Overview Of Usechain

5 min readJun 16, 2018

Usechain is the first of it kind, it is the first publish blockchain built on Mirror Identity Protocol implemented with different features, that makes it more advanced and better than the existing BLOCKCHAIN.

Reference to the above introduction. Welcome today. I will be writing about an awesome and amazing project called Usechain but before I dive in to details about the project let's look more into the origin of blockchain.

The Origin Of Blockchain

The trending technology BLOCKCHAIN goes way back to 2009 when the first cryptocurrency was created named Bitcoin based on blockchain technology there was so much that this technology offered then in terms of transaction fee, transaction speed and scalability. But as the adoption increased over time this blockchain network deminished in it capacity, the number of users increased exponentially globally and the need for a better platform. In this light was a new blockchain created termed as BLOCKCHAIN 2.0 and the previous BLOCKCHAIN 1.0 . Blockchain 2.0 has more advantages over blockchain 1.0 with a much more faster speed not just speed but also cheap transactions and increased scalability.Though it main features were centred about Smart Contracts it what we know as Ethereum today so many ICO depend solely on this platform.

So Why Usechain?
Over the course of years since the inception of the cryptocurrency world. New projects has come up with brilliant ideas which most of this projects focuses more on the application of blockchain technology solving one life issue or the other additionally, these projects work on improving transparency, efficiency, decentralization, security etc. But the objective of Usechain is way different with of course those features, the rate at which new projects are coming up everyday it seems as if we don't know the true objective of the blockchain technology as at it very first inception anymore. In the light of this Usechain is creating a platform that will be utilized by the mass market and will be centering on sole identity mapping which means usechain is will be utilized in scenarios concerning identity. In this way Usechain will be driving the world onto BLOCKCHAIN 3.0 it is tasked with the objective of changing the way people explore and innovate the blockchain technology.

The Problems Associated With Previous BLOCKCHAINs
Even though there was still am advancement from blockchain 1.0 to blockchains 2.0 there was still problems. Usechain is tasked with resolving this ones and for all.

Low Performance: in terms of transaction speed and transaction cost this two blockchain 1.0 and 2.0 are still lacking as transaction speed which tends to decrease as users increases on the blockchain network as well as the increase in gas fee. The Transaction Per Second on Bitcoin and Ethereum respectively is 7 and 25 TPS this is relatively low and proofs that this blockchain can't serve a global purpose
Anonymous Environment: One of the advantages of using the blockchain is that you are anonymous doing your transactions which means the sender and receiver identities are never disclosed but over the years this privilege has been abused by criminals using this for criminal activities such as Money Laundering, gun deals etc, this has to be corrected.
High Technical Difficulties: Lack of a user friendly interface which also requires the employment of skill personnel in the creation of a public blockchain.
Usechain Disrupting The Existing Blockchains

It is for the aforementioned reasons and problems that the usechain platform was created and to bring about a new dawn BLOCKCHAIN 3.0

Usechian is the 1st Mirror Identity

Blockchain developed by the usechain foundation which is based at Singapore 🇸🇬. Along side with objective of Usechain it will also solve the problems of the existing blockchains by creating a blockchain of it own. below are the solutions Usechain offers

high level security,
high performance and scalabilit,
low energy consumption,
Identify based
public participation,
Low technical barriers

Usechain foundation has done the necessary observations and testing of the existing blockchains adding together all advantages of these blockchain. The combination of this makes up usechain blockchain

Technical Architecture
Below is a list of some of the technical components that makes up usechain feel free to read the Whitepaper for more information concerning to components.

Multi level authentication mechanism
Randomized Proof of Work Consensus Mechanism
Network shading technology
Identity Virtual Machen

Read the Whitepaper:👉 https://www.usechain.net/usechain_en.pdf for more information on the technical architecture of Usechain.

The Usechain Token (UST)
UST is an ERC20 enabled token that will serve as the primary currency token is usechain ecosystem for all transactions purposes such as reward payment for developers and supporters. In the future as the community grows and usechain main net goes life there would be convertion to UST coin.

Token Summary

Token Name: UseChain

Token Ticker: UST

Token Standard: Ethereuem (ERC20)

Token Total: Supply: 20, 000, 000, 000

There is an ongoing token sale know more about it kindly visit the official website for more information.

Below is an analysis of the Token/Fund Allocation

The Team
The founding organization is based at Singapore and are comprised of competent individuals with high profile in the field area of the project. Below is an highlight of the team. Check the entire team and advisors by following this link: https://www.usechain.net/