Usechain- blockchain, which will change all
I welcome everyone in my blog, my name is Julia, and today we will consider quite an interesting project called Usechain.
To begin with a small foreword. Just a few minutes ago I was conducting another token transaction in the Ethereum network. What were the tokens is not so important, it is important that for this transaction I paid a fairly large, in my opinion, a commission of about 11 cents. Plus, the transaction had to wait more than 10 minutes.
Should the user be uncomfortable due to poor network performance? I think not!
What am I doing? And to the fact that our today's project Usechain is, neither much nor little, blokchejnom a new generation, which will solve the problems described above.
This is a blockchain new, namely the third generation, which aims to discover this wonderful technology for application in the real world. The team calls its product the first project with a mirror identity (first Mirror Identity blockchain), that is the basis of it lies the principle of identification of the person, the ratio of her to the purse in his network. No negative impact on the safety of your personal data, which I will say next.
The project team is well aware of the current state of affairs in the industry, as well as the pressing problems of blockchain platforms, among which the following are particularly highlighted:
- slow transaction speed. If the transactions Ethereum even more or less go, then in the network Bitcoin waiting for a transfer of 40-60 minutes is not unusual;
- high commission for the transaction, which I wrote at the very beginning of the article;
- lack of friendly interfaces to interact with this ecosystem. Huge, awkward addresses of purses, constant problems with private keys, purses, and other things-all these are not the best properties of the system that will help it to adapt successfully in the real world.
First of all, the platform will provide its users with a friendly, high-performance and scalable ecosystem, adapted for real-life applications. Provides such properties quite serious technological filling system:
- first, I'll mention a new consensus algorithm developed by the company itself. The algorithm is called Rpow and stands for "random proof of work." As I understand, each block extracted miners will have a random level of computation of complexity, which would have a positive impact on the speed of generation of each block, and significantly reduce the amount of necessary energy consumption;
- application of multilevel user authentication mechanism as well as Zero Knowledge Proof technology. As I said earlier, one of the principles of the system is to correlate the address of the purse with its real personality. However, there are two nuances: first, the system only stores this relationship, not the data itself. Secondly, there is an interesting technology of zero Knowledge proof, that is evidence of zero knowledge. This means that you can interact with all members of the ecosystem, such as insurance companies or banks, and they will not have information about you;
- blockchain Usechain will use the technology of network sharding. This technology provides a high level of scalability of the platform, and also guarantees stability against any type of hacker attacks;
- another interesting solution I can mention is the stability of the network to various kinds of problems, for example, stealing funds from the purse. If a fraudulent activity is detected, the detected transactions are temporarily frozen until the network is resolved on them.
As a result, the platform architecture provides a fast transaction capability (thousands per second is expected), virtually zero commissions, and almost infinite scaling.
First, these are all areas where proof of identity is necessary, for example:
- applications from the financial sphere, for example, a credit company, brokers;
- payment systems on blokchain;
- insurance solutions and others.
In addition, the platform will be successfully applied in such areas as decentralized exchanges, games, the economy of shared consumption, the Internet of things.
And if we take each of the three leading at the moment Blockchain solutions, this is Bitcoin, EOS and Ethereum, in each of them we will find our significant disadvantages. For example, EOS can provide high throughput and a large number of transactions per second, but donates decentralization. Ethereum, in turn, is not capable of scaling, gives a low rate of transactions on the network, and so on.
Usechain, on the other hand, is a balance between decentralization, reliability and scaling of the network. The combination of these qualities helps to count this project for a bright future.
Successful business depends first of all on people, management of the company. is not an exception and Usechain. The project manager is Henry CAO, who can be called the luminary of economic, managerial and financial science. He is a recognized expert in the financial field as well as in the field of project management. Teaches such discipline as MBA (it is a higher education in the field of business). As for the whole team, the huge scientific potential and experience of each participant in the sphere is rushing into the eye.In my opinion, the team is another strong component of this project.
Token Ticker: USTToken type: ERC20Token Price: 1 UST = 0.0063 USD (0.00001267 ETH)Hard Cap: 33.5 million USD (4.500 BTC)
After a detailed review and analysis of this project, I believe that the growth potential of Usechain is quite large, it concerns the possibility of increasing the value of its token. I really like that the team is aimed at promoting its solution in real life, real business sectors. This is exactly what is lacking in modern blockchain projects, which, by and large, soar in the clouds, without thinking about the genuine, real needs of the person, caring only about the promotion of their product, creating as much noise as possible.
I hope that this project will achieve its goals and be warmly accepted by the public.
I advise you to study this project in detail by clicking on the official links:
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