blockchain technology is a wonderful innovation that aims to bring decentralization, a system that allows everybody to have equal participatory rights instead of the one-sided wealth formula obtainable in our current system. In the Blockhain world there are different techniques and methods employed to reach agreement and consequently prevent cyber attacks on the network. This is known as consensus algorithms. Numerous discussions in and debates has been on the high about which algorithms works perfectly be it in a public and permissioned Blockhain, Many debates have been ongoing stating on which algorithm works the best, be it in a public or permissioned blockchain. Perfect can be an exceptionally obscure and expansive term which don't completely explain the concept of Blockhain. Furthermore, a good number of individuals are still looking for the good scalability, performance, security and so forth in the blockchain network, Therefore disregarding decentralization which is the main goal of Blockhain.
The existing consensus algorithms does not satisfy the concept of decentralization, an illustration like bitcoin and Ethereum proof of work (POW) where half of the hashing power originate from China's mining pool, and where larger part of mining exercises occurred in the areas where power cost is modest. Proof of stake (POS) this is typically contrasting option to substitute miners with validators. Validators get remunerated in light of the extent of their stakes in the mining pool, which means whoever has a higher stakes will has a higher proportion of blocks to validate. This approach rewards those with higher stakes more blocks and transactions fees which results in centralisation of power and as well undermines blockchain goals.
Another type of consensus algorithm is the delegated proof of stake (DPoS) this algorithm gives power to certain individuals that has assets on the blockchain to vote and select witnesses (trusted parties) to reach consensus more efficiently
THE USECHAIN RPOW CONSENSUS ALGORITHM.
The usechain innovative goal of creating new consensus algorithm (RPOW) is to emphasise the significance of decentralization. usechain ultilizes randomised method to allocate blocks to people to mine, usechain aims to give everyone equal chance to get block rewards by randomising individuals that will mine next block. The RPOW mechanism will adjust parameters on the mining probability in a way that those that frequently mine blocks (people with more hashing power and experience) will be given more difficult mining level while those that are new (people with less hashing power and experience) will mine less difficult level, this method gives everybody a level playing ground in mining block rewards. The approach will satisfy the concept of decentralized network where hashing power will not originate from a region.
USECHAIN
Usechain is the first public Blockhain built on mirror identity protocol and integrated with multilevel innovations in Technology and structure design which can be used to remove some glitches in the development process of Blockhain, provide infrastructure of technology for both virtual and parallel world
The combined technology of RPOW with mirror identity protocol will help to remove multiple creation of anonymous mining accounts, usechain technology of identity mapping helps to map data on-chain and identify off-chain will remain anonymous to ensure transparency and privacy security within the decentralized ecosystem
CONCLUSION
RPOW consensus algorithm can diminish the aggregate hashing power of the mining pools, limit power wastage and consequently increase efficiency and scalability with great degree of stability and speed which will enable faster Blockhain transaction
Usechain token
The usechain token (UST) is an ultility erc20 compatible token that will be used in the usechain network for many innovative developments.
Token type: ERC20
The aim of the project: $37 200 000 US (4,500 BTC)
Tokens total supply: 20,000,000,000
Available for sale: 45%
Whitelist: Open
Accepted cryptocurrencies: ETH, BTC
You can contact usechain on the links below
AUTHORS BITCOINTALK USERNAME: Crypto11021
[BITCOINTALK PROFILE LINK] (https://bitcointalk.org/index.php?action=profile;u=2116706)
