USECHAIN AND IT RANDOMIZED PROOF OF WORK (RPOW) PROTOCOL

in #usechain6 years ago (edited)


The evolution of the blockchain technology can be trace back to its early ages in 2009. It was then the blockchain technology were birthed with Bitcoin and Ethereum the pioneer of this technology. This technology came with exceptional ideas such as decentralized currency and the smart contract which made it possible for us to easily transfer and store digital asset at ease.

Due to its usage and in a bid to improve its functionalities to satisfy its users, these technology began to experience some glitches which gave rooms for hackers to utilize the loopholes to steal digital assets from different public address (wallet). Since the blockchain technology that was designed to be among the most secure infrastructures could not live up to expections, users began to lose interest in digital currency (cryptocurrency) and the technology of the blockchain.

In order to effectively resolve the underlying problems in the existing blockchain technology and encourage massive adoption in other sectors of the world economy such as Finance, Agriculture, Maritime, Sports, Advertising, Social Networking and many more. Usechain became the first digital platform to introduce to the world The Mirror Identity Blockchain Protocol. This approach by Usechain is the first of its kind that will completely enhance and improve the existing blockchain infrastructures to meet the needs of the global market and also comfortably satisfy humans for massive adoption.

In my previous work, it was seen that the significant features of the Usechain platform and also the mirror identity blockchain were discussed. Today i shall be emphasizing on the Usechain and also its Randomized Proof of work protocol approach and how it will greatly improve the current conditions of the existing blockchain.

Usechain Randomized Proof Of Work (RPOW)
Since the emergence of the blockchain technology it was seen that the early blockchain technology such as Bitcoin blockchain 1.0, Ethereum Blockchain 2.0 deploy the proof of work (POW) and others came with the Proof of stakes (POS), Proof of Authority (POA) while the EOS blockchain utilizes the DPOS.

Usechain is using the Randomized Proof of Work (RPOW), first in the world and a blockchain 3.0 approach. The Usechain consensus mechanism is designed to bring transformations in the existing blockchain infrastructures and also to solve problems relating to scalability, adoption in the Global market and security.

One of the main reason why cryptocurrency and the blockchain technology is struggling to gain massive adoption despite its popularity is due to the fact that it is still impossible to track users real life personal profile to their wallet address, that is; it is difficult to determine an individuals worth in the crypto space and some persons utilize this space to carry out fraudulent activities. Hence it is part of the issues the crypto community is facing at present and Usechain have build a platform with advance technologies couple with modernize improve software and hardware to counter these issues and provide idea solutions.

How Its Works?
The challenges in the existing blockchain technology includes; vulnerability, high transaction fee, delay in confirmation of transactions and many more were greatly experience which limit users in utilizing the most disruptive technology. With Usechain's RPOW consensus algorithm, users and cryptocurrency enthusiast can finally say goodbye to the limitations in the existing infrastructures as this RPOW will reduced the hash power and at the same minimize the consumption of energy in the ecosystem so that mining can easily be carried out even with the use of our smart and mobile phones.

The RPOW will make transactions of digital assets as easy as possible. Such that there won't be any form of delay in the confirmation process with swift transactions. And in order to linked up users real life identify to their blockchain wallet address, Usechain will deploy its RPOW consensus mechanism to carry out Know Your Customers (KYC) and Anti-Money Laundering (AML) related issues. This will help to defined real life identity of users, meet up with the world rules and regulations for massive adoption.

Token Details
UST is the name that will be used in the Usechain ecosystem. UST is an ethereum (ERC-20) compatible. It has a total supply of 20,000,000 UST and holders of this token will be allowed to trade and send money to other platform without necessarily going through any intermediaries.

ICO Information
Token Name: Usechain Token
Token Ticker: UST
Token Standard: Ethereum (ERC-20) compatible
Token Type: Utility
Token Total Supply: 20,000,000,000 UST
Token Available For Sale: 45% of the total token supply
Token Sale Price: 1 ETH = 75,000 UST
Softcap: 1,350 BTC or 20,000 ETH
Hardcap: 4,500 BTC or 60,000 ETH
Pre-Sale: Successfully Ended
Public Sale Start Date: August 8th, 2018
Public Sale End Date: August 13th, 2018
Total Allocation of public sale: 2000 ETH
Minimum Contribution: 1 ETH
Maximum Contribution: 10 ETH
Accepted Currencies: BTC and ETH
KYC: YES
To Participate in the Usechain Public Sale, Kindly click here

For More Information, Kindly visit these links:
Website
Whitepaper
Telegram
Twitter
Facebook
Medium
Team
Github
Bitcointalk ANN

Author's Details
Bitcointalk Username: capableuwa1
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2077672

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Nice article. Well written!

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