Usechain aims to become the first mirror identity blockchain platform. Due to the rapid development of blockchain technology, Usechain will become the first blockchain platform that comes with excellent features such as the Mirror identity protocol, cutting-edge innovations in technology and structure design to break the barriers that accompany the development stages in blockchain, provide the structures needed for future purposes, create an identity blockchain network built on a solid technical structure, develop Dapps applied for several purposes and provide the basic and essential technical support for the application processes employed in various sectors such as entertainment, games, consumption, finance, asset management, social management, IoT, and supply chain management thereby increasing the value of the system by ensuring that people have more access to the financial services offered by Wallstreet in a seamless, transparent and instant manner.
Based on the existing algorithms coupled with high-performance, secure and anti-repellant Trusted Execution Environments (TEEs) developed by hardware, the Randomized Proof of Work (RPOW) consensus algorithm can attain the highest frequency level of transaction verification based on lower energy consumption and sustainable environment for mining operation. In the same vein, through the combination of distributed ledger and decentralization, it is possible to resist attacks and communicate synergistically. At the same time, it can attain the optimal level required by application in terms of speed, cost and scale.
Usechain is embedded with the blockchain technology to achieve greater responsibility and real commercial value to the society. It analyses Ethereum and Bitcoin network from several perspectives including performance, security, resource investment, risk and user’s participation. Usechain combines the various competitive and technical options of modern blockchain models, and utilizes one of the most vital and practicable consensus algorithm termed as Randomized Proof of the Work (RPOW) integrated with the identity mapping to explore a new and feasible alternative for blockchain.
The platform being the first mirror identity blockchain model enables people to control most of the nodes due to the overflow of unknown addresses, it also increases the possibility of the consensus algorithm of RPOW. In simple terms, it lowers the risk and problem thereby revolutionizing the whole system. To optimize the social contribution as well as the commercial value, Usechain was made to pass through comprehensive upgrades in the following features, which distinguishes it from all the current mainstream technology used in blockchain:
High-Level Security: Considering the POW, random algorithm that comes with intellectual property right can lessen the centralization rate of hashing power. Also, it can repel double-spending attack including attack that comes with 51 percent hash power and can possibly eliminate the probability of fork, which strengthens security and impartiality of network to the highest degree.
High Performance: With the application of random algorithm, every block will offer different degree of difficulty to all miners to regulate the supply of virtual harsh power, which can result in the spectacular increase of the transaction efficiency based on POW and erect the foundation for realizing the consumer usage.
Low Energy Consumption: Based on the features of identity mapping, the blockchain system can be used to eliminate the dependency on hashing power and can greatly reduce the depletion of energy consumption and computing resources.
Public Participation: Due to the fact that this system is secure and efficient, Usechain can adequately support mining via the mobile devices due to energy consumption and low resource, allowing the public to partake in the activities of the ecosystem.
Usechain is planning to build secure, attack-resistant, high-performance, and Trusted Execution Environments (TEEs) based on hardware to attain a high-level of consensus algorithm of RPOW to further address the issues relating to performance and security. The hardware will be incorporated into people’s daily life and routines coupled with its applications on mobile devices such as Pad, phones, PDA or even bands, smartwatches, and other similar devices.
In conclusion, this platform will lead the entire industry into blockchain 3.0 which is the era whereby blockchain will become the mainstream technology to ultimately change human lifestyles and activities. In this era, large-scale ecosystems utilizing blockchain as the decentralization and main infrastructure will increase rapidly, users will be reached via the large-scale Dapps and the human interactions and cognitive abilities will be thoroughly changed. It will also improve performance, security, and optimize the potentials of the platform.
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Author - Coltpython
