Blockchain technology as it is noticeable is now gaining ground in terms of viability, it can be seen that many and we can say most companies and businesses coming up now are now building on blockchain technology, investment is now being made on an fast growing rate and this is because projects and innovation has come to the realization of the numerous benefits blockchain technology has to offer, to their advantage and that of those involved. Lets take a moment to go through blockchain technology and evaluate what has happened since its invention. It has has been observed that in most sectors, it has brought most solutions to pains that has been crying for solution for quite some time now. Some of these problems are as follows; lack of transparency and lack of flexibility has been a problem unresolved even though some platform has tried thier best in coming up with a long lasting solution, they have all come short of answers.Another is the Lack of high level Security and problems of network consensus which the solution raised seemed to have no lasting effect. low performance level and scalability are not also forgotten as factors hampering the growth of the sector. Provided these stumbling blocks are not existing, it would have been a smooth road for blockchain to the top. But, there is good news as USECHAIN PLATFORM has come with the solution to them. We will briefly go though the project.
MIRROR IDENTITY PROTOCOL ( USECHAIN OVERVIEW)
The usechain platform introduces the mirror identity network protocol for the betterment of blockchain technology in sense that there is an edge provide by it addresses comparison ability on a blockchain platform so as to make trust loopholes a thing of the past in the system as information is being gathered. Preservation of personal data and information full confidentiality of and information is deemed not to be a problem as mirror identity is being integrated as users are filled with confidence that their information is safe and not visible to a third party. The data on this platform possesses the features of anonymousness as transparency is also not left out for every completed transaction record on the network. Furthermore the integration of the mirror identity give a whole lot of advantage to everyone involved. Looking at the efficiency of transaction verification to meet infrastructure requirements of mass market application, the mirror identity is responsible for that as it is solution to one of the problems plaguing the system. Also, the ability of the identity mirror to reduce deployment of smart contract in a massive way which the system has been longing for is also via the mirror identity network protocol and simultaneously mirror identity offers a highly flexibility level and also transparency in all transaction record aspect. So by saying of it all, we can understand that maximum transparency, provision of smart contract cost deployment, high flexibility level and provision of efficient transaction process are the main benefits to be enjoyed by using usechain platform.
RPOW MECHANISM( THE CONSENSUS ALGORITHM)
The RPOW consensus is a development in one of the layers that make known as the consensus layer and its full meaning is known as the RANDOMIZED PROOF OF WORK. The RPOW mechanism in the consensus layer is developed to achieve superb verification of transactions with high frequency on a simultaneous lower rate of energy consumption and suitable mining ecology. The RPOW has brought in opportunity to resist attack as a result of the presence of collaboration of distributed ledger and decentralization. And at the same time seeing to the issues of scale, cost and speed that are very much in demand.
VALUE ADDED BY RPOW MECHANISM
Only a few will disagree that this innovation by usechain platform has a lot of benefits to offer. Below are some of the advantages to come with its invention;
- IMPROVED SECURITY: The mechanism introduced minimizes centralization degree of hashing power, and while also at the same time reducing probability of fork and double attack spending.
- ENERGY CONSUMPTION BEING MINIMIZED: Reduction in the dependence on hashing power on the network is done as a result of bringing in the identity protocol.
- PUBLIC PARTICIPATION: since low level of energy consumption and resource is now in place, there is a public access to everyone even to have it so that mining is now possible on mobiles.
- HIGH PERFORMANCE LEVEL: integrating the consensus algorithm mechanism has made possible that efficiency of transaction confirmation will be reduced to adjust distribution of virtual harsh power as a result of miners being given different difficulty.
EVALUATION OF THE USECHAIN CORE TEAM
The team that has put together all they have in terms of experience and ability for the success of the first public identity mirror protocol are as follows ; HENRY CAO is the CEO and founder of the platform, as BAOHONG SUN is the CSO, we have SHENGLI ZHANG as the chief scientist of the project and FENG ZHANG as Senior financial advisor. Erik XU is the COO here amongst all other great professionalism team altogether. The image below shows them altogether in summary;
In summary, USECHAIN project is a blockchain built platform, being the first public blockchain platform to be developed on the mirror identity protocol. And it is introduced to utilize different authentication level and encryption process, and also enhance smart contract amongst other innovations also not leaving out its provision of a transaction identity based management. However, the platform will will have an improved performance level also operate on an improved high level of performance.
For more Info, Kindly visit;
Website: https://www.usechain.net
Whitepaper:https://www.usechain.net/usechain_en.pdf
Medium: https://medium.com/@usechain/
Twitter: https://twitter.com/usechain
Facebook:https://www.facebook.com/UsechainFoundation/
Telegram: https://t.me/usechaingroup
Author: Teepheh
Bitcointalk profile link; https://bitcointalk.org/index.php?action=profile;u=2142272