Amongst all inventions and innovations in the human history, one of such that has improved human communication and networking skills is advent of the Internet. The internet made communication easier and cheaper especially in the data, voice and video aspects. Even in the financial sector, transactions are initiated and confirmed within seconds as against delayed process of waiting several hours and/or days. Not to mention eradicating long queues in the banking premises. But one major threat to the internet is CYBERCRIME. Data is been stolen within microseconds via ads (such as pay-per-click, pay-per-view etc) and unknowing login on phishing sites.
To protect users' data information, a great innovation called the Blockchain Technology was invented.
THE BLOCKCHAIN TECHNOLOGY
Blockchain Technology is a decentralized cryptocurrency peer-to-peer ecosystem that is secured and transparent. This ecosystem provides security to users' data information as well as eradicate the fear of transacting with an unknown client irrespective of location, Fiat and time difference. The technology uses Proof-of-work (PoW) consensus in paying the miners (individuals or group of people solving mathematical nodes in order to confirm transactions initiated within the blocks). It also ensures users' identities are secured. The first cryptocurrency adopting the Blockchain Technology was Bitcoin. Bitcoin is well known globally and it pave way for other cryptocurrencies such Dash, Ripple, Monero to mention but a few.
One good thing with innovations is that there's always room for improvement. Thus Blockchain 2.0 popularly known as Ethereum is centred on Smart Contracts, allowing the exchange of different cryptocureencies, an effective crowd funding platform and a gateway to develop and globally build the blockchain industry.
The boom in the crytoworld over the years brought in so many investors and projects with intentions to solving one problem or the other and to make money via the ecosystem, such that the main purpose of the technology itself was abandoned (which was storage of event records and management activities such as identity management and transaction processes). Several cases of stolen data and hack of accounts, which most times were linked to the anonymousity nature of the technology. Since the technology didnt give room for KYC, thus it can easily be used by tourist, kidnappers and fraudsters to move drug funds from one location to another without been traced by the authorities.
This led to the birth of a better innovation, which can protect users' data as well as offer transparency, security and especially scalability, which is lacking in both Blochain 1.0 and 2.0.
Usechain is the first Mirror Identity Blockchain developed to put an end to the lapses of Blockchains 1.0 and 2.0 respectively. Usechain intend to improve on: low performace, anonymous nature and high technical barrier present in traditional blockchain system by adopting RPOW consensus. Randomized Proof of Work (RPOW) will give maximum protection to users data and increase proficiency in the Usechain ecosystem.
The chart below shows the effectiveness of RPOW over POW (Proof -of-Work)
Been embedded on the blockchain technology, Usechain is another decentralized ecosystem with:
a. high level security,
b. high performance,
c. low energy consumption,
d. public participation,
e. multi-level authentication and
f. coded algorithms such as Identity Virtual Machine (IVM), Identity Network Sharding (INS), Enhanced Smart Contract, Zero Proof, Identity Transaction Sharding (ITS) and other great innovative technologies.
It is no doubt that Usechain is creating the revolution of Blockchain 3.0
FEATURES OF USECHAIN
Usechain offers amazing features such as:
Hardware-Based Performance Improvement.
Privacy-Protected Identity Application
Boundary-less Identity Ecosystem
Top Business School Supported
USECHAIN TOKEN (UST)
The token UST will be used in all forms of transactions in the platform:
a. to compensate community developers and supporters that have helped to grow the ecosystem,
b. to allow all clients to use the decentralized applications.
At the present moment, UST is an ERC20 based token, which is aimed to allow members take part in the community and grow it. As the community grows as well as the Usechain ecosystem, there will be a migration of the ERC20 UST token to UST coin when the mainnet goes live. This is done to protect the interest of all members in the ecosystem.
Token Name: UseChain
Token Ticker: UST
Token Standard: Ethereuem (ERC20)
Token Total: Supply: 20, 000, 000, 000
Accepted Currency: ETH(Ethereum), BTC(Bitcoin)
SoftCap: 1350 BTC
HardCap: 4500 BTC
ROAD MAP
For More Information, Kindly Visit any of the following Links below:
Website: https://www.usechain.net/
Whitepaper: https://www.usechain.net/usechain_en.pdf
Telegram: https://t.me/usechaingroup
Twitter: https://twitter.com/usechain
Facebook: https://web.facebook.com/pg/UsechainFoundation/photos/?ref=page_internal
Medium: https://medium.com/@usechain
Author’s Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2234576;sa=showPosts