USECHAIN - THE FIRST MIRROR IDENTITY BLOCKCHAIN

Since 2009, the decentralized blockchain industry and technology have had a growth spurt. Bitcoin and Ethereum have respectively brought brand new concepts such as “decentralized currency” and “smart contract”to the blockchain world. The blockchain technology has enabled the possibility for society to manage itself.

Project Description:

Usechain is 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.

Product Features are hardware-based performance improvement, privacy-protected identity application, boundaryless identity ecosystem and top business school supported.

General functions of Usechain are voting system andmalicious address discovery and punishment mechanism. The Usechain voting system is one of the important components of decentralized currency. There is no leader, no centralized entity, and all decisions depend on the democratic vote. Usechain is an identity public blockchain, and all addresses in the chain are authenticated. In most cases, the user's identity cannot be tracked . However, if there are some evil acts in the chain, such as the behavior of piracy, malicious miners, etc., a special review committee will initiate a proposal to deal with illicit actions.

Compared with current mainstream public blockchains like BTC, ETH and EOS, Usechain solves the Impossible Trinity among scale, security and decentralization and provides a new way to design the application scenarios based on massive use of identity since it is built on MIP and receives multi-level reorganizations in underlying level of blockchain.

The Usechain foundation is estabilishing the first blockchain ecosystem that satisfies performance and scalability, identity-based, low technical barrier and can be applied to the mass market. The system has features like a new underlying framework of blockchain technology and real identity. It ia also built on a high-performance, secure and realibe infrastructure and can transmit massive value.

Token:

The name of the token is UST. Total token supply is 20,000M UST. Private Sale consist of 3 parts: Cornerstone, Early Bird and Last Call. Cornerstone and Early Bird was done. Last call continue with 2018-07-01 for 2018-07-31, BTC = 1,400,000UST. Softcap is 1350 BTC. Hardcap is 4500 BTC. 25% unlocked before exchange listing, 25% unlocked every 2 months thereafter, with total unlocked in 6 months.

The distribution of tokens: for Sale-45%, Community Rewards-20%, Technical Community Rewards -15%, Core Team- 15%, Marketing & Partner Support (with bounty comprising 6%) -5%.

Data:

Usechain partners are Grand Shores, Funcity Capital, Newdo, Milestone, Dynamic Fintech Group, jikexueyuon.com and others. Technical Whitepaper and project Whitepaper is available for download in English. As of August 02, 2018 in telegram - 57667 followers, facebook – 2120, twitter - 9436, medium-237. There is on wechat, weibo, github and bitcointalk.

Roadmap:

In 2016 was researched on algorithm of identity-based blockchain, put forward the concept of identity tokenization. In 2017 was designed principles and objectives, officially launched the Usechain project, designed system architecture and basic protocol, developed underlying public blockchain. In 2018 was develop fundamental functions of underlying public blockchain, developed address-identity mapping system, developed privacy protection system. In 2018 will be develop software-based RPOW consensus algorithm, develop enhanced smart contracts and TPOS consensus algorithm, launch the first DApp, will be developed cross sub-chain communication, will be building Usechain eco-fund to accelerate ecosystem development, develop multi-industry vertical community. In 2019 will plan making AI system of address behavior analysis, develop tokenized multi-node system, develop hardware-based RPOW consensus algorithm, launch decentralized exchange.

Team:

The team includes 18 people, which of them 1 founder and 1 co-founder.

Henry CAO is founder and CEO Usechain. Henry is finance professor at Cheung Kong Graduate School of Business, Head of the Department of Finance, Founder of the first Finance MBA program in China, Member of the Finance Society of America. Managing director of China Blockchain Application Research Lab, taught at the University of California at Berkeley, the University of North Carolina, Chapel Hill, admitted to the USTC gifted class when he was 13 years old, Yale University/ UCLA PhDs.

Baohong SUN is co-founder and CSO Usechain. She is marketing professor at Cheung Kong Graduate School of Business, Dean’s Distinguished Chair Professor of Market, Associate Dean, Former Chaired Professor at Tepper Business School, Carnegie Mellon University, editorial board member of "Marketing Science", "Journal of Marketing" and "Journal of Marketing Research", The world economic forum on future behavior, Renmin University of China, BS, USC PhD.

The team has 8 Advisors. Lucas LU is senior expert of Blockchain, Founder & CEO of 5Miles, Founder & CEO of Cybermiles (CMT), Served as Co-Founder & CTO for Lightinthebox (LITB), the first GM of Moible Taobao, China University of Science and Technology BS, SMU PhD.

Yin CAO is chief Blockchain Expert of Cinda Securities Co.,Ltd, Former member of E-residency of Estonia, Major member of the Technical Working Group China of Hyperledger Project.

Shangjin WEI is Director, The Jerome A. Chazen Institute of International Business, Columbia Business School, Research Associate, NBER, CEPR, Member, Council on Foreign Relations Non-resident Senior Fellow, The Brookings Institution Director, NBER Working Group on the Chinese Economy.

Qian MA is Founder & President of DataMesh, Chairman of Central Big Data Development Committee, Founder/Director of Shanghai Pingfu Asset Management, Former Vice President of Fortune Link Venture Capital Co., Ltd.

Allen YAN is Senior Internet Business Specialist, Chairman of the Board & CEO of AdChina, Founder of Lakeshore, Served for E-bay, Philips, and Alcatel-Lucent, MIT EMBA.

Stewie Zhu is Founder & CEO, Distributed Credit Chain. Serial entrepreneur in the internet and Fintech industry.

Jianfeng YU is China National "Thousand Talents" Expert, PhD of the Wharton School at University of Pennsylvania. Master of Yale University. Current chair professor of finance in Tsinghua PBCSF.

Jeff CAO is PChain Founder. The inventor of the 1st International Blockchain patent from China, the Co-Founder of ChinaLedger, the most influential blockchain alliance of China.