Usechain is a Singapore based firm committed to getting self-sovereign identity Block local community substitute to the very famous BTC and ETH Block chains. Use chain incorporates a lot of impressive ecosystems these as Randomized Proof of Do the job a multi tried sharded system, connection with federal GOVTs IDs, and Social Media based mostly credit rating making, securitizing, lending plan on which lot serious, the regular living application might well be designed. Opportunity purpose includes IOT, Finance, Social Community, Supply chain and Internet Games. Usechain is committed to developing the first mirror identity blockchain ecosystem by shaping itself into a worldwide platform with a rich variety of application scenarios, the largest communities and the most advanced technologies. Usechian empowers identity and makes everyone on-chain with a very low barrier. Individuals can participate in the ecosystem by investing time, attention, asset, etc. to create value. Subsequently, participants will be rewarded fairly in the ecosystem, allowing value to be given back to the original users, thus eliminating monopoly and third-party giants in the current society.
A centralized identity management system also encounters other issues such as:
· Repetitive registration/KYC
· Identity risk
Our current personal data and information are not well protected and vulnerable to potential privacy breached. This is because many of the activities that we do, we have to identify ourselves such as registering for an online service, buying insurance, taking a loan or even going oversea. We are prone to doing multiple KYC and sharing of our information. This process has become repetitive.
Our information and data have been constantly shared with various business companies and online platforms so that we can access to the places or purchase products that we need. However, many of us did not realize that these actions put our identity at risk, potentially identity theft, breach of data, data leakage and misuse of information. This happen because E-commerce, social media and business companies have control of our personal data. Our private information is at risk of security breach in the hands of these centralized platforms and entities.
Rise of Self-sovereign identity
It shows that centralized identity management system has deficiencies. Self-sovereign identity allows individuals to have more control over their information and at the same time to be able to share minimum amount of information that the given party needs for identification. Usechain will be the first mirror identity project using blockchain technology to address the issue on centralized identity management
USECHAIN AND BLOCKCHAIN TECHNOLOGY
Usechain Innovative Blockchain Solutions Introduce 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. 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.
Commercial & Technical Strategy
“Usechain, the self-sovereign identity blockchain, is ultimately aiming to solve the trust issue in this society,” says Usechain CEO and Cheung Kong Graduate School of Business (CKGSB) Professor Huining Cao.
“KYC(Know Your Customer) is important to the financial industry. We have came up with a new concept that can map every person, every business and every asset to the blockchain,” says Professor Cao. “Every person or business will have a real account. We then transfer through smart contracts to build deeper trust.” By identity mapping, it will allow Usechain to meet the critical KYC standards of traditional financial institutions, shifting the focus on “who you are” to “what you can do”,making it more compliant to applications outside of its own ecosystem. It will also greatly reduce the cost of identity assurance and reform financial industry.
Engineered by a world-class technical team, Usechain will achieve a balance between scalability and security by fusing their unique “Randomized Proof of Work” (RPOW) revolutionized consensus built on identity with a multi-tiered sharding network to make transactions safe and efficient. Real identity information will be encrypted for privacy and mapped for legal assurance so as to be available to governments for investigations against criminal actions.
TOKEN AND ICO DETAILS
UseChain UST Token ICO Details
Token symbol: UST
Token sale date: 05/06/2018- 06/16/2018
Accepted payment method: BTC and ETH
Total token supply: 20000000000
Volume: 20,000,000,000 UST
Finite amount of UST created
Maximum token amount for sale: 45%
Marketing & Partner Support: 5% (with bounty comprising 6%)
Community Rewards: 20%
Technical Community Rewards: 15%
Core Team: 15%
Softcap: 1350 BTC
Hardcap: 4500 BTC
The next round whitelist will reopen at 7AM UTC, June 20,next will be the kyc and crowdsale
Price will be 1BTC=1000000UST,lock until exchange at mid July,cap is 1-5ETH
ROADMAP AND DEVELOPMENT PERSPECTIVE
Develop privacy protection system.
Form core community and achieve 50000+ people.
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.
Set up sub-chain structure.
Develop cross sub-chain communication.
Build Usechain eco-fund to accelerate ecosystem development.
Develop multi-industry vertical community.
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.
Above you can see the roadmap — how the team sees their nearest and long-term future.
TEAM MEMBERS AND ADVISORY MEMBERS TO THE PROJECT
Team seems to be the strongest part of this project. It consists of innovative and talented people. Of course I cannot complain if we talk about their professional level, guys indeed are experts on their field.
Usechain is committed to developing the the first mirror identity blockchain ecosystem by shaping itself into a worldwide platform with a rich variety of application scenarios, the largest communities and the most advanced technologies! Be a part of this tremendous project and follow these links for more information;
White Paper: http://www.usechain.net/usechain_en.pdf
Technical White Paper: http://www.usechain.net/usechain_tech_cn.pdf
Telegram group: https://t.me/usechaingroup
Telegram channel: https://t.me/usechain