What is Usechain?
Usechain is a project that’s dedicated to creating the world’s first mirror identity blockchain ecosystem. Based on current blockchain technologies, Usechain is integrated with multiple levels of structure design and technology.
Compared with public blockchains such as BTC, ETH, and LTC, Usechain solves the Trinity Among Scale. And it uses decentralization and security to provide a new method of designing the application scenarios based on the use of identity since it receives multi-level reorganizations on its blockchain.
Usechain uses adding value to identity as its main idea. The project aims to make a new commercial model of blockchain based on the MIP (Mirror Identity Protocol) and multilevel reorganizations that go beyond traditional models such as the “identity trust model” and the “identity data economy.”
Usechain will input resources that are based on their solid technology foundation, academic and commercial support from business schools.
- Low Technical Barrier: Usechain will use smart contracts to assist in creating a more flexible and sophisticated definition of the application protocol. Its accessibility will create a user-friendly experience for new investors that want to get involved with the ICO.
- Identity-Based: Create a connection between the off-chain identity and the on-chain addresses to meet the requirements of AML and KYC. This makes it possible to be adopted in insurance, loans, daily consumption, etc.
- Scalability and Performance: Provide transition process management and supports the deployment of Dapps to be used by millions of users.
- User Incentives: Users can create value by investing time, assets, attention, etc. and receive returns from the ecosystem. The identity value in Usechain’s ecosystem will give back to the owners that will possess the main rights of the after all of the participants to reach a consensus. This will eliminate oligopoly and interest center by helping to create a “virtual society.”
- Built to Scale: Usechain is designed to support large-scale transactions to meet the demands of millions of users. This helps manage the huge range of social and commercial applications that are on the platform.
- Identity Virtual Machine: The IVM (Identity Virtual Machine) is the new standard for creating a high-performance smart contract. This can be sandboxed and defined with some applications.
- Limited Location: Usechain is only used in Singapore. This makes it harder for users in the US to invest in the platform. We hope that Usechain can expand to other countries as it continues to develop in the future.
- Whitepaper Clarity: The whitepaper has a multitude of technical speak and errors. This can be difficult for investors to get involved with the platform.
- Team Experience: While they do have an established team, we don’t know if they have any experience in completing projects. So we’ll have to see how they’ll complete their roadmap over time.