Blockchain technology is a transparent and trusted decentralized digital ledger which is resistant to change. This technology is associated with creative ideas such as decentralized cryptocurrency and smart contracts. This technology has increased the security architecture, reduced costs, improved time efficiency and reduced errors to the nearest minimum for the society and various industries. With its immutable public ledger that records digital transactions, coupled with other powerful utilities, the blockchain technology had been able to garner huge patronage from various companies, industries and government agencies who use its ( Blockchain technology) potentials to develop a variety of solutions for their operations.
Issues Associated with Blockchain Technology
However, this emerging technology is being confronted with a setback like a centralized identity management system. With most blockchain networks like Ethereum and bitcoin operating on this form of centralized identity, individuals on these blockchain networks have minimal control over their data/information, which serves as a fertile ground for illegal activities such as money laundering, drug trafficking, and smuggling. This centralized identity management exist as a result of the non-association of the on-chain cryptocurrency address to the real identity off-chain.
Furthermore, the slow transaction of existing blockchain network is a very big obstacle hindering its acceptance/adoption for so many people. Blockchain networks like Ethereum and bitcoin carry out between 7-25 transactions per 24hours which is very low when compared to other non-blockchain transaction networks like VISA.
In addition, it's very cumbersome to developed decentralized apps that can be integrated into the existing blockchain technology. The public blockchain technology that makes this blockchain-decentralized apps integration possible is still a subject to some technological developmental complexities hence leading to difficulties to the more public adoption of this technology (blockchain).
INTRODUCTION TO USECHAIN
USECHAIN is a creative blockchain solution built on the mirror identity protocol alongside high-end technological solutions to remove the delays present in the process of developing blockchain and bringing a balance in scale, security and decentralization. USECHAIN will improve the efficiency of transaction verification to meet structural requirements for mass-market applications, reduce deployment cost of smart contracts and enhance the flexibility and usability of them.
Best Features
- High Security Level: Its Proof of Work random algorithm and intellectual property rights reduce the centralization degree of harshing power which ensures the security and unbiasedness of the network.
- High Performance: The efficiency of transaction confirmation is increased through a random algorithm which enables miners to adjust the distribution of virtual harsh power.
- Low Energy Consumption: By employing the features of identity mapping, there is a reduction in the consumption of computing and energy resources on the blockchain network.
- Public Participation: USECHAIN encourages public participation by supporting mining through mobile devices due to low energy and resource consumption on the platform.
UST TOKEN
This is an ERC-20 standard based token which be used on the platform for remittance purpose. This token will be used to reward community developers and supporters as well as supporting the platform and allowing participants to use the decentralized applications.
TOKEN SALE DETAILS
Start date: 20 June, 2018
Ticker: UST
Token type: ERC20
Fundraising Goal: 29,200,000 USD (4,500 BTC)
Total supply: 20,000,000,000
Available for Token Sale: 45%
Whitelist: YES
Know Your Customer (KYC): YES
Accepts: ETH, BTC
Team
In order for a project to achieve its aim, the team behind it must be up to the task, the team pushing the COTI project forward has all it takes to achieve their objectives. The partners incorporate blockchain specialists, crypto lovers and different technocrats who have faith in the ability of blockchain.
Conclusion
Smart investors are always looking for projects with great potentials to invest in, this is one rare project with a real-life use_ case, the project is huge and has great potentials. The team is up and doing. With the level of engagement and progress, the team has achieved so far, I believe they will deliver.
For more information, visit the following:
Website: https://www.usechain.net/
Whitepaper: https://www.usechain.net/usechain_en.pdf
Telegram: https://t.me/usechaingroup
Twitter: https://twitter.com/usechain
My bitcointalk profile link:
https://bitcointalk.org/index.php?action=profile;u=1708600;sa=summary
my bitcointalk username: sparklins4u