USECHAIN –Rebranding Blockchain Technology

Blockchain technology has thrived over the last decade from having little or no recognition to being one of the biggest ground breaking technologies with the prospect to impact the financial, educational, transport, manufacturing, commercial industries. Until lately, the power of blockchain technology was not understood by investors and entrepreneurs; the use of blockchain was only linked to bitcoin as a result of the pioneer founder NAKAMATO SATOSHI. In recent times, the use and potential of blockchain technology has constantly been in light and investors are keen on discovering how blockchain technology can be of great impact in insurance, supply chains, healthcare, transportation, voting, contract management and many more. However, there has not been a general acceptability of blockchain technology by the world because it has been greatly plagued by a number of challenges which includes poor scalability, performance inefficiency, high technical threshold, low transaction performance, high consumption of power and anonymous environment; it is on this premise that USECHAIN is birthed.

USECHAIN is geared towards building the first mirror identity protocol by building an identity blockchain system on a new structure. Usechain creates a platform in which users private information can be integrated into blockchain without having a breach in the privacy and security of the user. The mirror identity protocol is an identity address mapping system used for the sole aim of protecting the identity of the user. This protocol ensures that the identity of the user is unmapped (i.e. anonymous) and privately secured but the address will be accessible for all to view for the sake of transparency.

USECHAIN VERSUS BLOCKCHAIN 2.0

1. SECURITY
   Often times we input our data online without really understanding the effect it may cause in the long run. The social and commercial world has exposed us to the risk of data manipulation and fraudulent activities which is as a result of unsecured data. Blockchain has a wide gap to close up in the aspect of privacy and security of users. The on chain transactions on blockchain are globally published and are not encrypted most times and the solution to this may be to store only encrypted data online. Usechain creates a multi-level authentication environment that tends to encrypt private data of users thereby securing the data from manipulation and theft. The identity security of the user is subject to an authentication mechanism used for verification of users; this shows a high level of transparency as well as provides complete privacy protection.

2. PERFORMANCE
   Performance and scalability is one of the challenges that has consistently plagued blockchain and it is one of the major reasons why it is yet to spark a predilection by the world at large. Unlike other centralized system that can perform swift transaction, blockchain transaction is slow and this tremendously decreased its level of adoption. Research has shown that the on chain capacity of a blockchain transaction process is limited to an average of about 10 minutes and the maximum transaction is estimated at 3.3 to 7 transactions per second; this has constantly constrained the throughput of the blockchain network. Usechain is a blockchain 3.0 platform built to perform large scale transactions from billions of people and millions of decentralized social and commercial applications. The usechain platform provides an efficient transaction speed and can be used by millions of users around the world at the same time without the fear of glitch and network backlogs.

3. INCREASED TECHNICAL PROFICIENCY
   In other the increase the technical proficiency of blockchain technology, randomized proof of work (RPOW) is built to help in fast tracking transactions verification with low consumption of energy and a fair mining environment. Usechain also integrated the use of identity virtual machine (IVM) for building smart contracts which can interact with blockchain, sub-chains, external APIs etc.

USERS BENEFIT
Usechain will give developers a platform to create innovative application that can foster the growth of the chain.
Usechain will offer an official token known as UST as an incentive for community developers, supporters and all users are allowed the ability to use decentralized applications. As the ecosystem increases the worth of the token also increases.
Future identity and credit based applications is a huge factor that will propagate the value of the token. Hence, the financial worth of the token is likely to increase over a period of time.

Token Information
ICO supply (private & public): 9 billion tokens
Soft cap: 1350 BTC
Hard cap: 4500 BTC
Price/Conversion rate: 1 BTC = 1000000 UST

For more information on usechain visit:
Website: https://www.usechain.net/
White Paper: http://www.usechain.net/usechain_en.pdf
Bitcointalk: https://bitcointalk.org/index.php?topic=3432061.0
Facebook: https://www.facebook.com/UsechainFoundation/
Twitter: https://twitter.com/usechain
Github: https://github.com/usechain
Reddit: https://www.reddit.com/user/Usechain
LinkedIn: https://www.linkedin.com/company/usechain/
Medium: https://medium.com/usechain
Telegram group: https://t.me/usechaingroup
Telegram channel: https://t.me/usechain

Meet the team

Author's BTT profile:https://bitcointalk.org/index.php?action=profile;u=2050345