USECHAIN : A MIRROR IDENTITY BLOCKCHAIN ECOSYSTEM.

4 min readJun 16, 2018

After the emergence of Bitcoin and Ethereum which has made a great impact in the Blockchain technology industry and has brought about innovative ideas and concepts such as “decentralized currency“ and “smart contracts” into the world of Blockchain technology.
The Blockchain and Cryptocurrency have allowed the society to be totally autonomous and secured. But still issues like performance inefficiency, poor scalability and high technical threshold have limited the Blockchain technology to only be applied in cryptocurrency trading and exchange leading to low utilization of the system to its full potential. Although many core Blockchain communities have made a tremendous contribution the optimize the technology, but still the market value of the industry hasn’t been recognized and adopted by a mass market like the internet due to lack of commercial support and weak connection with market.

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.

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.

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.

Token sales

UST token will be the officially used in the usechain platform to effectively reward community developers and supporters, support the growth of the ecosystem and allow all participants to make effective use of the decentralised applications.

The UST token is presently an ERC20-based token. This is to allow all participants to take part in community building and the participation in wider range of members from Ethereum communities can be accepted. Gradually as usechain continues to grow, the ERC20-BASED UST tokens will be converted to usechain UST coins when main net goes live to protect the interests of all participants.

TOKEN DISTRIBUTION

The total quantity of UST token is 20,000,000,000 UST. And its to be distributed as thus :

For Sale

For technical research, hardware and bandwidth cost, project operation, and marketing of the usechain platform

Community Rewards

35% of UST will be reserved as the community rewards, which is divided into two parts :

15% for technical community rewards, mainly used to motivate developers to contribute their technology to usechain ecosystem.
20% for community rewards, which is dedicated for running the operation of the business model.

All distribution rules and process are transparent, distribution can be completed automatically thorough smart contracts.

Core Team

Early team members who provide product and technical support will be rewarded for the development of Usechain during the early stage. 25% will be released to the UST team every 12 months.

Marketing and Partner Support

5% of the token allocation will be for marketing and rewarding partners who provide storing support in the process of promotion and publicity. 6% of UST for marketing and Partner support is special for community based bounty program.