The Basics of Usechain
Usechain is dedicated to developing the first mirror identity blockchain ecosystem. Based on existing technologies in blockchain, Usechain becomes the first public blockchain to be built on Mirror Identity Protocol and integrated with multi-level innovations in technology and structure design.
Multi-level innovations can be used to break the bottlenecks in the development process of blockchain，provide infrastructure of technology for the virtual and parallel world in the future，build an identity blockchain system built on a new technical structure，develop more widely used Dapps and provide underlying technical support for the application explorations in finance，consumption，entertainment，socialnetworking，games，IoT，supply chain management,asset management and social management and add more value to identity by allowing people to be connected to the financial service provided by Wallstreet in an easy，convenient and instant way.
The platform focuses on introducing a new consensus mechanism and a randomized proof of work to balance perfectly strong security and high performance.
In order to bring a new generation of blockchain, Usechain will use multi-level encryption and authentication methods, Identity virtual machine, zero proof, enhanced smart contract as well as other innovative technologies.
The Technical Aspect of Usechain
With the improvement in the ecosystem, the behavioral data that is generated by events and people will be transparent and irreversible on the identity-based ecosystem. Usechain has set a precondition where it uses the same level of security for maintaining privacy between identity and anonymous public blockchain. By doing so, the platform provides infrastructure that supports decentralized applications used in a variety of industries and at the same time bring a separation between identity and identity verification that has a basis on zero knowledge proof.
The platform’s official token referred to as UST is based on the ERC20 protocol on the Ethereum blockchain. Users can acquire the token during the initial Coin Offering. The main aim of creating the token is to give an opportunity for all participants to be involved in the building of the entire community. The token will also be used to reward the developers and supporters of the platform’s community as well as enabling the entire ecosystem to grow. UST will also allow every participant who hold tokens to use Dapp (Decentralized Application).
The funds acquired from the token sale will used in divided portions in human labor cost, company operation, marketing, platform development, advisor consulting, risk fund and legal compliance.
The Advantages of Usechain
The platform uses a secure infrastructure that focuses on sole identity mapping thus improving its application to scenarios that need identity.
The platform supports the participation of everyone worldwide. Usechain supports miningby use of even mobile devices because of its ability to use low resources and low energy consumption.
Through the platform’s characteristic of identity mapping, it can reduce its dependency on the hashing power of the Bitcoin and thus be able to reduce consumption of energy and computing resources.
The platform inputs resources of the highest quality to assist the global community to develop its ecosystem. This, in turn, unites application platforms and leading companies.
The Financial Aspect and ICO
Turning to the financial side of things, we see that the company has set out their stall and have a clear idea as to the direction in which they are heading. Furthermore, they have also made sure that their finances and requirements will be sufficient for them to ultimately launch their complete product.
As it is based on the Ethereum platform, they are apparently accepting both BTC and ETH as the investment source during their ICO. The price has also been set at 1 BTC equating to 1,000,000 UST. A significant amount of the revenue being used for business development and marketing.
There are also a total of 9,000,000,000 tokens being made available for sale, but aside from that there is relatively little information available about the ICO aside from the usual points regarding the burning of tokens that are left unsold.
Core Team
Advisor
Conclusion About Usechain and the ICO
There are a number of things that we can conclude about Usechain that will then make it easier for you to ascertain as to whether or not this could be something that is worth investing. Of course, nobody can accurately predict what the future is going to be like, but upon examining what it is that they are offering then it stands to reason that the future for this utility token could be quite good.
It will involve you having to determine how well this aspect is performing to ultimately decide if this is a worthwhile investment, but the basics are certainly there with this being worth considering even if it is on a relatively small scale.
Check out further details on their website and in their whitepaper:
Website：https://www.usechain.net/
White Paper: http://www.usechain.net/usechain_en.pdf
Twitter：https://twitter.com/usechain
Telegram group: https://t.me/usechaingroup
Bitcointalk: https://bitcointalk.org/index.php?topic=3432061.0
Author by Hari Hwang
ERC 20 Wallet: 0x231e6871A9fF14430594621C5fD85DbAb32FD3b7
