Almost half of the world population, especially those that are in reach of internet is aware or must have come across the tremendous news rolling about a new kind of decentralized technology that has brought a seamless improvement to projects, financial assets and businesses. Even as seamless as it seems, the digital currency and bitcoin are facing some challenges in usage, and people doubt if its still the greatest strength of technology has we have read and seen.
All the different generations of blockchain technology are all suffering from obstacles that limits Bitcoin and other cryptocurrencies to have a massive mainstream adoption. In order for the system to prove itself, effective measures need to be taken to erase these obstacles.Network systems, digital communities and web services apparently have a better process on how build and design their projects, since the invention of Bitcoin almost a decade ago, and its blockchain technology that brought about peer to peer transaction. The technology has since then been adopted massively, managed and used in various platforms to exchange value. Bitcoin is now value as a legitimate currency as millions of people across the world now make use of it.
Bitcoin's peer2peer form of electronic payment has made online payment seamless with a transfer of value which has solved most problems, the larger form of blockchain technology with potentials introduced by the Ethereum open software platform now seem beyond bitcoin. Ethereum has opened a world of decentralized unpredictable possibilities which encourages a broader construct of value with more efficiency and transparency.
During these years of improvement, we have seen more developments beyond these two blockchains, but there has been failures in providing solutions to the challenges that blockchain and cryptocurrencies are facing. Usability, mainstream adoption, scalability, limited programing systems, security vulnerability, governance mechanism has tormented the generations blockchain technology. But USECHAIN is here to put an end to these blockchain inefficiencies by making large scale transmission of value easy as transmitting information and the characteristics of blockchain development will not be compromised.
USECHAIN is a decentralized platform based on blockchain technology, with a Mirror Identity Protocol properly integrated with multi-level kind of innovations in technology and structural design, and can be used to break the bottlenecks in the development process of the blockchain. The project uses a completely new mechanism for consensus randomized proof of work (RPOW) which gives the platform a high degree of protection and huge productivity.
USECHAIN technique to meet up with speed, cost and scale required by various applications is the Randomized Proof of Work consensus mechanism (RPOW), which is capable of resisting attacks with the synergistic form of communication through decentralized and distributed ledger combinations. The use of Randomized Proof of Work for mining help speed up the rate of transactions because of the system's secure algorithms, high performance and being prone to different attacks.
The USECHAIN Identity Virtual Machine (IVM) will set a new level where Smart Contracts with high performances can be created with a whole lot of adaptations. For a perfect interaction of IVM with the present blockchain APIs and subchains, USECHAIN will create an improved intermediate communication layer. Based on the nature of the intermediate communication layer, IVMs can also be directly connected, in order to cover up for inefficiency of the Ethereum virtual machine and build a better kind of Smart Contracts which can be convenient, efficient and also serve external purposes.
- KaZaA p2p protocol
- Identity Network Sharding (INS)
- Identity Transaction Sharding (ITS)
These strategies of Network sharding technology will be used by USECHAIN to speedup transaction confirmations and also reduce bearing capacity for the resistance of double spending and transfer attacks. These activities depends on the condition of the account of a user, as node confirmations will be replaced with the sharding of a specific transaction address.
The USECHAIN network will support uncountable Decentralized Applications that will contain billions of users with a well managed transaction efficiency for high performance ans scalability of blockchain technology.
For a well established identity base, USECHAIN will utilize on-chain addresses in connection of the of-chain form of identity to create a tangible KYC and AML requirement for users to broadly adopt daily consumption, loans, insurance and other services.
USECHAIN creates a low technical barrier with the continuous use of Smart Contracts for a flexible application protocol and promotion in accessing a user-friendly interface for existing internet technologies and low cost and low risk docking mode for mature technologies.
Conclusion:
USECHAIN is using its multiple features for the integration of blockchain technology, all existing blockchain projects will be modernized as USECHAIN will fix all the challenges faced in this area of technology. The project also has a set of experienced team members which I will be discussing about, in my next article. Lets all await the developed, first mirror identity blockchain ecosystem.
USECHAIN Useful Link:
Website: http://www.usechain.net/
Telegram: https://t.me/usechaingroup
Twitter: https://twitter.com/usechain
Facebook: https://www.facebook.com/UsechainFoundation
WhitePaper: http://www.usechain.net/usechain_en.pdf
Written by telegram user:
Bitcointalk Username: xpency
Bitcointalk Url: https://bitcointalk.org/index.php?action=profile;u=1800192
