Usechain The New Generation of Blockchain Technology: A detailed ICO review
By Hari Hwang - tháng 6 01, 2018
Everyone is talking about the possibilities of Ethereum. It has a lot of options for developers who don’t want to create a whole new blockchain. But it also has its limits, and that’s why competitors like Stellar or ICON are on the rise. Today I want to have a closer look at another new promising guy in the ring and its upcoming ICO — Usechain.
Usechain is a platform that aims at developing the first ever mirror identity blockchain ecosystem that improves the use and utilization of blockchain technology. The platform aims at improving performance by providing a transaction management and support process that is efficient, identity based, and with low technical barriers applicable in the mass market.
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.
There are four main products offered by the Usechain platform:
- - Unlimited identity ecosystem
- - Application of privacy-protected identity
- - Improved hardware-based performance
- - Supported by the most popular business schools
Background of Usechain
SINGAPORE, May 3, 2018 /PRNewswire/ — “Identity is the new money.”New blockchain project Usechain is becoming the first-ever blockchain ecosystem to achieve self-sovereign identity for individuals and institutions. Usechain aims to fuse innovative technologies with off-chain identities to create a public blockchain ecosystem based on real identities, addressing the issue of distrust due to anonymity in current blockchainprojects, while maintaining uncompromised security.
According to a 2014 study from CTRL-Shift, the cost of identity assurance processes exceeds GBP3.3 billion per annum in the UK alone. Signaling reputation is very costly in the current financial industry and any other place that requires identity assurance.
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.
The Technology Behind the Platform
Usechain Multi-Level System
The platform uses a multi-level system for authenticating users of a particular resource. Those. the platform reliably links, for example, the address of a personal crypto-currency purse with the owner. Because The whole process is based on the technology blockchain, this information will be reliably protected from unauthorized penetration and use it for various purposes by intruders will no real.
Usechain RPOW — Consensus
RPOW — Consensus will provide more transactions per second with less energy consumption and will not be so demanding on the technical level of mining equipment. Yes, you are not mistaken. Usechain will allow for mining. Moreover, a function is declared in the platform, which will allow crypto currency to be mined using mobile devices.
Thus, the platform will provide a high level of security, high-speed performance and productivity, as well as reduce the consumption of electricity consumed.
Thus, the platform will provide a high level of security, high-speed performance and productivity, as well as reduce the consumption of electricity consumed.
Usechain Shading Technology
In the Usechain platform, is also introduced — shading technology. Sharding will only confirm that part of the transaction to which it belongs. This technology will increase the speed of transactions.
Usechain Unique Identification System
A unique identification system that will provide the opportunity to interact with the user only with his personal information, applications and resources.
Advantage Of Usechain Blockchain Technology
An important factor in the operation of the Usechain platform is the stability of its operation to the influence of any external or internal factors. This is the advantage of blockchain technology. Even in the event emergence of a problem situation, the blocks will simply be frozen until the situation is resolved in a specific order.
Usechain Payment Systems
We already wrote above that the use of the Usechain platform is possible in a variety of sectors of the economy and the IT industry. The platform can be used in payment systems and any financial applications that require personal identification, joint work or purchases applications, in crypto-exchange exchanges and applications.
What is Usechain (UST) Tokens aims to provide to its users
Usechain creates an ERC-20 standard utility token in the Ethereum blockchain, the UST token. The UST Token is designed so that everyone can engage in the development of the entire community and grow together in the identity blockchain ecosystem. Token UST allows people who have it to use Dapps, reward platform supporters and community developers. ICO token UST is held May 6 — June 16, 2018. The platform accepts token purchases using ETH and BTC.
What is Usechain Mirror Identity Blockchain function
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.
How will Mirror Identity Keep Safe My Identity?
Usechain will use identity mapping system to implement mirror identity. By doing so, authenticated user entities and addresses on-chain will be mapped. Hence, only the mapped relationship is recorded, while other information stays undisclosed.
This way, the mirror identity protocol is creating an environment where the users’ private information stays uncompromised with the help of blockchain technology.
ICO and tokens
The name of the Usechain platform token is UST. The total goal for ICO is 4,500 BTC. The ICO price is 1 BTC = 1 000 000 UST.
SELLING POINTS
-The World’s First Mirror Identity Blockchain.
-They have a strong team, with well-experienced advisors.
-The Identity threats is one of the fastest growing scenes in tech and it is far from being saturated.
-Usechain use case is extensive. It cuts across Identity and Security industries.
-They have a strong team, with well-experienced advisors.
-The Identity threats is one of the fastest growing scenes in tech and it is far from being saturated.
-Usechain use case is extensive. It cuts across Identity and Security industries.
Opportunities
- Usechain already has partnership agreements with the biggest names in the Blockchain market: Yahoo Finance, Albany Business Review, Cision, Market Watch, Yam and others.
- There are no projects like Usechain, this means reduced competition and ample time to establish their ecosystem before competing start-ups crop up en masse.
Road Map / Timeline
Q2 2018
Develop privacy protection system.
Form core community and achieve 50000+ people.
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.
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.
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.
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
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
Facebook：https://www.facebook.com/UsechainFoundation/
Twitter：https://twitter.com/usechain
Reddit：https://www.reddit.com/user/Usechain
Telegram group: https://t.me/usechaingroup
Bitcointalk: https://bitcointalk.org/index.php?topic=3432061.0
Author by Hari HwangMy bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1144837ERC 20 Wallet: 0x231e6871A9fF14430594621C5fD85DbAb32FD3b7
