One of the Unique Features of Usechain: The Randomized Proof Of Stake Consensus Algorithm

With the introduction of the decentralized blockchain technology and with the great acceptance and entry of numerous investors, there are still problems that affect it.
The earlier version of this technology was efficient to a certain degree and in the present day, it feels as if the main and sole aim of this technology was forgotten as a lot of people flooded into numerous blockchain projects.
This was the main reason why the Usechain was developed to curb numerous issues that plague the blockchain technology. This platform is decentralized like the blockchain technology and it will be the first blockchain platform to make use of the mirror identification technology.
The advent of this technology was due to problems that came up in regards to numerous platforms in terms of user authorization, security of the user data and the integration capabilities of this projects.
Usechain will provide a great futuristic technological infrastructure for the virtual and reality world, provide support for the development of dapps, create a unique identity blockchain as well as provide logistics and support for a lot of applications in numerous fields such as finance, marketing, games, social networking, e.t.c.

One of the features that makes this Usechain very unique and efficient is its consensus algorithm. It makes use of the Randomised Proof of Work consensus algorithm and that's what I will talk about today.

What is a Consensus Algorithm?

This is one of the most important feature of a blockchain network and it was made to ensure reliability in the network.
This processes were designed to make agreements on one single data value among numerous other distributed processes. If the consensus algorithm was absent, this will mean that anyone can add or remove any information to the blockchain thereby decreasing its reliability. There are numerous consensus algorithm utilized by the current blockchain and some examples include

Proof of Work (PoW) - this was first successful blockchain consensus algorithm and its made use by Bitcoin, Ethereum, Litecoin, Monero and numerous others.

Proof of Stake (PoS) - this was used by NEO, dash, Navcoin, and OKCash.

Delegated Proof of Stake (DPoS) - this was used by Bitshares, Steemit and EOS.

Byzantine Fault Tolerance (BFT) -this was used by Stellar, Ripple, and Hyperledger.

Directed Acyclic Graphs (DAGs) - this was used by IOTA, Nano and Hashgraphs.

Problems that Arose with the Use of the Existing Consensus Algorithm

With the use of the current existing consensus algorithms, they either had a deficiency that made them incompatible with scalability, security or efficiency.
Let give an example;
With the use of Proof of Stake, it meets the requirements of the Efficiency but can’t in terms of Security and Scalability.
With the use of Proof of Work, it meets the requirements of Scalability and Security but it cannot bear the heavy computational power.
With the use of DPoS, it can meet the requirements of Efficiency and Scalability but it cannot ensure adequate Security.
With all the above forementioned, it's shown that most of the existing consensus algorithm either is lacking in terms of scalability, security or efficiency.

How Usechain Solves the Problems associated with The existing consensus algorithms

Usechain tackles numerous problems associated with the consensus algorithms with the introduction of the Randomized Proof Of Work consensus algorithm and this was built upon the identity mapping.
The security of the system is very improved as there is a reduced centralized hashing power and the ability to withstand attacks due to double spending and probability of forking is drastically reduced. With all this, the security of the network will be greatly improved.
The performance of the system will also be improved as the virtual hash power will be distributed in equity to numerous miners so that the efficiency and speed of transaction confirmation will be very increased.
Due to the distribution of hash power to numerous miners, there will be less stress on the blockchain network as they will be less utilization of computing resources and the use of less energy for transactions.
This will make it easier for users to be able to mine with their mobile devices as this consensus algorithm allows for the use of less computational resources as well as less consumption of energy. This will allow the public to have a major role in the Usechain Ecosystem.

Conclusion

Thus, with the Usechain Random Proof of Work, it will create a system where there will be a very improved scalability, security as well as efficiency and performance and this will allow for the participation of normal users in the system as they mine with their mobile devices. With all this, will allow for the easier integration of this technology into our daily lives.