Usechain is a decentralized platform that uses blockchain technology, which guarantees maximum protection when working with the project. The platform uses mirrored authentication technology to make user authorization reliable and secure. And also uses a completely new mechanism for consensus randomized proof of work (RPOW), which gives the platform a high degree of protection and huge productivity. Personal data will be securely attached to the Internet purse, which will give impetus to the large-scale use of blockchain technology. And this will lead to a new round of development of blockchain technology.
Usechain with its blockchain wants to reduce the cost of DAPP applications and scale their usage by making DAPP as simple and user-friendly as possible. This is necessary in order to unite the digital world with the real world.
USECHAIN EMPOWERS IDENTITY.
Usechain, the self-sovereign identity blockchain, is ultimately aiming to solve the trust issue in this society.
KYC(Know Your Customer) is important to the financial industry. The team have came up with a new concept that can map every person, every business and every asset to the blockchain. “Every person or business will have a real account. Which then transfer through smart contracts to build deeper trust.” By identity mapping, it will allow Usechain to meet the critical KYC standards of traditional financial institutions, shifting the focus on “who you are” to “what you can do”,making it more compliant to applications outside of its own ecosystem. It will also greatly reduce the cost of identity assurance and reform financial industry.
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) revolutionized consensus built on identity with a multi-tiered sharding network to make transactions safe and efficient. Real identity information will be encrypted for privacy and mapped for legal assurance so as to be available to governments for investigations against criminal actions.
One of the important function of the platform is:
Significant increase in JSC hardware, High level of protection of personal information. This feature is achieved through the use of blockchain as the technical basis of the platform, the system of identification of the person realized in the boundary form.
Advantages that arise from the use of the algorithm for RPOW consensus?
The creators of the project insist that this algorithm provides the maximum level of decentralization and this statement is not divorced from the truth. The probability of mining the next block by the miner is determined in a random, not amenable to a pattern, order. In practice, this feature forms the same probability for each miner to get a block, which in itself is quite convenient and important. It is curious that the difficulty of mining will vary depending on the level of the user. If the user is a beginner, it will be easier to mine the crypt, but after reaching a high level, the production will be complicated, which ensures decentralization.
WHAT DOES USECHAIN PLAN TO ACHIEVE?
- Allowing users to use Cryptocurrency stored in wallets as well as digital discount coupons for payments processed on a decentralized peer-to-peer network.
- Decentralized financial services whereby everyone can perform mutual authentication and individuals can enjoy a range of inclusive financial services such as loans, crowdfunding and others using their personalized identity tokens.
- A sharing economy whereby mutual trust and higher-level of credibility is promoted because transaction histories and behavioral data cannot be deleted or changed and are fully accessible to all parties.
- Promote more efficient and secure Internet of things (IoT) and smart devices based on the blockchain ecosystem.
- Usechain will create a platform that will allow users to set up decentralized funds and conduct passive investment in the market portfolio index.
- Usechain's decentralized distributed ledger technology allows users to use UST to participate in unattended insurance funds and can help build people's confidence in mutual-aid accounts.
- Using its identity-based blockchain technology, Usechain will be able to allow decentralized exchanges that will disrupt the centralized exchanges done in the cryptocurrency market where intermediaries manipulate the market and set high transaction fees to make profits.
CONCLUSION.
The project is not only curious, quite original and in its revolutionary novelty, but also a very promising platform that has already attracted the attention of a huge number of people from different parts of the world. Blockchain is not only confidently integrated into the life of modern people, but also resolutely break into it. Yesterday's opponents and critics of this technology are increasingly becoming its allies. In fact, this project is aimed at introducing the blockchain and its capabilities to as many people as possible around the world.
What is the team leading the project?
Today, the team leading the project consists of 10 experienced professionals. Professors, teachers, Economics and marketing gurus who manages the project. You can see the photos and names of the site managers below, many of these names are known in the world.
USEFUL LINKS
Website: http://www.usechain.net
Whitepaper: http://www.usechain.net/usechain_en.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=3432061.0
Telegram: https://t.me/usechaingroup
Facebook: https://web.facebook.com/UsechainFoundation
Twitter: https://twitter.com/usechain
LinkedIN: https://www.linkedin.com/company/usechain
Author’s Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1578037