A careful review of the impact of blockchain between 2009 till today has shown that there is a great possibility in this innovation. Today, Life has become really easier in terms of transactions and handling of tangible and intangible assets. However, despite this great stride, there are so many shortcomings attached to this innovation. The policy of anonymity adopted by the blockchain network encourages fraud, money laundering, and other criminal activities. Apart from this appalling issue, the existing blockchain network has a record of poor scalability. Its speed of processing transaction is not worth the attention.
USECHAIN
Usechain was built around the policy of transparency and expansion of the adoption of blockchain by major industries and businesses. In a bid to ensure KYC and AML measures are not violated on its platform, the usechain is designed to map every address on its chain to real users. To achieve this task, the usechain is made up of two basic parts, they are the base level chain and upper-level ecological applications. With this development, usechain foresee a wider application of its network in social media, commercial promo, credit agencies and other fields as needs are. Furthermore, to address the issue inherent in the existing blockchain network, usechain adopts four major innovations in its network. They are network shrading, virtual machine, consensus mechanism and light nodes. These four work together to end the waste of resources during mining and speed up the rate of per seconds transaction. Unlike existing blockchain, whose design is fraught with the model of assigning all node to perform a transaction on the same network at the same time, hence, resulting to network congestion. However, the usechain processes transactions in the different network allowing for a speedy transaction and processing
The identity chain
The identity chain is also known as mirror identity blockchain. It was designed with the aim of confirming users identity and expanding the application of smart contract. The identity chain network houses all users account addresses. In the mirror identity chain ecosystem, decentralized application developers have the opportunity to integrate their subchains and work with
other sub-chains, hence actualizing the realization of identity chain being able to be applied to different scenarios.
SUBCHAIN
Another feature included in the usechain to end the problem of network jam and poor performance in terms of the transaction is the subchain- a block created from the main chain. Unlike existing system, In a bid to improve the ability of the usechain to carry out simultaneous transaction activities for about millions of users at the same time, the main chain renders the subchain with an ability to be flexible in meeting the needs of all users. It can define its own consensus method, block size & time, and other necessary functionality modules
INTEGRATING BUSINESS MODELS
To allow for a wide application of blockchain technology, the usechain has basically four design layers. They include data layer, smart contract layer, network layer, the consensus layer. Each layer is designed to specifically meet some certain applications needs. The combination of all these layers on a single network- usechain opens for a wild application in major business scenarios
The functionality of the usechain deign layers
Each of the four usechain design layers has its own basic function. The duty of the network layer is to the network transaction speed and its underlying capacity. To achieve this task, the network layer work s together with KaZaA P2P Protocol, the INS (Identity Network
Sharding) and ITS (Identity Transaction Sharding). To eliminate the problem faced by existing blockchain in confirming a transaction. The usechain data layer makes use of a light node to achieve this feat. More so, with the light node, it is possible to integrate internet and mobile devices into the blockchain system. The consensus layer is empowered with the ability to ensure security in the network and also reduce the waste of resources. The smart contract layer remodifies the existing mechanism of smart contract. It is specially designed to assist enterprises using smart contract
ADDRESSING FRAUDULENT ACTIVITIES
Although the usechain network does not carry user’s information. There are certain measures on the ground to address the issue of fraudulent activities, piracy, and activities of mischievous miners. Once a consensus has been established by more than 50% of members of the usechain ecosystem, the suspect fund will be frozen and the identity of the criminal will be exposed
The team
Website: https://www.usechain.net
Whitepaper:https://www.usechain.net/usechain_en.pdf
Blog: https://medium.com/@usechain/
Twitter: https://twitter.com/usechain
Facebook:https://www.facebook.com/UsechainFoundation/
Telegram: https://t.me/usechaingroup