USECHAIN TOOLS FOR THE MIRROR IDENTITY PROTOCOL

in #blockchain6 years ago

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(Identifying your transactions)

INTRODUCTION

The development of blockchain led to the first cryptocurrency, Bitcoin. Bitcoin led to the boom of the cryptocurrency industry because of it value, decentralized nature, security and low transaction cost which attracted investors globally. With time the demand for cryptocurrency began to rise, it users needed this digital asset to become a more flexible mode of payment, which led to the development of the Ethereum smart contracts. Ethereum smart contracts took the world to the blockchain 2.0 Era, where users apply these contracts to agree payments to different exchange and other services.

PROBLEM WITH THE CURRENT BLOCKCHAIN

Even with the boom and different solutions to the demand of the blockchain technology, it is still not widely accepted because of the poor security level attached to the poor identification and verification techniques. The current on-chain address is centered on anonymity which is not in relationship to the off-chain address, hence the room for fraudulent activities, money laundering, illegal fundraising, etc. This reason alone had led many countries, individuals and organizations to deny the mass adoption of this beautiful innovation.
To initiate the mass adoption of cryptocurrencies in flexible and multiple scenarios, the world requires USECHAIN solutions.

USECHAIN IDENTITY MAPPING SYSTEM

USECHAIN solution is to establish a link between the on-chain and the off-chain address using an Identity Mapping System. USECHAIN has achieved this by developing the first mirror identity blockchain ecosystem to improve the transaction verification process that derails the mass adoption of cryptocurrencies. In the identity mapping verification process only the mapping relationship (address) is stored in the blockchain making sure that the Identity off-chain remains anonymous and secured.

USECHAIN FIRST MIRROR IDENTITY PROTOCOL

Usechain is a decentralized ecosystem that has integrated the first mirror identity protocol and other multilevel innovations to solve the impossible trinity of scale, security identity and all other factors that suffocates the blockchain technology. The aim of usechain is to provide an ecosystem that provides an efficient security, identification system and an environment that supports every user daily activities irrespective of the amount of mass and transactions.

THE ROLE OF IDENTITY IN IDENTITY BLOCKCHAIN

Usechain Identity works when several connections are established, these connections can be easily shared using a transaction sharding technique and a network sharding technique. To understand the role of identity in identity blockchain we need to take a closer look on how the identity sharding works;

  • Transaction Sharding: This functions with frequency, the frequency of transaction between associated parties in a shared connection.
  • Network Sharding: This functions with Speed, it is based on the commonalities in identity information in a shared connection.
    The role of Identity in Identity blockchain helps to improve scalability on the blockchain and also improve the performance on the blockchain network system.

TOOLS FOR THE MIRROR IDENTITY PROTOCOL

  1. Multi-level Authentication Mechanism : Here a mapping relationship is created between an on-chain and off-chain identity in which only the mapping relationship is stored in the blockchain without exposing any information of the user. This authentication process functions efficiently without damaging any privacy security.
  2. Network Sharding Technology : Based on user account address, transactions can be confirmed within the sharding that the address is attached to, which helps to reduce confirmation time, prevent double-spending and also bring about the multiple confirm of transactions per time.

To learn more about Usechain's Original RPOW Consensus Algorithm, click thr link below;
https://steemit.com/blockchain/@elmichaels/a-review-on-usechain-s-original-rpow-consensus-algorithm

MEET THE USECHAIN TEAM
find a detailed reveiw/eveluation of the Usechain Core Team with the link below;
https://steemit.com/blockchain/@elmichaels/an-evaluation-of-the-usechain-core-team-by-kingairdrop

For further enquiries,, kindly contact Usechain through their official;
Website: http://www.usechain.net/
Telegram: https://t.me/usechaingroup
WhitePaper: http://www.usechain.net/usechain_en.pdf

Authors Details
Name: Michael ELijah
Bitcointalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=1862137

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