USECHAIN: BRINGING INNOVATIVE CHANGES TO BLOCKCHAIN TECHNOLOGY

Emmy92

Every now and then we keep seeing different applications of blockchain technology in various fields.

Blockchain technology has found wide uses owing to its outstanding features such as;

a. Decentralization: This feature ensures data protection,

b. Smart contracts: This feature ensures successful completion of real-time transactions,

c. Time stamping: This feature ensures all real-time transactions are tracked.

Yes, blockchain technology has grown tremendously and solving related issues, but a study has shown that there are issues or challenges which tends to limit the true effectiveness of blockchain technology, such as;

a. Poor performance,

b. Poor scalability,

c. High technical threshold.

Owing to this issues in addition to lack of commercial support etc, blockchain technology is yet to be adopted on a global scale, thus the need for blockchain scalability.

Someone might ask, what is scalability? To a layman, scalability can be seen as a process of enhancing a platform or system so as to make it more useable thus meeting up with the demands or needs of its users.

In other to solve issues limiting blockchain technology at the same time making blockchain more scalable led a team of brilliant minds into creating a platform unique in all ramifications, known as USECHAIN.

Usechain aims to be the first ecosystem built on blockchain to build a mirror identity blockchain protocol as well as being integrated with multi-level innovations in technology and structural design. With the successful implementation of Usechain, the following will be achieved;

a. Solving of issues limiting the development of blockchain,

b. Providing a well-established Infrastructures of technology which can be used by the virtual and parallel world in the future,

c. Development of widely used DApps, and host of others.

WHY USECHAIN?

Bitcoin introduced the first blockchain technology known as blockchain 1.0 along with many benefits, but a study has shown that Bitcoin is plagued with low transaction performances and high consumption of power.

Also, Ethereum introduced blockchain 2.0, this makes smart contracts easily accessible to other developers as well as making the exchange of different cryptocurrencies easier, yet Ethereum has not provided a platform where users can adopt value exchange in their daily lives.

This problems associated with the first and second generation of blockchain has led many blockchain companies into finding a solution. The Problems limiting blockchain technologies as well as cryptocurrencies can be summarised as follows;

1. Poor Performance: The first and second generation of the blockchain, Bitcoin and Ethereum are yet to be adopted into people's lives as a value exchange. Also, a study has shown that Bitcoin and Ethereum can only process 7 and 25 TPS (transaction per second) respectively which is extremely low as compared with Visa. Owing to these issues, blockchain technology is yet be adopted on a global scale.

2. Anonymous Environment: At the heart of blockchain technology is anonymity, this ensures that the on-chain addresses of cryptocurrency accounts have no association with the real person who owns the account (off-chain identity). This has succeeded in creating a channel for all fraudulent activities. In certain scenarios, for the wide range of applications, support for KYC and AML is needed.

3. High Technical Difficulties: As of recent, a flexible and easily implementable DApp (decentralized applications) is yet to be created which can be launched on any existing blockchain platforms. This is because the development of public blockchain requires highly experienced developers.

These problems are what Usechain aims to solve, this is because Usechain understood clearly that the stage blockchain technology is in now, can be related to that of the Internet which was run, believed and embraced by enthusiasts. The need to solve this issue at this early stage matters a lot as centralized systems still dominate the market as well as the society.

WHAT USECHAIN AIMS TO ACHIEVE

Owing to transparency, security, decentralization etc blockchain technology has found wide uses thus laying an ideal foundation for large-scale transmission of value.

It's has been believed that blockchain 3.0 will bring a new era in blockchain technology which will change the way users explore or innovate development mode.

Usechain with the aim of creating a new generation blockchain (blockchain 3.0) understood that in other to achieve its aim, there is need to solve the issues limiting the first and second generation of blockchain technology.

Usechain achieves its aim by satisfying certain conditions which will lead to the mass adoption of blockchain technology and cryptocurrencies. These conditions are;

1. High Performance and Scalability: This is achieved by providing an efficient transaction process management as well as support for millions of DApps and billions of users.

2. Identity-Based: Usechain aims to create a blockchain which will be adopted on a global scale. This is made possible by establishing a connection between the on-chain address and off-chain address made possible via the use of KYC and AML, as well as meeting up with regulating authorities.

3. Low Technical Restrictions: With proper and continuous optimization of smart contracts as well as the promotion of accessibility, will give rise to a more user-friendly interface for the existing internet technologies in addition to low cost etc.

USECHAIN ECOSYSTEM

Usechain is building a blockchain technology Infrastructure with a high performance, highly secure, reliable and high-value transmission, this, in the long run, will lead to blockchain 3.0.

With Usechain having a solid technological foundation coupled with high performance and security, creating of identity mapping won't be an issue thus making Usechain the one stop shop for scenarios requiring identity.

As the ecosystem continues to be improved, behavioural data gotten from users, events and objects within the Usechain identity system will be;

a. Transparent,

b. Open and

c. Irreversible.

USECHAIN TOKEN

Usechain token UST will be an ERC20 token built on Ethereum blockchain. It is a utility token with the total supply of 20,000,000,000. As Usechian ecosystem grows, the token will be converted to the Usechain coin which will take place when the main net goes live.

UST will be used to;

a. Reward community developers as well as supporters,

b. Support the growth of the ecosystem as well as allowing all users to use the decentralized applications.

CONCLUSION

Usechain has an experienced team of experts with outstanding knowledge in blockchain technology, and by working with partners and other experts will successfully create the first high-performance mirror identity blockchain.

Usechain mirror identity blockchain which will have;

a. High Performance and Security Balance,

b. Anonymity and Identity Balance,

c. Technology and Application Balance.