USECHAIN PLATFORM: THE REBIRTH OF BLOCKCHAIN TECHNOLOGY SYSTEM

zubbykay (39)in #ico • 6 years ago

Blockchain technology system basically started with bitcoin and then ethereum basically referred to as blockchain 1.0 (bitcoin) and blockchain 2.0 (ethereum). Bitcoin was the first first recognised and it was said to have certain lapses which include high consumption of power as well as low performance which is related to transactions. Ethereum was then later developed and was thus the second recognised on the blockchain technology system and it however improved on the lapses that was faced by bitcoin it also made easy the exchange of different cryptocurrencies as well as an effective crowd funding avenue.

Bitcoin and ethereum which were peculiar to the blockchain technology system brought innovative ideas as well as the idea of decentralised currency and smart contracts as well. It also brought more efficient and effective security as well as autonomous features to the society at large. Despite all these, blockchain technology system is yet to be generally accepted by the mass market because it still lacks or is lagging in certain areas that are efficient in the daily activities of humans. These lapses are said to be the bottlenecks which are faced by blockchain technology system which are major factors hindering it's global and mass acceptance or adoption.

The bottlenecks said to be faced by blockchain technology system hindering it's global acceptance includes the following:

LOW PERFORMANCE: Despite the fact that blockchain technology system has brought a lot of ideas ranging from innovative ideas, decentralised currency even down to secured and autonomous society, it is however said to be less effective and efficient in the area of it's transactions. When compared to other platforms like visa, it is however clear that the number of transactions performed by the blockchain technology system is very low. Blockchain technology system can only perform about 7 to 25 transactions per second which is low and can not meet up with the tremendous number of the global market and is thus a factor hindering its mass acceptability.
ANONYMOUS ENVIRONMENT: As earlier said the concept of the blockchain technology system dwells on one particular characteristic feature which is anonymity whereby the cryptocurrency address is not linked to any tangible information about the owner of the address in the real life scenario and as such is seen as a major avenue for fraudulent activities.
HIGH TECHNICAL DIFFICULTIES: The current stage of blockchain technology system is said to be the same level as the early beginning of the internet and also developing a flexible platform on already existing blockchain technology system is also considered under this context.
However providing long lasting solutions to the above mentioned bottlenecks will thus push blockchain to the next level and also increase its acceptance by the mass market.

Some solutions are however been laid down by a platform know as USECHAIN to tackle the stated problems of the blockchain technology system and the include:

Providing an effective and efficient transaction management process that will support millions of Dapps and also billions of users and thus improving its performance.
Linking the crypto address to real identity of the owner of the crypto address thereby creating no avenue for for fraudulent speculations.
Creating a more flexible, sophisticated but yet user friendly application protocol which will thus aid in breaking the barriers of low technicalities.

THE USECHAIN PLATFORM
The usechain platform is said to be the first platform to develop the first mirror identity blockchain ecosystem by using already existing technologies as well as technicalities on the blockchain technology system platform and it is also said to be integrated with multi level innovations and also structural designs which are all aimed at breaking all the barriers and bottlenecks of the blockchain technology system and in return providing an effective as well as efficient platform thus increasing it's chances of general acceptance into the mass market and thus attracting it's use or applications in other aspects of daily human life. Usechain focuses on solve the problems known as the impossible trinity and the end product is a more effective and efficient blockchain technology system.

DESIGN OBJECTIVES OF USECHAIN PLATFORM

The sole design objectives of usechain is to produce a more flexible structure which will be modified in such a way that it will be able to handle much more transactions in a second and once this is achieved, it will attract more users the system and as a result will basically lead to more chances of mass acceptance as well adoption of the blockchain technology system.

ARCHITECTURE DESIGN AND INNOVATION
The architecture design and also innovation of the usechain platform can be better explained using the diagram below.

THE PLATFORM TOKEN AND TOKEN DISTRIBUTION

The usechain platform will be managed or ran using an ERC20 compatible token which has about 20,000,000,000 in total supply and also will be termed the UST which means "usechain token". And it will be used to facilitate all the essential activities that will be critical in enhancing the proper functioning of the platform.