addition, participants of the new exchange will be able to perform financial transactions in a safe mode, since previously each user will have to undergo a complex identification system, which was described above. This digital platform will be a convenient place for the development of ICO projects since at the next stage they will immediately be able to conduct trading operations.

Transparency of the system

It was mentioned above that the early generation of events will be transparent. In addition, during this process, the behavioral factors of all participants in the network will be taken into account. This also underlies the security and transparency of user actions, which after the launch of the project will come to a new level. It should be noted that the developers of Usechain have developed a framework of confidentiality that I cannot disrupt third-party participants and network creators.
Each action in the system is immediately archived, which eliminates the possibility of changing or changing events. This means that each operation will have an impact on the overall system, which cannot be undone or corrected. From the above, you can draw a small conclusion that each user will receive reliable tools for the verification of identity, as well as for the further implementation of financial transactions, which can control other users.

Main advantages of the project

Multifaceted digital identification mechanism is the main weapon of the Usechain project in the fight against competitors, as it is applicable to third-party applications, which increases the possibility of successful integration of the product. Digital systems are constantly progressing and evolving, allowing to integrate project development into various spheres of the real economy.
Blockchain technologies allow creating decentralized data stores, which cannot be provided by outdated digital systems that have centralized digital archives. Usechain has a structure similar to the blockchain system, which eliminates the possibility of losing digital data. In addition, within the decentralized structures, virtual data is transmitted at a higher rate than in projects that have a centralized basis.

Proof Of Randomize

- this is the same PoW, randomly arranged. Thanks to this, a consensus of algorithms is achieved, which makes it possible to carry out more transactions for a certain period of time than usual. At the same time, a minimum amount of electrical energy is expended. Also, when using consensus to digital technology, smaller requirements are put forward than competing projects. It follows that it is possible to obtain an appropriate level of protection for the system and users, while the consumption of electricity will be minimal, and the requirements for the computing power of the equipment are moderate.

Team

The Usechain team consists of qualified specialists who have experience in participating in projects related to the world of crypto-currency, marketing, financial sphere, etc. Thanks to this, the team has strengths in all aspects that will influence the further development of this start-up. Judging by the leaders' words, in the future, the project representatives will conduct offline events, where they will communicate with current and potential investors.

Tokens

Name of the token: UST;
Soft cap: 1350 BTC;
Hard cap: 4500 BTC;
The cost of one token when buying on a private sale: 1 BTC = 2,000,000 UST.
Issue: 20,000,000,000 UST tokens.

Conclusions

The project definitely has prospects that, with proper integration, will allow the project to occupy its niche in the real and digital sphere of the world economy. However, it will be difficult to do this, since the financial sector sets high requirements for new instruments. It will take a certain amount of time to ensure the safety of users who participate in the project system and use third-party digital offers based on it. If the multi-faceted identification system does not fail, then it will probably be implemented.