The mirror Identity Blockchain and the edge of usecoin over other crypto-currecy
The innovation of digital world has been in existence for quit a number of days now. This innovation is made possible through the technique of blockchain. The formation of a common digital currency (crypto) through the technique of blockchain have been in use, in several decades. The formation of Ethereum, bitcoin, lithcoin, and several other crypto-currecy has introduced the world to a new concept which includes; currecy that is not centralized but rather decentralized and contracts that are smart. This blockchain introduced operation has made the world more safe and ensure self dependency. Though this blockchain has gotten advancement and accepted in few countries, it has been faced with low efficient performance, scalability that is extremely poor, and huge threshold of approach have been the limitations of this technique of blockchain introduction. Although some projects of blockchain had made contribution so as to enhance the technique but blockchain is yet to gain acceptability in most of the nations of the the world compared to the rate of acceptance of the internet. All this factors put together make this digital currency that is crypto tools look like a laundry of money, raising fund in an illegal way, and some other activities which are criminal and not legal.
The part played by identity in an identity blockchain.
The real or major address will be the main account of the user, that is formed as a result of wallet generation by the user. All users possess just one major address which has a one to one link with there identity. The major address make use of curve known as elliptical curve for the generation of the general and the personal key, and also make use of the general key in the generation of address. The major address and the subordinate address needs to be verified before transaction can fully take place. The subordinate address does not have limitation in its number and this subordinate address shall be formed based on the need of the users, by the usage of the major account of the general key and this subordinate account is as well kept differently from the users major address. So, the relationship of dependency that exist between the major address and the subordinate address are of no significant. In the application of higher level, the need for the verification of one's name is the utmost priority of the identification of chain address. The verified name will be kept by the identification chain and also make a construction of all the entity's verified to be real major address by a multiple agency of the third party which is tested and trusted publicly. The process will follow suit;
The first activity of the user is that he or she applies to get the agencies of the third party CA certificate. Then the third party will verify it then gave the certificate back to the user. This procedure will only take place once.
There after, the user will be able to prove that they have gotten the verification to block chain by applying the proof of zero knowledge. The address that the user generates is going to be documented by the smart contract of blockchain thereby becoming the only major address of the user. The information about the user identity is not not displayed on the major account. The identity information is thereby confidential.
The general and personal key can now be use by the user and General Keys that are randomly chosen on blockchain for the application of committee for another address which is secondary authentication address by the strategy of ring signature.
At any point of transaction, the transaction is verified to be valid. So as to prevent fraudulent transactions.
The final process is;
The committee will scan the network for relevancy of account if any fraud is suspected.
The mirror identity public blockchain strength
Considering the previously existed techniques in blockchain, the number one blockchain built publicly on the mirror identity protocol is usechain. It is also integrated along side innovations that are technicality and design structure. There fore usechain is an experienced technology in block-chain.
Usechain built a system of identity blockchain using new structure that are technical.
Usechain have made available Dapps that are used widely and as will provided support that are technical for the exploration of applications in finance, entertainment, management of supply chain, consumption, networking which are social, and other fields.
We also ensure that we add value the more to identity by permitting persons to stay connected to usecoin financial service that is made available through wallstreet which comes with ease, conveniently and instantly.
For more Info, Kindly visit;
Website: https://www.usechain.net
Whitepaper: https://www.usechain.net/usechain_en.pdf
Medium: https://medium.com/@usechain/
Twitter: https://twitter.com/usechain
Facebook: https://www.facebook.com/UsechainFoundation/
Telegram: https://t.me/usechaingroup
Author: Lyndieline
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=211087