Wide expansion of technology happened in last decade created new room for digital revolution. As a result blockchain technology has made a drastic progress by today. Blockchain technology creates a decentralized, secure environment for technology users, at the end public as a whole. But still, there are several failures in blockchain technology. We can list three major failures as follows.
Low performance – performance of blockchain network is measured based on the maximum possible number of transactions that could be measured in one second. Existing blockchain structure supports only 7-25 transactions per second. With such a low processing capacity it is challengeable to adopt in mass scale.
Anonymous environment – Existing blockchain Industry operates in an anonymous environment. On-chain account address doesn’t have any connection with the real identity off-chain. This might create motivation for illegal activities such as money laundering and illegal fundraising.
High technical difficulties - blockchain application is the highly technical thing. It requires the support of multidisciplinary and technical resources. Most of the platform participants don’t possess that technical knowledge as the blockchain is in the early stage of its development.
Due to the above reasons, people prefer to use centralized solutions instead of moving to a decentralized solution. Usechain has been developing as a solution for these barriers. Accordingly, Usechain is the world’s first mirror identity blockchain ecosystem which is powered with ID- enabled consensus, security, and privacy. Some of the key features embedded in Usechain are as follows;
Multi-level authentication mechanism – Usechain establishes a multi-level authentication mechanism using cryptography. The platform will make sure that the users’ privacy is secured.
RPOW consensus mechanism – Randomized proof of work consensus algorithm are used to achieve high-frequency transaction verification while reaching expected scale, speed, and cost.
Network sharding technology – Using network sharding technology, transactions can be confirmed in short time as the transactions can be confirmed within the relevant sharding.
Identity virtual machine – Identity virtual machine is a new way of building high-performance smart contracts.
All the innovative features including the above have been able to develop an innovative platform with following features.
High Performance
Higher security level
Higher performance level
Low energy consumption
Better community interaction
Usechain uses UST tokens as the native token to the platform. 20 Trillion Tokens are expected to be distributed among the platform participants as follows.
45% shares through ICOs
20% will be distributed as community rewards
30% will be distributed among the team members and technical community equally
Remaining 5% will be distributed through marketing campaigns
Usechain has deployed a management team which is comprised of highly qualified and experienced professionals in IT, legal, financial, technology, and marketing. Following is a brief explanation of the founder.
Henry CAO
Henry is an expert in finance and he is the founder of first finance MBA in China. He held the position of CEO at Usechain and he was the managing director of China blockchain application research lab.
The team expects to launch the first Dapp in the 3rd quarter of this year and at the beginning of 2019, the decentralized exchange will be released publicly.
For More Information About Usechain ICO:
Website: https://www.usechain.net
Whitepaper: https://www.usechain.net/usechain_en.pdf
Facebook: https://www.facebook.com/UsechainFoundation/
Twitter: https://twitter.com/usechain
Telegram: https://t.me/usechaingroup
Bitcointalk: https://bitcointalk.org/index.php?topic=3609821.0
Post by Anton De Mel
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1770640