USECHAIN : A MIRROR IDENTITY BLOCKCHAIN ECOSYSTEM

If you are reading this post, very likely you have at least some idea about crypto currencies. If not, well it is way too complicated to explain this issue here. There are dozens of forums and articles, where eggheads and just average people tries to figure out the phenomenon of Bitcoin, Ethereum, Ripple and other currencies, which prices are day by day closer to the moon (despite of time when they are falling like shot airplane like last couple weeks). So if you want to fulfill gap of your knowledge, check more specialized sites like bitcointalk.com and etc. Just please put the great attention on key words like: ‘ICO’, ‘Bounty’, ‘KYC’ and of course main slogan which attract millions of people to crypto currencies ‘rocket to the moon’. If you already did your homework, I can explain you the reason why I am writing this post.

ICO market is nowadays pretty similar to the Wild West during the gold rush period. It is possible to earn money very quickly, sometimes even good money, but you have to find a perfect spot, or in this case, a good project to invest. Common thing to the Wild West? No guaranties and almost no law. It is pretty easy to find bad cowboys which are going to promise you golden mountains to steal your last piece of bread. So in all this mess, if you want to find your gold nugget, you can trust just your own brain composites.

So did I and during my research I found the project in which I really put my faith: USECHAIN. Very likely you haven’t heard about them, project is made by great team members. Nevertheless, guys have an advantage, many other teams does not: already existing product made on a very perspective field. But these are not all pluses I found in this project. Below you can read the analysis and decide on your own, do you want to send some pennies to the pot. The analysis I will present consists of parts, and each of them shows this project from different angle. So, let’s go!

Usechain is a Singapore based firm committed to getting self-sovereign identity Block local community substitute to the very famous BTC and ETH Block chains. Use chain incorporates a lot of impressive ecosystems these as Randomized Proof of Do the job a multi tried sharded system, connection with federal GOVTs IDs, and Social Media based mostly credit rating making, securitizing, lending plan on which lot serious, the regular living application might well be designed. Opportunity purpose includes IOT, Finance, Social Community, Supply chain and Internet Games. Usechain is committed to developing the first mirror identity blockchain ecosystem by shaping itself into a worldwide platform with a rich variety of application scenarios, the largest communities and the most advanced technologies. Usechian empowers identity and makes everyone on-chain with a very low barrier. Individuals can participate in the ecosystem by investing time, attention, asset, etc. to create value. Subsequently, participants will be rewarded fairly in the ecosystem, allowing value to be given back to the original users, thus eliminating monopoly and third-party giants in the current society.

Usechain is committed to developing the the first mirror identity blockchain ecosystem by shaping itself into a worldwide platform with a rich variety of application scenarios, the largest communities and the most advanced technologies. The ecosystem of Usechain Blockhain includes application service, application protocol, application components and core framework of underlying Blockchain.

FEATURES OF USECHAIN

USECHAIN is a blockchain platform built on Mirror Identity Protocol and integrated with multi-level innovations in technology and structural design, and can be used to break the bottlenecks in the development process of the blockchain. The following are the features of the USECHAIN platform:

Provision of advanced infrastructural technology for the virtual and parallel world.
Development of more widely used Dapps.
Provisions of technical support for application exploration in finance, consumption, entertainment, social networking, games, supply chain management, asset management and social management.
Performance and scalability: Usechain platform provides efficient transaction process management and support for billions of users.
Identity-based: It establishes a connection between identities and meet requirement of KYC and AML, making it possible to be massively adopted in daily consumptions, loans insurance, etc.
Low technical barrier: provision of a user-friendly interface for existing internet technologies and low-cost and low risk docking mode for established technologies.
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USECHAIN ECOSYSTEM ARCHITECTURE

USECHAIN has a leading team specialized in blockchain technology that is dedicated to establish a first high-performance mirror identity blockchain ecosystem with the most advanced technology, richest application scenarios and largest user community.
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USERS: Individuals can make use of the verification feature and service applications in the usechain ecosystem to complete mapping of address and identity verification.
Application Participants : Individuals and organizations can endorse identity verification for others based on their identity certification and contribute to the development of the usechain ecosystem.
Technology Participants

ECOSYSTEM APPLICATIONS

Identity Tokenization.
Cryptocurrency payment.
Decentralized financial services.
More credible sharing economy.
More efficient and secure IOT applications.
Unattended investment and equity management.
Decentralized insurance.
Decentralized Exchanges.
Tuition fund.
Digital Content production and trading.
Blockchain games.
Market forecast.

