Can usechain get me there?Yes! Usechain can get you far enough.
First off let's get the basics out of the way, if you've read the Usechain's company whitepaper (linked below) then you have an idea of what exactly the company does and why it's so revolutionary. If you haven't read it though - here's what you need to know in a minute or less, Usechain is the first blockchain platform to use a proprietary technical structure of identity blockchain called mirror identity that will go in part to solve issues with performance and poor scalability all while maintaining everything that blockchain so popular in the first place, security and transparency. The UST will be the company's common circulating token and although they're just utility tokens and can't be used as digital currencies or securities, they will work extremely well to elevate the platforms ecosystem onto new heights.
I know you're thinking all this sounds great but how will it help me build my blockchain powered phone? I'll tell you in a bit.
Certain online exchanges make or assemble blockchains, or consistently developing arrangements of data blocks that go about as a sort of ledger. Rather than putting away data on a central PC, blockchains circulate it over a network of PCs. So on a mobile phone, blockchain can be utilized for an assortment of purposes, from guaranteeing that all meals requested online are genuine to ensuring a doctor prescribed medication isn't fake. People can also keep all their digital currencies on the blockchain phone for shopping and other transactions without ever having to worry about paying transaction fees.
All this sounds great but the blockchain phone does some challenges it needs to address to get there such as slow transaction speeds and difficulty of use. Using Usechain, manufacturers can build upon the provided technology and avoid having to deal with any of these shortcomings.
Here's how we can use Usechain from a cell phone manufactures perspective.
To think of even building a blockchain phone you need money - to get money you need investors.
Crowdfunding - $34 billion dollars has been collected thanks to crowdfunding, with peer to peer lending accounting for more than 70% of that ($25 billion), this means crowdfunding as a legit source of raising money is here to stay. Usechain will make it possible for strangers to crowdfund money in support of the campaign, and because all the information regarding the user is available campaign owners can look up a users transaction history to figure out how to approach them (Are they a high spender or a budget seeker) and because the Usechain is built upon a decentralized platform everything that happens on the platform is credible, transparent and can easily be trusted. Anyone that tries to scam or try to hack their way into the community will get flagged. Usechain scrutinizes user data using identity mapping address which although are tamper proof work really well to build an and transparent system.
Investment - Usechain will also allow users to take advantage of the sometimes volatile but profitable exchange markets by letting users get involved with the passive index fund investment which also happens outperform every other investment. Through Usechain users can create their own distributed fund to cincuct passive investments with and because the platform is self regulated and doesn’t exist on any centralized level, nobody has to worry about paying the high middleman fees.
To design and develop the blockchain phone you need a team of experienced people.
Usechain understands that communities are the key to building honest relationships within a platform, they decide exactly how a platform should be run. By fostering an open and collaboration based ecosystem, contributions and easily and rapidly developed and implemented, which is exactly what you need especially because you're on a budget. You will benefit a lot from the collective efforts of a community. the community members will build themselves up to develop custom dAPPS perfect to be used within your mobile ecosystem all without paying a fortune. Paying experienced developers is too expensive. What's better is that everyone that participates in making the platform better and more useable will be rewarded with tokens. Usechain also allows the dAPP creators to copyright all of their work thanks to blockchain and maintain transparency this action will be broadcasted to the network.
To make a widely accepted phone security needs to be at the top of everyones mind.
Remember when you had to depend on a personalized pin or pattern to get into your phone? That was the epitome of security until motorolla introduced the fingerprint sensor in 2011, it was then that manufacturers started exploring other methods of phone security, so that when the iPhone 5s introduced the first fingerprint sensor, naming it touch-id, fingerprint sensor technology was the new gold standard. Now there are more security measures that have been introduced the face id, iris scanners and on and on, but even though these phones seem pretty secure they aren't foolproof as someone can still easily get into your phone.
By powering a blockchain phone with Usechain’s identity based technology all the user data can seamlessly be relayed between the user's off the chain identify and the current on the chain address to establish a successful connection, not only is this method secure and tamper-proof it also meets all the KYC and AML requirements. This mapping mechanism is great because it makes sure only the mapped data is recorded on the chain and nothing else, preventing every other user data on the chain from being misappropriated and maintaining privacy and security. All this happens really fast too, compared to other blockchain technologies like bitcoin and Ethereum which can only handle 7 transactions and 25 transaction -per second respectively. Usechain is unique because together with other systems, it utilizes a sharding mechanism, called Identity Network Sharding (INS) and Identify Transaction Sharding (ITS) which allows specific address to be verified and transactions to take place all without having to consult with other nodes in the chain as other blockchain technologies, this artistry ensures transactions happen faster and more securely. Thousands transactions per second infact.
Lastly to build a robust ecosystem you need a robust technology.
Usechain wants to combine the best of the biggest worlds, bitcoin and Ethereum while eliminating everything that made these currencies not widely adapted. By using a unique consensus algorithm called the Random Proof of Work, Usechain can use identity mapping in a whole different light. With this random algorithm, the system will eliminate the performance problem by giving every crypto miner the ability to alter the dispersion of virtual cruel power, which can drastically increment the proficiency of transaction affirmation in view of POW and establish the framework for understanding the buyer utilize.
This algorithm also consumes significantly lesser energy. Because of the identity mapping properties, the blockchain system can incredibly lessen the reliance on hashing power and lessen the utilization of computing resources thus reducing energy consumption. Which is great for the environment. Did you know bitcoin mining combines as much power as 155 nations combined! Imagine how much stress this has on the environment. This random algorithm from Usechain can help fix that.
Usechain public sale round one has already ended.
Here's everything you need to know to participate in the offering.
Usechain has twenty billion tokens in existence which will all be distributed inorder of importance. Here's how the tokens will be distributed: a hard cap target of 9 billion tokens or (45%) will be set, if reached the funds will be allocated to company operations; marketing, research and hardware and bandwidth cost, 1.0 billion tokens (5%) will be put into extra marketing efforts and establishing key partnerships in the industry, 20% or 4,000,000,000 will be set aside for the incentives program, with the aim of rewarding the community for their efforts, the last 30% or 6,000,000,000 will distributed equally between the core team (mostly early team members) and to rewarding the technology community. All the allocations will happen in transparent manner thanks to smart contracts.
I’m particularly excited for the launch of the first DApp and the development of both the TPOS consensus algorithm and the software based RPOW consensus algorithm that will all be coming in this third quarter of 2018, you can read more about what Usechain has in store by reading the company's
Whitepaper
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