Good afternoon, today I will tell you about the project, which will bring the blockchain to the highest level. The project revises old technologies, revolutionizes and introduces innovative technologies.
The mechanism of a new level of consensus is based on the modern technology of artificial intelligence, as well as on the technology of separation of the ruts, which allow to optimize the processing of transactions — the INS technology. This will improve the quality of the platform and more secure technology. The basis for the project is the principle of mirror identification blockchain.
The whitepaper of the project details the mechanism of the platform operation, the overall concept of the project, tells how everything will work, the project’s objectives, tells about the project team, the distribution of funds, the roadmap and the ICO.
How does the project ecosystem work?
Usechain strives to solve the problem of trust in our society. “Know your customer” is an important check in the finance industry. The project offers a completely new solution, the analogue of KYC (know your customer), it allows you to check any person, any business or asset with a blockbuster. Using smart contracts will create a deep trust in the project.
The team of professionals Usechain wants to balance the balance between scalability and security and make transactions insecure and efficient. Of course, personal data will be encrypted.
The platform uses a mirror identification protocol, combined with its own developments in the field of technology and design.
Problems and solutions
Bitcoin appeared at the very beginning of the emergence of cryptomir, the second known currency is the Etherium. Efirium first introduced smart contracts. The possibilities of the blockade do not have boundaries. However, with the advent of new technologies, it is necessary to solve various problems related to practical application. These problems include:
- Low transaction processing capacity. This is the main problem of all the detachments. For example, Bitcoin can handle only 7 per second. Ethereum-25. The new block platform promises to handle 10,000 per second. However, these are all promises, in fact on the way to this very many problems.
- Anonymity, promised by technology blockade. Hacker attacks and hacking violated the confidence of users of blocking technologies. Unfortunately, many projects have not been able to solve the problem of cyberattacks.
- technical problems. Often, crypto assets are located outside the access of their owner, and one error violates the operation of the entire system. Blockade needs new protection technologies.
Features of the project
- The platform declares itself as friendly to the user. Its task is to preserve the security of the personal data of the participants, while ensuring their reliability. All this
will make sure that on the other side of the monitor is not a swindler, but a real and conscientious person.
- Now on the platform there is a multi-level verification of users. This is an attempt to verify the participant’s data and compare them with their owner: a person or a company. In the future, everything will be much easier.
- RPOW algorithm allows increasing the bandwidth of transactions. This technology is analogous to PROOF-OF-STAKE.
- Network sharding. It will expand the possibilities of traditional blockade. It will solve the problem of the vulnerability of blockers to hacker attacks.
- Innovative standard of verification. It implements its standard for smart -contacts and will expand the functions of the project applications.
Scope of the project
This project will be convenient for those who need to confirm and identify the individual, namely: in payment services and applications of companies that deal with financial flows for various applications that use joint solutions to economic issues, in IOT, in insurance businesses, for issuing loans , for crypto-instruments and much more.
Usechain project team:
Henry Cao became the director and founder of the company. Professor of Finance at Cheung Kong Business School and founder of the first in China Master of Business Administration. The co-founder of the project is Baohong-san.Chief engineer is Shanli Zhang. Zhang is a highly qualified specialist in blockchain technology. Also, the team included a finance specialist, Feng Zhang, an Internet expert and an Info security expert. An experienced technical director is Andy Zhou, publicist Amanda Shen. Total in the team — 10 people and 6 advisers. They all have practical experience promoting start-ups.
Crypto-currency and ICO project
The platform has its own token — UST, on the standard ERC-20, Ethereum platforms. Total released 20 billion tokens. The minimum amount needed to implement the project, in relation to bitcoin is 1,350 bitcoins. The maximum summit required for the implementation of the project will be 4,500 bitcoins. The cost of the token relative to bitcoin is 1 bitcoin = 2 million tokens. 45% of coins issued will be on sale.
Use of collected funds: 35% — labor costs, 20% — advertising company, 20% — reserve fund, 10% — further development of the project, 6% — consultants and advisors, 5% — company work, 4% — legalization.
In the second quarter of 2018, it is planned to complete the development of the project and start a marketing company.
The project set a very ambitious goal-to revolutionize the system of blockade. A qualified team with experience in management positions. Developers optimized the development process, leaving scalability, security and decentralization of the block. The project has an excellent potential for growth and development. In the near future, there will be a revolution in the crypto world. And only real projects will take their place, and unpromising projects will go to the background. Usechain — a new format for project blocking, which has solutions for working in modern conditions.
Twitter : https://twitter.com/usechain