Usechain Consensus Algorithm - First Mirror Identity Blockchain System

BLOCKCHAIN HISTORY

Since it's announcements in 2008, the blockchain technology has quickly been integrated and identified as the future of peer-to-peer interactions and transactions.
The qualities of security, coupled with its decentralized nature has garnered more popularity and hastened its adoption.
With different blockchain platforms emerging, to take advantage of this unique technology. And further, explore its possible applications.
So far the blockchain technology has been limited solely to the circulation of cryptocurrencies.
The current platforms such as Ethereum, Bitcoin, Stella, EOS, Hydrachain, has not been able to fully utilize the potential of the technology.

THE LIMITATIONS

• Low Transaction Capabilities: The current system, is limited in the number of transactions that can be completed per second.

• High Computing demands: power consumption has limited the integration of the blockchain industry.

• Anonymous Ecosystem: Peer-to-peer transactions are made over addresses with no profile and no link to actual individuals.

• High Technical Difficulties : Currently, it’s still difficult to build mainstream decentralized
  applications that can be accessible and easily delegated
  on existing
  blockchain platforms.

USECHAIN MODEL

Usechain is geared at developing the first mirror blockchain ecosystem, integrated with high-tech innovations in technologies and structural pattern, to scale the barriers of the current blockchain protocol and take it mainstream.

Utilizing state-of-the-art innovations, Usechain can satisfy the impossible Trinity from the new dimension of identity and achieve a perfect symmetry between; scale, security and decentralization.

Usechain will operate with recognized and established industries and institutions to provide the commercial and academic resources for the rapid adoption of the new technology by attracting users to the Usechain ecosystem.

THE IDEA
To hasten the adoption and utilization of the block ledger system. The current blockchain system has to be revamped and improved upon, so as to provide an efficient transaction system to support the millions of Dapps and cater for the ever increasing number of users.
Also there has to be a connection between on chain addresses and off chain personalities.
This would eliminate the anonymity involved in the blockchain sector while protecting the personal information of users.
Usechain would leverage on the current technology to provide a seamless and accessible protocol system. Ensuring the improvement and optimization of the smart contract.

TECHNOLOGY FRAMEWORK

Usechain would make major improvements in the blockchain system to counter issues such as low capacity and slow speed of transactions and lost resources in mining.

Usechain has designed the brand new RPOW (Randomized Proof of Work) and RPOS (Randomized Proof of Stake). These makes up the consensus algorithm. To enhance the confirmation of transactions as well as support high transaction load while still retaining the quality of total decentralization of the blockchain.

RPOW: The bitcoin blockchain model uses the POW algorithm, where miners compete to solve computation problems. To be conferred the right to the accounting work.
This leads to wastage, as the process is energy consuming.
Another example is the EOS consensus algorithm. Delegated Proof Of Work (DPOF).
Here every token holder on the blockchain is entitled to vote to select credible parties to confirm transactions and create blocks. In order to achieve consensus expediently.
Usechain combines the different technologies from existing blockchain systems and puts forth the most practical consensus algorithm yet, the RPOW.
This algorithm is built on a randomized system, where every miner is delegated with a certain task corresponding to their degree of computing power. This creates an impartial ecosystem where anyone can earn the accounting work. This would improve the efficiency of transaction validation as well as reducing the centralization degree of hashing power. And also reducing wastage resulting from competition between nodes. This would also allow low device to support mining services. Increasing public participation and further grow the community.

TOKEN DETAILS
Usechain will reward
community developers and supporters with it's official token, UST.
It would also support the
ecosystem and allow all participants to utilize the decentralised
applications.

TOKEN SALE DETAILS

UseChain UST Token ICO Details

Token symbol: UST

Token sale date: 05/06/2018- 06/16/2018

Accepted payment method: BTC and ETH

Total token supply: 20000000000

ICO: 9000000000

● Volume: 20,000,000,000 UST

● Finite amount of UST created

● No inflation

● Maximum token amount for sale: 45%

● Marketing & Partner Support: 5% (with bounty comprising 6%)

● Community Rewards: 20%

● Technical Community Rewards: 15%

● Core Team: 15%

● Softcap: 1350 BTC

● Hardcap: 4500 BTC

●Accepted currencies: Ethereum, Bitcoin

THE CORE TEAM:
The Usechain team comprises of experienced and credible experts in the various fields;

Henry CAO: Founder, President an CEO.

Baohung Sun - Cofounder and CMO

Shengli Zhang - Chief Scientist.

Feng Zhang - Senior Financial Specialist

Eric Xu - COO

Andy Zhou - CTO

Lin Zhao - CPO

Amanda Shen - PR Manager

Lucas Lu - Senior Advisor

Yin Cao - Senior Advisor

Shangjei Wei - Senior Advisor

Qein Wa - Senior Advisor

Allen Yan - Senior Advisor

Project Links -
Website：https://www.usechain.net/

White Paper: http://www.usechain.net/usechain_en.pdf

Facebook：https://www.facebook.com/UsechainFoundation/

Twitter：https://twitter.com/usechain

Reddit：https://www.reddit.com/user/Usechain

Medium: https://medium.com/usechain

Telegram group: https://t.me/usechaingroup