There’s no doubt that blockchain has made unending progress since its forthcoming in 2009. While Bitcoin initiated the concept of decentralized currency, Ethereum which came up in the second generation facilitated the use of smart contracts.
What is USECHAIN?
This is a blockchain platform that created the first mirror identity system on a solid technological foundation of a new consensus mechanism, identity virtual machines and other infrastructures of the existing blockchain to take the blockchain to another level entirely.
This platform created with the aim of taking blockchain technology a step higher intend to do so by linking the platform with various technical communities, and gain resources from top business schools with the aim of creating applications that are identity generated that can benefiting users who want to verify asset identity,application participants that wants to verify the identity of users under them and technology participants who are responsible for the backbone infrastructure of the platform.
Blockchain Users can be at rest knowing that their personal data and information is preserved with full confidentiality. Meaning that the public will not be able to view a user’s personal information, as such, data will be anonymous, and records of transactions that take place will be transparent.
WHAT IS MIRROR IDENTITY?
According to Usechain, “Mirror Identity is defined as the identity address mapping protocol that is being utilized in the ecosystem to ensure that the identity off-chain remain anonymous and privately secured, only the address will be mapped on the blockchain”. Now, what does this mean in simple English? It simply means that even though you are active on the blockchain, the data associated with your identity is stored as incognito and remains unknown to everyone else, but the transaction on your address will be visible by all. Mirror identity allows for the comparison of addresses on a decentralized platform. Blockchain Users can be at rest knowing that their personal data and information is preserved with full confidentiality. Meaning that the public will not be able to view a user’s personal information, as such, data will be anonymous, and records of transactions that take place will be transparent. So, how does Usechain plan to use this to create a better blockchain technology?
Due to the application of blockchain to almost every major sector or industry, we can see that new blockchain projects are constantly emerging, it is therefore of great necessity to have a definitive system of identification which is very important for the security and functionality in the blockchain networks. The Usechain Ecosystem is based on Mirror Identity Protocol. This project aims to eliminate the delays and the inadequacies of the blockchain technology and to provide the model balance between scalability, safety, and decentralization.
Usechain is built with high-ranking innovations in its structural and technological design to eliminate setbacks found in the process of developing blockchain and bring a perfect solution to the problems of scalability, security, and privacy. The Usechain ecosystem will hold thousands of credit-based and identity-based applications in the future as is fast developing. This can be integrated by the blockchain technology without compromising or having any privacy or security issues.
Also, Usechain comes as a solution to solve the obstacles encountered in the blockchain technology development processes. Usechain is currently creating blockchain identities that are built on the new technical structure. The platform is supported by Mirror Identity Protocol, as the underlying technical support exploration for the development of Decentralized applications in various fields. Such as in the field of finance, IoT, gaming, entertainment, social management, supply chain management, and so many other areas.
The ecosystem of Usechain grows very fast and introduces many innovations. In the future, it will have thousands of applications that will rely on identification and credit. The creators of the project will implement their token on a platform called UST, which will be the most common. The number of users of the Blockchain project Usechain will grow, and, the cost of UST will also increase. For easy use of the system, the Usechain team will publish an activity report once every three months in order to ensure quality service and transparency of all activities. To the cooperation, people around the world and audit firms are invited to conduct independent audits.
The best employees of Usechain will regularly hold offline meetings for the main investors. The funds raised will be used to develop the project, and to support the use of Usechain.
BENEFITS OF USECHAIN
•Secure framework:- The structure of this ecosysyem is focused, most importantly, on sole character mapping, which enhances the situations requiring clients' distinguishing proof.
•Public interest:- It is intended to address the issues of clients from everywhere throughout the world. The stage bolsters mining even by means of cell phones, as it requires low vitality assets.
•Excellent execution:- Usechain is arranged on the most elevated quality assets as it were. This is the reason it is especially appealing for driving organizations and joins application stages.
•Low Energy Consumption:- Through the stage's typical for identity mapping, it can decrease its dependence on the hashing force of the Bitcoin and in this way have the ability to reduce use of essentialness and enlisting resources.
Usechain is a non-profit organization set up in Singapore. The creators of this project are determined to rapidly develop Usechain, actively supporting the way of transparent management and promoting security and harmony within an open source ecosystem.
Furthermore, making use of its multi-level innovation in structural design and technology, Usechain shows its superiority over the existing public blockchains networks such as Bitcoin, Etherum and even EOS which gives Usechain a leverage to overcome the Impossible Trinity of a new dimension of identity.
In order not to violate the concept of the block chain, Usechain employees are working on a decent management scheme to help common affairs and other privileged issues.
Roadmap
Token
The UST token will be an Ethereum blockchain based (ERC 20) token prior to mainnet launch. The token will be used to provide mining rewards and execute transactions on the blockchain.
ICO Details
Token symbol: UST
Total tokens: 20 billion tokens
ICO supply (private & public): 9 billion tokens
Soft cap: 1350 BTC
Hard cap: 4500 BTC
Price/Conversion rate: 1 BTC = 1000000 UST
Projected crowd sale date: 20th June, 2018
The Project Team
The Usechain development team is mainly from China. It is headed by Henry Cao, a lecturer at the University of California, USA (Berkeley) and a financier with a long record of service. The whole team are experienced blockchain developers.
USEFUL LINKS
Website: https://www.usechain.net/
White Paper: http://www.usechain.net/usechain_en.pdf
Bitcointalk: https://bitcointalk.org/index.php?topic=3432061.0
Facebook: https://www.facebook.com/UsechainFoundation/
Twitter: https://twitter.com/usechain
Github: https://github.com/usechain
Reddit: https://www.reddit.com/user/Usechain
LinkedIn: https://www.linkedin.com/company/usechain/
Medium: https://medium.com/usechain
Telegram group: https://t.me/usechaingroup
Telegram channel: https://t.me/usechain
Author’s Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2234576;sa=showPosts