INTRODUCTION
Since the advent of the blockchain technology, the industry has seen considerable growth and development in leaps and bounds and this can be accredited mainly to the innovative ideas that are constantly being injected into the sector. The blockchain technology has evolved over time, with carious platforms such as the Bitcoin and the Ethereum introducing various attractive and interesting features atop their respective platforms. Innovations such as incorporating the smart contract system has helped introduce autonomy to the way in which blockchain deals are carried out on the chain. But in all, the decentralization approach has been more instrumental in the astronomical leap of the industry. Decentralization is seen as a disruptive approach to the industry and is seen as the most viable tool to upset the otherwise erstwhile faulty centralization system that we currently have in place in various forms today.
Randomized Proof of Work
Usechain uses updated technology and highly rated algorithms to create a high frequency mechanism for verification. A decentralization technique is employed in combination with a distributed ledger that provides a communication based on strong synergy that is fully capable of resisting various fors of attacks. It is interesting to note that despite the high performance of this mechanism, it consumes far lower energy and condoles a favourable environment for mining.
Sharding of Network
Usechain chooses to introduce a new protocol called the KaZaA P2P protocol that encourages the sharding of network identity as well as transaction identity sharding. Addresses can be hidden within shardings and hence when specific transactions are to be traced, their shardings can be reached and the respective addresses retrieved from such sharding. With this technique, there would be absolutely no need for transaction confirmation to take place on all nodes that are within the network. This has been known to be quite cumbersome and doubles time needed to carry out transactions. Thus, transaction confirmation time is greatly reduced.
Smart Contract Creation
Usechain incorporates a new technique that’s being used in creating smart contracts. This is the new standard called Identity Virtual Machine (IVM) and carries with it some really innovative adaptations. The IVM technique employs a protocol which utilizes several layers of communication through which interaction is carried out. These interactions are usually between the underlying blockchain, external Application Program Interfaces as well as respective sub chains in the block.
Team and Advisors
The team involved in this project happen to be an array of brilliant minds who are extremely experienced in the blockchain industry. They have sat down and polled together all their years of experience and thorough research. The result is obvious in the ingenuity of this product.
Conclusion
It is evident that for the blockchain to move to a whole new level, it needs to acquire some new level of potential. The Mirror of Identity Protocol appears to be the spark to take the industry to that new pedestal. Usechain being the very first platform to incorporate this technique would thus be the ideal tool for this machination. Usechain is the future of the blockchain technology.
For more details and information about Usechain, please visit the following links;
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
Published by; bobbyjay
Bitcointalk link: https://bitcointalk.org/index.php?action=profile;u=1797812;sa=forumProfile