USECHAIN AND IT'S RPOW CONSENSUS ALGORITHM
We have seen the rise blockchain and decentralization. We have also witnessed the first generation and second generations of the blockchain in bitcoin and ethereum respectively. The third generation is before us.
Also, this decentralized platform is basically used for the exchange of cryptocurrencies; however, the community hopes other applications will surface sooner.
CHARACTERISTICS OF THE EXISTING BLOCKCHAIN TECHNOLOGY
The security is volatile. There was no absolute guarantee of the security of data, funds and so on. In other words, they are at the owner’s risk. Scammers or hackers could get access without much difficulty.
Again, every transaction has a number that it can accommodate; bitcoin could handle just seven transactions for every second (TPS) and ethereum is 18 TPS. You can imagine how many transactions it would be able to perform in a day and then in a year. One implication of this is that, so much power would be consumed in the process and this not a good feedback.
The crypto community is small and the focus is on how it can get more coverage and so have a real world impact. What do I mean? The impact of our current centralized economy is not receiving enough threat to its existence. You cannot walk into a convenience store and make a purchase with any of the cryptocurrencies or found in our banks.
The impact of the cryptocurrencies still remains virtual and as such only utilized by a small community. And for optimal participation with real world involvement, then something new has to be proposed – the usechain project.
INTRODUCING THE USECHAIN PROJECT
The usechain project will likely move blockchain 2.0 to blockchain 3.0. Usechain is a blockchain powered project. It is a project that employs the use of technology of mirror identification to the system.
There is one unique feature adopted by this project – Random Proof of Work (RPOW). RPOW is one feature we hope to look forward to in the third generation of the blockchain.
So what are those solutions does the RPOW offer?
First, The Random Proof of Work offers increased efficiency in service on the platform. The usechain is compatible with decentralized application – Dapp. This is will facilitate the more of transactions and more users of the platform.
For the world to have an appreciation of the blockchain and cryptocurrencies, the performance level needs to be stepped up. And as such the rate of the number of transactions in the usechain is increased and more so, the usechain platform can be able to accommodate more users for more participation.
Like the name implies “random”, there will be no unified hashing power of block for miners. Rather, there will be uniqueness in every block. This uniqueness will create an increased efficiency in transactions. An effect of this change can be seen in the reduced consumption power usage in mining.
On the issue of security, the hashing power mode of attack will be done away with RPOW on the platform, more so the platform is highly encrypted that makes it difficult to break through.
TOKEN SALE OVERVIEW
TOKEN SALE: 20TH JUNE
TOKEN TYPE: ERC20
TOKEN PRICE: 1 BTC = 1,000,000 UST
FUNDRAISING GOAL: 29,200,000 USD
TOTAL TOKENS: 20,000,000,000
AVAILABLE FOR TOKEN SALE: 45%
However, token sale was successful and you can only purchase Usechain token (UST) from the exchange after it's being listed
In summary, usechain is introducing to the platform a Random Proof of Work ( RPOW) with mirror identity technology that will take the blockchain to a new level, increase more participation, increased efficiency and security to the platform.
For more information, visit the links below;
Twitter - https://twitter.com/usechain
Author Bitcointalk username- ijsera82
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