IMPORTANCE OF IDENTITY TO BLOCKCHAIN AND THE STRENGHTS OF MIRROR BLOCKCHAIN TECHNOLOGY

skillz001 (25)in #blockchain • 6 years ago (edited)

When one has an identity,he or she has a quality that makes them who they are . Different people have different identities and this identities brings lots of advantages, an example of an advantage is TRUST. The blockchain is no different, am sure you all feel better when you make trades with someone you are conversant with right? This is why the usechain project came into existence, the project aims to revolutionize the blockchain technology by integrating it with identity . This feat is achieved with their mirror identity blockchain technology.

The blockchain as at now faces certain challenges due to lack of identity and this issues include:-

Increased crime rates
Lots of companies are not ready to take up blockchain technology because it lacks the level of identity they need
Huge level of anonymity

This issues are faced by the blockchain because of lack of identity, Now let's look at the benefits of the blockchain when integrated with identity

It ensures the entire blockchain ecosystem gains more adoption
The level of trust between business partners transacting with one another will be high
Companies will have the required level of identity needed to work with blockchain technology .
Due to the fact that the usechain blockchain is identity based,the level of security onchain will be high .
Lots of onchain crimes such as money -laundry , drug trafficking will be reduced to the nearest minimum.
The blockchain transparency level will be increased a lot.

To be able to meet up with all the goodies based on identity mentioned above, the need for the usechain platform is inevitable . As the level of technology needed to integrate identity with the blockchain and still keep the privacy of users can only be obtained through Usechain's mirror Identity blockchain

WHAT IS USECHAIN? AND HOW DOES IT WORK WITH IDENTITY?

Usechains is the first blockchain platform that brings the mirror identity technology to the lam light . The platform also has providion for users to get conversant with a wide range of decentralized identity based applications.

STRENGTHS OF MIRROR IDENTITY BLOCKCHAIN

Usechains Identity checks :- The usechain project provides it's users with address mapping technology, where onchain addresses are linked to offchain identities .Though it has be noted that the platform doesn't release the offchain identity to the public. This offchain identities are only used in mapping addresses.
Level of Anonymity is reduced but still present :- The usechain platform ensures that all its users have an identity. When you have an identity, your address is mapped, which means you are a verified user . This means the user is anonymous, but the level of anonymity is reduced because the platform has done the work of verifying the user through its mapping technology . One can easily say the usechain platform brings identity in anonymity .

The Usechain Mirror Identity Blockchain Comprises mainly of:-

Network Sharding technology
Multi-level authentication mechanism
New gen RPOW consensus Algorithm
Usechain's Identity Virtual Machine
Light node client
Online Fault Tolerance.

Network sharding technology :- This section of the usechain platform brings about the provision of more identity blockchain, to make this a reality, two protocols are observed and utilized, namely identity network sharing and identity transactions sharding . Sharding on its own brings faster confirmations, this is because transactions of addresses are verified in the particular sharding a user falls in.

Multi-level authentication mechanism:- This section of the mirror identity is based on multi-level authentication of onchain addresses and offchain identity of onchain verified users . The usechain platform ensures that that all users data are kept private, the only information revealed is mapping of addresses.
New Generation RPOW Consensus Algorithm:- This algorithm is peculiar to the usechain platform, as it was created by the platform to outperform other consensus mechanisms

BENEFITS OF RANDOMIZED PROOF OF WORK MECHANISM

i)When it comes to power consumption, Rpow consumes far lesser power when compared to regular POW

ii)The randomized proof of work is more versatile than other consensus algorithms out there

iii)Some mechanisms run a centralized pattern of function, but RPOW doesn't, it runs a decentralized pattern

iv)The RPOW is more secure than other consensus mechanisms

v)The RPOW performance is higher than other consensus mechanisms

vi)It aids usechain's address mapping .

Usechain's Identity Virtual Machine:- This machine was created by the usechain platform so as to build high tech smart contracts
Light node Clients :- This section helps in verification of transactions and transactions processing. The amount if data required to verify a transaction is reduced with this tool .
Online Fault Tolerance:- Nodes perform well, but at times this nodes face challenges such as forks, when this happens the accounts with issues and blocks are frozen on the identity mapping . On the other hand other blocks will continue their functions as normal. Disputes are later judges by the board committee.

For more information concerning the usechain project, feel free to visit this links below

Writer's information

Writer's name :- Skillz

Bitcointalk profile username:- kosystan001

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