USECHAIN: BRINGING EFFICCIENCY TO BLOCKCHAIN

cryptoshines (31)in #crypto • 6 years ago

Since 2009, there have been major innovations and development in blockchain technology, With Bitcoin and Ethereum coming into the fold, there have been major innovations as well as ideas coming into the blockchain technology across the world. These new innovations have made the system more autonomous, decentralize and secure. However, even with the introduction of “smart contracts” and decentralized system, there are still a whole lot of deficiency with blockchain technology. There is still the problem of high technical threshold, poor scalability as well as performance inefficiency with blockchain technology. This has made blockchain only limited to cryptocurrencies and exchanges.Even though many attempts have been made to improve it, blockchain technology have not been fully tapped into the mass market like the internet.
Experts believe this is largely because of lack of commercial backing and weak connection with the market. Ultimately, the technology has not been fully tapped into.

USECHAIN: THE GREAT NEWS

Usechain creates a multi-level mechanism between the on-chain with the identity of the verified block chain users. There is no exposure of the identity as per the users; privacy is maintained with the mapping relationship being the only thing recorded on the chain. That is how the authentication process is handled without much exposure of personal information. Also, with the Randomize Proof of Work consensus algorithm, there is a higher level of protection from attacks on the Usechain system. This can achieve high-frequency transactions with the least consumption of energy as well as a level mining environment.
With decentralized and distribute ledger, there is strong ability to resist attacks as well as ease of communication in the system. There is also the reduction of data for the light node clients’ used in the verification and synchronization of data and transaction. This is achieved via the higher-level Merkle Tree BCMT. And when a node has a conflict, the account as well as the block in question will be frozen base on sole identity mapping. While the other node will still continue with the generation of blocks as well as transactions, the nodes that are in conflicts, will be judged by a special committee. This is in addition to the realizations of network sharding using the account address of the user. The transaction of a specific address can be confirmed within the sharding where the address belongs. This helps in erasing the need for confirmation by every node in the network. With this, there is a reduction in the time used in the confirmation of transactions as well as the increase in bearing ability via resistance of multiple spending assaults.

High-performing smart contracts are now being built with the Identify Virtual Machine. Usechain will build intermediate communication layer that will interact with the underlying blockchain to make up for the shortage of Ethereum Virtual machine. Due to the low energy use by Usechain, there is support for mining through mobile phones/devices. The hardware can fit into the public’s daily lives on smart devices, like smart watches, bands among others.

TOKEN DETAILS

Token- UST

Pre ICO Price 1 ETH = 100,000 UST

Price 1 ETH = 75,000 UST

Platform Ethereum

Accepted ETH, BTC

Soft cap 1,350 BTC

Hard cap 4,500 BTC

Country Singapore

CONCLUSION

Although, there are many innovations in the blockchain technology, they have not been able to take care of the myriad of challenges associated with it. However, Usechain has come with more innovations that would ensure decentralization, an adequate security on the part of the users.