The cryptocurrency industry to many people seem like a get rich quick scheme as it is believed that upon investment, returns of large profit is earned and this is because of the testimonies given by several people from the use of bitcoin which was d first successful blockchain project. Ever since then, many other projects such as Ethereum, bitpay etc. have come up featuring different applications and usage of blockschain which has in turn brought in huge revenue for the industry.
As lucrative and profitable as blockchain projects are, they have not been widely accepted by the masses because there are several challenges on ground which increases the risk involved in their usage and in turn makes it unacceptable by many people. Problems such as security as it is no news that several projects have been hacked and user’s funds were carted away, slow performance and which is bad for trading as transactions becomes stiff and tedious, technical barrier which makes it hard for users that are beginners to enjoy using blockchain technology.

If the full potential of the blockchain industry is to be realized, then these problems have to be alienated which is exactly why the Usechain project was created so that the blockchain technology can be applied to various human activities, securely, quickly and cheaply which will encourage mass adoption.

What is Usechain?

This is blockchain project designed to upgrade the level of the current blockchain industry through the introduction of a new principle of consensus, involuntary evidence of work, mirror identity, and advanced smart contract all for the purpose of increasing work efficiency, productivity and security of the blockchain industry.

To make this goal of the Usechain project come to fulfillment, it has kept in place the presence of some functional parts and indicators of this project and they are:

Identity virtual machine

This is kept in place for the development of advanced smart contracts with an intermediate layer so that its functions can be integrated with the present blockchain technology and to also increase the situations scenario where smart contracts can be applied.

RPOW Consensus Mechanism

This is a new and improved algorithm developed by this platform so that the platform can be able to perform transactions quickly and efficiently than the other consensus mechanism while also creating an avenue where mining is made fair with little energy consumption. All of which is made possible through the Trusted Execution Environments built by hardware.

Multi-level Authentication Mechanism

This is a feature kept in place to ensure that users privacy are secure and authentic through the use of mapping recorded on the chain so as to check if the address of users and their identity corresponds. This is done through the help of cryptography offered by blockchain technology.
Usechain makes use of UST as the token or cryptocurrency of this platform and is designed on the ERC-20 standard which is used for performing payment related transactions on the platform.

It provides to the users increased performance and security which makes it possible for users to carry out multiple transactions quickly and efficiently without the worry of security threats.
Because it is identity based, users are able to adopt the use of blockchain generally into their everyday activities such as in insurance, loans, etc.

Decrease in technicalities offered by this platform help users to connect with ease to internet related technologies all through a simple interface.
In conclusion, the Usechain platform is the right platform to be for users who want to enjoy increased scalability, performance, and security all of which is offered at a reduced price.

Relevant Links

Website: http://www.usechain.net/

Whitepaper: http://www.usechain.net/usechain_en.pdf

Bitcointalk thread: https://bitcointalk.org/index.php?topic=3432061.0

Telegram:https://t.me/usechaingroup

Twitter: https://twitter.com/usechain

Authors information
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