USECHAIN – THE FIRST MIRROR IDENTITY BLOCKCHAIN

  13/06/2018

About the project

Usechain is a blockchain platform that creates an application for identifying a person and binding it to specific services: crypto-currency wallets, service applications, for insurance or in lending, the banking sector, etc. In addition, the platform will allow for effective mining, realisation high-speed crypto-currency transactions.

 

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Platform

This platform is created on a high-performance, user-friendly basis. In this case, Usechain will properly provide the binding of the person (its data), for example, to a purse with crypto-currencies. Naturally, proper imitation and identification will allow the introduction of appropriate safety standards for business and investment. It should be noted that Usechain can be applied in a variety of resources, where you want to bind a specific block of personal content to the individual. Usechain will provide reliable protection to this information.

Usechain described its work as "identification based on mirror identity."

The Usechain platform is built with a focus on mass use.

Why Usechain differs from other blockchain?

As you all know Bitcoin is known for its Blockchain 1.0 technology, Ethereum was later developed by Vitalik in conjunction with a smart contract known as Blockchain 2.0. And recently, a currency is very interested in by the community, known for its blockchain 3.0 technology and able to reach 10,000 transactions per second – EOS. What difference does Usechain have?

  • First, the blockchain of Ethereum and Bitcoin uses the POW (Proof Of Work) mechanism, which uses electrical and computer energy to solve algorithms, math equations for digging coin. This gave birth to the coin digging machines that used tremendous amounts of electrical energy globally and affected the environment. EOS uses a Delegated Proof Of Stake (DPOS) mechanism, đThis is consensus mechanism in form of vote-by-vote, next people will be responsible for confirming the transaction and maintain blockchain. DPOS was born to solve the problem of POW and POS(Proof of Stake). Meanwhile, Usechain uses the RPOW (Randomized Proof of Work), this is a significant step in the history of digital cash, this new technology will balance in all aspects such as transaction speed, security, encryption mechanism,…
  • The second is about security, while EOS is only good scalability but very bad security, bitcoin has average security layer, Usechain with Ethereum has very high security for users. In this virtual world, I think security is very important.

  • Third is about speed of transaction, Bitcoin’s TPS is probably too bad, slow, and expensive, as the technology only supports about 7 TPS (transactions per second). Ethreum, known as 2.0, only supports about 25 TPS, while Usechain, along with EOS, are two blockchain that will have expected trading speeds of up to thousands of transactions per second.
  • Fourth is about the decentralization, the three blockchain Usechain, Bitcoin, Ethereum are all decentralized, as affected by the DPOS mechanism as mentioned above, EOS will have a technological democratization layer but is influenced by centralized, so, it is only half-decentralized.

=> Usechain is a project bring into balance that guarantees all three elements of a blockchain, decentralization, security and scalability, while Bitcoin ensures security and decentralization, EOS is only about extensibility but less secure and affected by centralized. Ethereum is secure and decentralized, but its extensibility is slightly better than Bitcoin. Meanwhile, Usechain is a blockchain project balanced by all three, a very interesting project.

How it work?

This platform uses a multi-level system to authenticate users of a particular resource. For example, the address of a personal electronic wallet with the owner. Because the whole process is based on blockchain technology, this information will be reliably protected from unauthorized access and used for various purposes by intruders.

RPOW – Consensus will provide more transactions per second with less power consumption and will not require the technical level of the mining equipment. Yes, you are not mistaken. Usechain will allow exploitation. Moreover, a function is declared in the platform, which will allow cryptocurrency to be exploited by mobile devices. Therefore, this platform will provide a high degree of security, performance and high speed, as well as reduce power consumption.

In the Usechain platform, also introduced – shading technology. Sharding will only confirm that part of the transaction that it belongs to. This technology will speed up the transaction. A unique identification system will provide the opportunity to interact with users only with their personal information, applications and resources.
An important element in the operation of the Usechain platform is the stability of its operation with the influence of any external or internal factors. This is the advantage of blockchain technology. Even in the case of the appearance of a problem situation, simple blocks will freeze until the situation is resolved in a specific order.

TEAM

As an integral part of the project, the group has 10 managers and 6 consultants. It is a professional team with extensive experience in IT, finance, marketing and management of similar projects. Many representatives of professors and teachers, a considerable number of practitioners. Usechain’s founder and CEO is Henry Cao – a great business expert, an MBA expert.

Core team

  • Henry CAO – Founder,CEO: Finance Professor at Cheung Kong Graduate School of Business, Head of the Department of Finance, Founder of the first Finance MBA program in China, Member of the Finance Society of America, taught at the University of California at Berkeley, the University of North Carolina, Chapel Hill, admitted to the USTC gifted class when he was 13 years old, Yale University/ UCLA PhDs.
  • Baohong SUN – Co-Founder,CSO: Marketing Professor at Cheung Kong Graduate School of Business, Dean’s Distinguished Chair Professor of Market, Associate Dean, Former Chaired Professor at Tepper Business School, Carnegie Mellon University, editorial board member of “Marketing Science”, “Journal of Marketing” and “Journal of Marketing Research”, The world economic forum on future behavior, Renmin University of China, BS, USC PhD.

Advisors

UST TOKEN

Many people question the effect of UST, do not know what to buy for what? The UST is a form of utility tokens and is built on the basis of the ERC-20, which was born to reward and donate to developers who are technologically inclined. Usechain has a better and better ecosystem, or for those who help Usechain build and develop their business community. Although built on Ethreum’s ERC-20 platform, when Usechain developed its main net product, the UST will be used by the Usechain for its own chain, which will be implemented in the third quarter in 2018, and then the community estimate of Usechain will be over 100,000 people. The total quantity of UST is 20 billion UST. The distribution plan is as following:

Token distribution

Use of funds

Conclusion

We can confirm that the demand for the services of the Usechain platform is great. Today's world of IT industry requires identification in various kinds of applications, gadgets, when accessing any personal information or functions. This is especially high in the crypto-currency sector.

 

 

More information
Website: http://www.usechain.net/
Whitepaper: http://www.usechain.net/usechain_en.pdf
telegram: https://t.me/usechaingroup
ANN Thread: https://bitcointalk.org/index.php?topic=3432061.0

Author:
Bitcointalk Username: vancuongdbj
Bitcointalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=1667647
Telegram: https://t.me/vancuongdbj

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