Usechain project (https://www.usechain.net/)has gained some traction recently and came to my attention couple of times during the last month. As I’m always looking for ICOs with great potential, I’ve decided to have a closer look and asses whether to invest or not.
Usechain To Become World’s First-ever Self-sovereign Identity Blockchain
Idea
Usechain introduce a brand-new consensus mechanism, Randomized Proof of Work to perfectly balance high performance and strong security, and apply multi-level authentication and encryption mechanism, Zero Proof, Identity Virtual Machine (IVM), Identity Network Sharding (INS), Identity Transaction Sharding (ITS), Enhanced Smart Contract, and other innovative technologies to create a new generation of Blockchain, leading Blockchain 3.0.
Whitepaper
Usechain White paper( http://www.usechain.net/usechain_en.pdf) has a scientific look, and so scientific content. It starts with high-level introduction to blockchain, and continues describing general mechanics behind technical arcchitecture concept. It further explains concept of Usechain ecosystem how it works, then they explain their value of project their moto, goal. Followed by nice explanation of their future goal ,token sale and distribution , team, advisers White paper closes with a brief section basically stating their weakness as well and their bright future plan.
Overall a white paper is a document that tells how the technology of the block-project will work. This file usually contains a detailed description of the architecture, as well as how the users interact with the system, information about the current market situation and growth forecasts, the conditions for the release and use of tokens, and a list of team members, investors and project consultants. I think Usechain explain everything.
Commercial & Technical Strategy
“Usechain, the self-sovereign identity blockchain, is ultimately aiming to solve the trust issue in this society,” says Usechain CEO and Cheung Kong Graduate School of Business (CKGSB) Professor Huining Cao.
“KYC(Know Your Customer) is important to the financial industry. We have came up with a new concept that can map every person, every business and every asset to the blockchain,” says Professor Cao. “Every person or business will have a real account. We then transfer through smart contracts to build deeper trust.” By identity mapping, it will allow Usechain to meet the critical KYC standards of traditional financial institutions, shifting the focus on “who you are” to “what you can do”,making it more compliant to applications outside of its own ecosystem. It will also greatly reduce the cost of identity assurance and reform financial industry.
Engineered by a world-class technical team, Usechain will achieve a balance between scalability and security by fusing their unique “Randomized Proof of Work” (RPOW) revolutionized consensus built on identity with a multi-tiered sharding network to make transactions safe and efficient. Real identity information will be encrypted for privacy and mapped for legal assurance so as to be available to governments for investigations against criminal actions.
Road Map / Timeline
Q2 2018
Develop privacy protection system.
Form core community and achieve 50000+ people.
Q3 2018
Develop software-based RPOW consensus algorithm.
Develop enhanced smart contracts.
Develop TPOS consensus algorithm.
Launch beta version of main chain.
Achieve 100000+ people in the community.
Launch the first DApp.
Q4 2018
Set up sub-chain structure.
Develop cross sub-chain communication.
Build Usechain eco-fund to accelerate ecosystem development.
Develop multi-industry vertical community.
2019
AI system of address behavior analysis.
Develop tokenized multi-node system.
Develop hardware-based RPOW consensus algorithm.
More multi-industry identity-based DApps.
Launch decentralized exchange.
Team & Advisors
So this looks like a well thought and massive project. But who are the people behind it? Again I will quote the texts directly from their website.
Team
HENRY CAO — CEO & Founder
He is the founder and CEO, a finance professor at Cheung Kong graduate School of Business, founder of the first finance MBA program in China. He was 13 years old when he was admitted into the USTC gifted class, I taught at the University of California at Berkeley.
BAOHONG SUN — CSO & Co-Founder
She is a co-founder, CMO and marketing professor at Cheung Kong graduate School of Business, Dean’s Distinguished Chair professor of market, Associate Dean Chaired professor at Tepper Buisness school, editorial board member of marketing science.
SHENGLI ZHANG — Chief Sciencist
He is the chief scientist and senior blockchain specialist, wireless network technologist, presenter of physical Layer Network coding, professor of Shenzhen university, senior member of China electronics society and a holder of 3 national invention patents of blockchain, USTC BS and MS CUHK PhD.
FENG ZHANG — Senior Financial Specialist
He is the senior financial advisor, an expert in thousand talents with about 30 years of experience in QIHF globally, MD of Asset management department of CitiGroup/ Morgan Stanley
ERIK XU — (COO)
He has about 10 years of experience in internet and information security industry in general management and marketing. He is a serial Entrepreneur, Head of information security project at national information security Engineering centre, member of national information security.
ANDY ZHOU — (CTO)
He is the technical director of Beijing United Electronics Co, Serial Entrepreneur in IFLYTEK, Huawei, technical director in Chukong technology, deep understanding of big data, artificial intelligence and distributed system, Double a bachelor’s degree from University of science and technology of China (USTC) and MS from Chinese Academy of sciences (CAS)
LIN ZHAO — (CPO)
He has about 10 years of experience in internet and new retail industry, experienced in platform building for horizontal e-commerce E co-friendly product and service specialist.
AMANDA SHEN — (CMO)
She is the public Relation and marketing experience for 12 years, marketing strategy manager of FedEx China
Advisors
LUCAS LU — Advisor
He is the senior advisor, senior expert of blockchain, founder and CEO of 5miles and cybermiles (CMT), the first general manager of Mobile Taobao, China university of science and technology BS, SMU PhD
YIN CAO — Advisor
He started his research and promotion of blockchain application in 2015 and was among the first to propose the concept of Energy internet in China. He is a co-founder of the first energy blockchain Lab in the world, major member of the technical working group China of Hyperledger project
Tokensale Details
How UseChain Mirror Identity Blockchain Works
Usechain is built on mirror identity protocol merged with high-level innovations in structure design and technology to eliminate the delays in the process of developing blockchain and bring a perfect balance between scale, security, and decentralization. Usechain, as an ecosystem is growing fast and will hold thousands of credit-based and identity-based applications in the future.
If you wish to get more information, you can visit website and read whitepaper.be sure to join social media for get updates. I think this article will helpfull to you for get an idea about Usechain.
Website：https://www.usechain.net/
White Paper: http://www.usechain.net/usechain_en.pdf
Technical White Paper: http://www.usechain.net/usechain_tech_cn.pdf
Facebook：https://www.facebook.com/UsechainFoundation/
Twitter：https://twitter.com/usechain
Github: https://github.com/usechain
Reddit：https://www.reddit.com/user/Usechain
Linkdin: https://www.linkedin.com/company/usechain/
Medium: https://medium.com/usechain
Telegram group: https://t.me/usechaingroup
Telegram channel: https://t.me/usechain
Bitcointalk: https://bitcointalk.org/index.php?topic=3432061.0
