USECHAIN: NEXT GENERATION BLOCKCHAIN

cryptoboss12 (40)in #usechain • 6 years ago (edited)

The blockchain industry and applications although not yet an household name is gaining popularity day after day and this is because it has been successfully integrated in various sectors in the society such as banking, energy, agriculture etc. this shows that the potential of blockchain is limitless and can be very rewarding when invested into.

All these diverse applications of blockchain occur as a result of decentralization of the platform to balance all transactions taking place and create a leveled ecosystem. However most blockchain projects available around are not decentralized enough, which means that security won’t be as tight as it ought to be, transactions will be slower, lack of adequate scalabilitywill occur, which in turn reduces the reliance of the blockchain industry.
While several projects use the Ethereum blockchain as an aid to facilitate decentralization, it is usually not enough as the ecosystem will not be balanced and the load might be heavier on beginners while lower on experts and vice versa which in a way some form of centralization has occurred.

To counter these issues, USECHAIN was created and it proposes to do so by creating its own consensus mechanism which will be used for decentralization , scalability and security.

What is USECHAIN?

This is a blockchain platform that created the first mirror identity system on a solid technological foundation of a new consensus mechanism, identity virtual machines and other infrastructures of the existing blockchain to take the blockchain to another level entirely.
This platform created with the aim of taking blockchain technology a step higher intend to do so by linking the platform with various technical communities, and gain resources from top business schools with the aim of creating applications that are identity generated that can benefiting users who want to verify asset identity,application participants thst wants to verify the identity of users under them and technology participants who are responsible for the backbone infrastructure of the platform.

Features of USECHAIN

To elevate the problems facing the blockchain industry, USECHAIN has kept in place certain features such as:

✔️Multi-level Authentication Mechanism
This system is designed in such a way that all transactions occurring on the platform can be traced back to their owners to establish the identity of the users that are authentic.

✔️RPOW Consensus Mechanism
This is known as Randomized Proof of Work and is intended by the platform to increase the level of decentralization in the platform as mining of blocks is done in a random rather than fixed pattern which will limit hackings, while making sure that both beginners and experts mine in a balanced state with mining being easier for beginners than experts.

✔️High security using application software
Security is increased because of the use of the Randomized Proof of Work consensus algorithm as centralization is reduced to a large extent which is a trouble to hackers as hacking becomes more difficult which in turn puts the mind of the users at rest.

✔️Own information identification system
This is to get the identity of the user while securing the personal information gotten to the services offered to the user.

✔️Network Sharding Technology
This technology is enabled by the KaZaA P2P protocol that makes network sharding possible on this platform. Once this occurs, search performance of the platform is increased as a result of low index size and since the network shard can be attached to separate hardware, it makes distribution of information to be possible over a wide range of devices.

✔️Identity virtual machine
This is built by this platform to help in the creation of smart contracts that can execute orders efficiently while also removing a the disadvantages associated with using Ethereum blockchain smart contracts.

Token Feature

To maintain and boost the economy of this platform, the USECHAIN TOKEN is employed which is symbolized as UST and built on the Ethereum blockchain and will be used for various transactions on the platform as well as in rewarding members of the platform. Once the value of the token is increased and has circulated widely, the Ethereum based UST will be converted to UST coins.

Benefits of USECHAIN

The use of USECHAIN platform reduces to a large extent incidences of hackings as security is very much tighter as application software have been employed and also visual identification of users.

It encourages transactions regarding trust such as sharing of resources as all these transactions and behavioural pattern of users are made transparent for all to see.

With the use of its consensus algorithm, performance of the platform is better as transactions occur faster and there is increase in scalability.

In conclusion, USECHAIN is advancing blockchain to another level where the bottle neck of low decentralization is removed and this leads to increase in security, performance and scalability of blockchain industry.