UNDERSTANDING USECHAIN’S ORIGINAL RPOW CONSENSUS ALGORITHM
Usechain: The Future Of Blockchain Technology
This week I'm going to be giving my insight on the Usechain RPOW consensus. In my previous publication's I explained the role of identity in identity blockchain and how Usechain is different from other blockchain technologies.
You might have know now that since the introduction of the blockchain technology, there have been numerous blockchain platforms that have cropped up in recent years. However, none of them have the complete potential to be fully get absorbed by the mass due to several factors. Keeping this in mind there is a new blockchain platform that has come up those challenges the existence of all other blockchain platforms.
Usechain is one such blockchain platform that is based on the Mirror Identity Protocol. It is a platform that makes use of original RPOW consensus algorithm.
What is Randomised Proof of Work (RPOW)
Due to the identity mapping feature of the Usechain platform the use of RPOW has been made easy. The RPOW consensus algorithm was developed by Usechain keeping in mind the shortcomings and the benefits of the present consensus algorithms. RPOW consensus algorithm was developed to further improve the efficiency, security, and scalability of the platform. That’s because the present consensus algorithm that is in use is known to compromise in its values.
Current Algorithms and their Shortcomings
Other blockchains that are in existence such as Bitcoins, EOS, and Ethereum make use of various agreement algorithms. But first, let us learn what exactly Consensus Algorithm means. For example, the final scores of a competition are rated by different nodes. The consensus in the case of the final mutual agreement reached within the majority of the nodes on a single data value. However, there may be chances that the nodes are not able to record the main scores or the data properly which may result in all the nodes not being in agreement.
Currently, there are a number of consensus algorithms in existence. For example, Proof of Work, Proof of Stake, Delegated Proof of Stake and so on. These are used by various blockchain networks. In such a situation it is really difficult to find algorithms which have the needed effectiveness, scalability and also high-level security. All of the existing consensus algorithms lack in these features.
For instance, EOS make use of the Delegated Proof of Stake which does not allow a complete decentralization. That’s because there is only very less number of users who take the decision based on their stakes and thus, making the consensus a more centralized one.
BTC make use of the Proof of Work which meets the standards of scalability but then it lacked efficiency due to certain factors. Coming to Proof of Stake though it managed to meet the standards of efficiency it terribly lacked in scaling and security.
Usechain’s RPOW and how different it is from other Consensus Algorithms?
The main purpose of the consensus algorithm is problem-solving and this is why Usechain introduces to you the RPOW consensus algorithm in order to address this very purpose. For Usechain blockchain, RPOW is known to serve as the engine room. In order to determine account specific random number, it makes use of the verifiable random function. The combination of RPOW and mirror based identity protocol works as a great competitive advantage for Usechain.
The main advantages of Usechain RPOW are as follows:
It has the capability of handling external attacks from an outside source.
The users are allowed to make use of dApps with the help of which users can carry out mining of Usechain token simultaneously through mobile phones.
It also promotes high-performance that boosts the quality of confirming transactions.
It provides a fair and transparent ecosystem which encourages mining for everyone.
It also provides an energy ecosystem which is user-friendly so that more and more users can be supported without worrying about energy wastage.
So, these are some of the main benefits of Usechain’s RPOW consensus algorithm.
Token Allocation
Final thoughts
Thus, from the above discussion, it is clear that Usechain’s RPOW is better than all the other existing consensus algorithms. It can be said that RPOW was developed keeping in mind the shortcomings of the other consensus algorithms so that Usechain did not face the same problems as it is faced by the other blockchains technology.
If you wish to know more about Usechain or its consensus algorithm then, you can check links below for more questions and information and can even go through the whitepaper of the project.