USECHAIN: ADDRESSING THE ISSUES LIMITING THE MASS ADOPTION OF BLOCKCHAINS

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INTRODUCING USECHAIN

The year 2009 birthed the first blockchain based cryptocurrency which is the Bitcoin (BTC). Since then, the blockchain technology has experienced a rapid growth in usage and applications. The Bitcoin and Ethereum have brought revolutions such as decentralized currency and smart contract innovations into blockchain. The benefits of the blockchain technology and cryptocurrency will make the world to experience autonomy while also having secured transactions.

Just recently I heard that Ethereum is already working on their phase one of Sharding network, I was happy, but my happiness was cut short when I read further and realized it will take 3-5 years to implement the full Sharding feature. The sole purpose of Sharding network is to enhance and make Ethereum blockchain more usable, but with the longer time frame for full implementation of Sharding, it will be a great limitation for this blockchain.

The truth is we are now accustomed to the high gas fees or delayed transaction associated with the first and second generation of blockchain (Bitcoin and Ethereum), thus need for a system which will solve these issues, in the long run making blockchains more adaptable on a global scale. Other blockchain companies have been working so as to solve these issues associated with Bitcoin and Ethereum, one of them is USECHAIN.

Usechain is built on a technology that has the capacity of introducing innovations that will break the bottleneck involved in the development processes of blockchain and usher in a platform for development.

PROBLEMS USECHAIN AIMS TO ADDRESS

1. Performance is low and inefficient: The existing blockchain is not yet integrated into people's lives. The existing blockchains like Bitcoin and Ethereum can support only 7 and 25 transactions per second respectively. These numbers are very low when compared with the number of operators and users transacting every second. This trend in speed makes it difficult for mass market adoption.

2. The system is based on anonymity: The existing blockchain platforms allow the operation of accounts anonymously by users. The anonymity of accounts promotes criminal activities like money laundering, drug trafficking and terrorism funding amongst others. This is one of the reasons why approval of the existing blockchain platforms is pending.

3. High technical difficulty: Technical difficulties overburden the existing blockchain platforms as it is very difficult to build a flexible decentralized application that can be swiftly deployed to the platforms. These technical issues limit the mass adoption and also give grounds that allow for centralized applications to dominate the market.

SOLUTION OFFERED BY USECHAIN

Usechain seeks to bring solutions to the identified problems by being a mirror identity blockchain ecosystem thus modifying and improving on the existing blockchain infrastructure. The platform will improve the efficiency and verification of transactions which will, in other words, meet requirements for mass-market application. The flexibility and usability, as well as decrease in the deployment of smart contracts, will be achieved.

Usechain will provide efficient transaction processes while also creating support for various DApps as well as users. In order to curb the problem of anonymity, Usechain will link all on-chain addresses to off-chain identities, thereby meeting the requirement to Know Your Customer (KYC) and Anti-Money Laundering (AML) policies. This will in effect make the massive adoption and usage of the platform possible.

Usechain will also usher in a low technical barrier to all investors and users. This will be achieved through the continued enhancement and optimization of smart contracts and promotion of more sophisticated and flexible application protocols that offer better user-friendly interfaces and satisfying user experience.

TOKEN INFORMATION

Usechain will issue a token which is known as UST token to reward users and support the growth of the Usechain ecosystem. UST token is presently based on the ERC20 standard and will be transited from an ERC20 UST token to a Usechain UST token as the community continues to grow. A total of 20 billion UST tokens will be generated and distributed according to the planned operation and innovation of the platform.

CONCLUSION

Usechain aims to create a blockchain-based platform which will be highly secure, have huge applications and operate at a high rate. The successful deployment of Usechain blockchain will give rise to blockchain 3.0, which have been believed to be the future of blockchain where users will experience another level of programming.

Usechain achieves this with the help of its team and partners who are grounded in blockchain related developments.

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