Project Introduction
The Blockchain technology has grown immensely since its invention and quite frankly this growth has been stalling in recent times because with a technology like the Blockchain that is gaining note attention daily from the world, in order for it to be considered widely usable, it needs to check all the right boxes.
Bitcoin has the first Blockchain ever with its Blockchain 1.0 which is fully decentralized, highly secure but with a very slow transaction speed. This transaction speed problem has become more glaring with the recent inflow of more people into the crypto space and increase in the circulating supply of bitcoins. However even if it is possible to make and receive payments anonymously without any government interference, no one likes to wait for minutes or hours before the confirmation of their payments.
Ethereum and EOS are the second generation Blockchain also known as Blockchain 2.0 which solves some of the problems of the first generation blockchains but also with their own problems. Ethereum operates on a more secure Blockchain than that of bitcoin and has an higher transaction speed, but a speed of 25 TPS is simply not fast enough in a fully decentralized world. EOS on the other hand brings a much needed scalability to the Blockchain technology with its blockchain capable of attaining thousands of transactions per second but it is not fully decentralized and a lot less secured when compared to the others.
The Blockchain technology and crypto space needs a Blockchain that checks all the boxes of full decentralization, high transaction speed, without compromising security and for the crypto space to be safer for everyone involved, there also has to be a connection between people and their on-chain activities, in order to reduce crime and attain mass adoption. However there Care still technical needs that the Blockchain has to meet in making the space more user friendly.
Usechain is the answer to all this.
USECHAIN
Usechain is building a much needed blockchain 3.0 which is fully decentralized, highly scalable, has the highest security, solving together on one platform the problems of Blockchain 1.0 & 2.0. That is not all however, usechain goes further by introducing a real identity system which is something that has been missing on a lot of Blockchain projects.
The Internet has been able to come this far in providing everyday consumer usage through user data and the ability to relate online activities to physical human identities, nevertheless, the Internet does not excel in the areas of user security which is one of the areas where the blockchain excels.
Usechain is now introducing a Blockchain ecosystem that solves the blockchain's problems but also with a mass consumer market usability. With usechain a lot of on chain innovation, decentralized applications and platforms requiring identity can now be created. The platform is not a finished product though, as this is an ecosystem that continues to grow and develop with the activities of the people all over the world which generates very good usable data, thus creating an ecosystem that is secure, transparent and can be used in delivery of real Blockchain solutions to real life problems in sectors like e-commerce, banking, insurance etc.
Usechain Ecosystem
"There are three main actors in the Usechain ecosystem, namely; The Users, Application Participants and Technology Participants" - Whitepaper
Users: The users on the usechain platform as the name implies are those who makes use of the platform or the purpose of identity verification is other uses. This users can be a person, group of people, a business, devices or gadgets and many more. This users are responsible for contributinh the behavioral data which grows the ecosystem. The users are rewarded with the platform's native tokens.
The Application participants and technology participants are also very important actors of the usechain ecosystem as they play a key role in the endorsement of identity verification as well as the development of the ecosystem respectively. Kindly read the official project whitepaper to learn more about their roles on the platform.
Under The Hood
Beneath the hood of every car is the engine responsible for given the car life and power. For decentralized projects that engine is likened to its consensus mechanism.
Usechain platform is powered by the Randomized Proof of Work (RPOW) consencus algorithm. This algorithm has advantages over that of Ethereum/BTC (POW) and EOS (DPOS). Some of the advantages includes;
- Lower Power Consumption
- High Frequency Transaction Verification
- Easier To Mine
Usechain is a blockchain revolution and this platform is capable of transforming the decentralized space as cryptocurrencies and blockchain technology approaches mass adoption. Kindly click the links below to visit the project's official website, and social media communities to learn more about the platform.
Official Contacts
Website: https://www.usechain.net/
Whitepaper: https://www.usechain.net/usechain_en.pdf
Telegram: https://t.me/usechaingroup
Technical Whitepaper: https://www.usechain.net/usechain_tech_en.pdf
GitHub: https://github.com/
Twitter: https://twitter.com/usechain
Facebook: https://www.facebook.com/UsechainFoundation/
Medium: https://medium.com/@usechain/
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