USECHAIN MIRROR IDENTITY BLOCKCHAIN

Mirror Identity Blockchain will provide a public blockchain which will be open towards the verification of a real users while fully protecting personal privacy, keeping the information on the chain fully transparent, and accord every address on the chain to a natural person in the society. Usechain will becomes the first public blockchain to be build on Mirror Identity Protocol (MIP) and integrated with multilevel innovations in technology and structural design, that can be used to break the ineffectiveness in the development process of blockchain, provide infrastructure of technology for the virtual and parallel world in the future, build an identity blockchain system that is build on a new technical structure and develop more widely used Dapps and also support underlying technical support for the application explorations in finance, consumption, entertainment, socialnetworking, games, IOT, supply chain management, asset management and social management and add more value to identity by allowing people to be connected to the financial services provided by Wallstreet in an easy , convenient and instant way.

THE ROLE OF IDENTITY VERIFICATION IN IDENTITY BLOCKCHAIN

The main address is the user’s main account, which is created when the user generates the wallet. Every user has only one main address that is linked one-to-one with identity. The main address uses the Elliptical Curve Secp256k1 to generate the public and private key, and then uses the public key to generate the address. Both main and sub addresses require verification to start transactions. There’s not limit on the number of sub addresses, which will be generated based on the user’s needs, using the user’s main account public key, and are kept separately from the main address. Therefore, the dependence relation between main addresses and sub addresses are not visible.In the upper level applications, first there is a need to verify the real name of the identity chain address. The identity chain will achieve the verification and construction of every real entity’s main address through multiple publicly trusted third-party agencies. The process is as follows:

The user applies for the CA certificate to the third-party agencies, and the third party verifies and returns to the user the certificate. This process will only occur once.

Then, the user can prove to the blockchain that they have the verification using zero-knowledge proof (but there’s no need to publicize any information about the CA). The address generated by the user will be recorded by the blockchain smart contract and becomes the user’s only main address. There is no identity information on the main account, so the identity information stays confidential.

The user uses their public and private keys and a randomly selected public key on the blockchain to apply to the committee for secondary address authentication through the ring signature strategy.

When the user wants to send a transaction, the validity of the transaction must be verified. Usechain verifies the address through the CA contract, determines whether the transaction is legal, and then executes the transaction if it is legal.

In necessary cases such as if the account is suspected of illegal activity, the committee scans the network for account relevance.

TOKEN AND ICO DETAILS

UseChain UST Token ICO Details

Token symbol: UST

ROADMAP AND DEVELOPMENT PERSPECTIVE

Engineered by a world-class technical team, Usechain will achieve a balance between scalability and security by fusing their unique “Randomized Proof of Work” (RPOW) revolutionized consensus built on identity with a multi-tiered sharding network to make transactions safe and efficient. Real identity information will be encrypted for privacy and mapped for legal assurance so as to be available to governments for investigations against criminal actions.

The Founder, CEO, Henry CAO, is a finance professor and founder of the first finance MBA program in China. He is also the managing director of China Blockchain Application Research Lab and also taught at many universities.

The Co-founder, CSO, Baohong SUN, is a marketing professor, and a distinguished chair professor of market.

Follow these links for more information;

Website: https://www.usechain.net/

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

Technical White Paper: http://www.usechain.net/usechain_tech_cn.pdf

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

Twitter：https://twitter.com/usechain

Github: https://github.com/usechain

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

Linkdin: https://www.linkedin.com/company/usechain/

Medium: https://medium.com/usechain

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