USECHAIN: First Mirror Identity blockchain

Introduction

Usechain is a blockchain forum that forms a database for spotting an individual and attaching it to certain services: cryptocurrency accounts, service softwares, insurance or borrowing, banking industry inter alia. Besides, the platform gives room for thorough mining, achievement of high-speed cryptocurrency readings.

In my previous article on Usechain, I talked about it being An Identity Blockchain Ecosystem. You can read more on it here; https://steemit.com/ico/@miracle24/usechain

Usechain Platform

Usechain is committed to building the the very first mirror identity blockchain community. Leveraging on present technologies in blockchain, Usechain gets to be the first open blockchain to be developed on Mirror Identity Protocol and incorporated alongside multi-level inventions in technology and architecture that can be utilized in disrupting the barriers in the formation processes of blockchain.

Usechain platform offer technological facilities for the virtual and real world in future times, develop an identity blockchain mechanism structured on a new technical design, develop more largely adopted decentralized applications and offer underlying technical aid for the application use in finance, consumption, entertainment, social website development, IoT, and supply chain handling.

Similarly, the platform simplified the processes of asset management, social management and improve identity by enabling people to be linked to the financial service offered by Wallstreet in a convenient, simple and immediate manner.

Use Cases of Usechain Platform

Cryptocurrency Payment

Users can pay for services on the platform with cryptocurrency saved up in their wallets. The payment will be analysed in a disaggregated peer-to-peer basis without bringing in centralized mechanism, cryptocurrencies and digital rebates can equally be used for payment on the platform.

Disaggregated Financial Services.

Usechain processes behavioral data with identity-mapping addresses to develop a public and clear identity value and reliable system. Using the Distributed Ledger Technology (DLT), the whole process is shared in the blockchain community, therefore, the effect on identity credit status ranking is stored immutably on the blockchain.

More Credible Sharing Formula

Irrespective of car pooling, sharing motorcycle or flat or business investment, the vital issue in a sharing arrangement is basically trust, which, nevertheless, can be settled by using blockchain technology.

For instance, you might be worried about a stranger moving into your house with you for the first time, but if the stranger’s past behavioral information is already shared on blockchain and it’s unalterable, you can be surer if who you’re dealing with.

More Efficient and Safer IoT Applications

With the recent surge in the Internet of Things (IoT) and smart phones, the projection is that in few years to come, we will have more smart devices allotted to each individual. Via smart devices, a larger percentage of our day-to-day transaction can be substituted with smart IoT application.

Nevertheless, IoT applications are beset with a number of problems such as security threats, privacy problems, and high cost of operation. Usechain platform can use the blockchain application to resolve this issues by offering an efficient, reduced authentication cost and dependable identity verification for circumstances that warrants identity-based authentications.

Unattended Investment and Equity Handling

Usechain platform afford users the privilege to develop disaggregated fund to undertake partial investment in the market portfolio index. Every transaction is clear and management fee is not charged. Sums left to be withdrawn is dependent on the net asset value and the transaction fee charged.

Why UseChain

To hasten the mass adoption of blockchain technology and maximize social contribution and commercial value, UseChain has taken a step further by upgrading some core aspect of blockchain and making it different from existing blockchain.

It includes;

High Performance

Performance is enhanced through a random algorithm. Miners are given a different difficulty by the block. This helps to distribute and adjust virtual hash power which in turn increases transaction confirmation efficiency. This is based on POW.

High level security

The network uses a secure infrastructure to give identity to where it is needed. This guides against double spending attacks.

Low Energy Consumption

Through identity mapping which is one of the characteristics of the network, the network can reduce hashing power dependence which reduces the energy and computing resources consumption.

Public Participation

The 3 reasons given above leads us to the 4th one. With a higher performance, high security and low energy consumption, UseChain can be mined even with a mobile device. This gives everyone the opportunity to participate in the network globally.

To attain a high level consensus algorithm, UseChain in the future will build a secure, attack resistant, high performance and a hardware based Trusted Execution Environments (TEEs).

Token

The UST token will be an Ethereum blockchain based (ERC 20) token prior to mainnet launch. The token will be used to provide mining rewards and execute transactions on the blockchain.

ICO Details

Token symbol: UST

Total tokens: 20 billion tokens

ICO supply (private & public): 9 billion tokens

Soft cap: 1350 BTC

Hard cap: 4500 BTC

Price/Conversion rate: 1 BTC = 1000000 UST

Projected crowd sale date: 20th June, 2018

Token Distribution

Maximum token for sale: 45%

Marketing & Partner Support: 5% (+ bounty comprising 6%)

Community Rewards: 20%

Technical Community Rewards: 15%

Core Team: 15% (initially locked and 25% vesting every 12 months)

Team & Advisors

Investors & Partners

Roadmap

Conclusion

Usechain is a financial management platform that resolved the trust and transparency involved with transactions by hosting user data on decentralized locations, making it more reliable and trustable for such users.