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There was a huge relieve when the introduction of cryptocurrency was brought forth, so many businesses and companies adopted its use as a source of relief from the ineffectiveness and opacity experienced in the centralized system of data exchange. This is in addition to the sharp contrast of slow rate of data transaction coupled with the problem of few individuals being charge of data and deciding how it is controlled and governed.
The introduction of crypto currency was met with both acceptance and rejection. Acceptance on the part that there is an exchange of opacity for transparency and fluency for the rigidity experienced in the odd transaction system. The era of a Centralized, Monopolized market system was brought to a stop and the era of its decentralization begins.
Quite interestingly, there's another debate that the introduction of block chain and crypto currency despite its many advantages has some shortcomings which needed to be address before a complete approval by various institutions can be given for their usage in their companies application. Crypto currencies such as Bitcoin was considered to have an upsurge in its energy consumption coupled with its relative low efficiency in data transfer. Some other cryptocurrency does not boast of a complete decentralized market.
Fraudsters and criminals also had their day with the use of crytocurrency, their identity are protected under the guise of anonymity. Increase in the rate by which it is use for illegal transaction of data resulting into huge financial lose has caused many companies to have their approval being held back.
A critical look into the block chain and crytocyrrency world shows that the hush-hush of identity cases needed a review as this has drastically affected the global approval of the technological innovation
**A SOLUTION IS NEEDED**
Certainly more is demanded from the use of blockchain, the threat poised by the identity challenge must be brought to a close. This has propelled the collective mind of Usechain to produce a vision which has finally brought a close to this menace. The introduction newer innovations to the existing ones means security level is tighter and people can be sure of a more efficient exchange of data coupled with an high performance level.
This panacea is rooted on the concept of the combo of birth KYC and AML to get approval for different verification processes and companies can now take relieve in the new era of digital competence
**THE STRENGTH OF MIRROR IDENTITY PUBLIC BLOCKCHAIN**
The combination of several technological innovation is worth it. The resultant effect is felt round the globe. With the introduction of such innovations, one of which Usechain employed a complete decentralization is feasible. This is in addition to the higher level of security and optimal performance provided.
As the pioneer and leading company in mirror identity public block chain, there is a huge potential in the mirror identity public blockchain, this of course serve as the strength propelling the vision of this company.
The introduction of Ramdominized Proof Of Work (RPOW) in conjunction with previous ones having considered the Pros and Cons shows that there is a reduction in the threat and attack of the monopolized previous existing market system.
Some of the Advantages include;
1) The Right of Users can be effectively protected coupled with the accumulation of value identity, a resultant effect of consistency in transparency and efficiency.
2) Cryptocurrency payment that has been verified via a bypassed centralized system processed in a P2P connection is made feasible, this is termed as the decentralized financial System. The strength of the mirror identity public blockchain lies in the conceptual use of DLT (Distributed Ledger Technology) which broadcast the totality of the process thereby increasing the strength required to cause a beech of the tokenuzed credit data card.
3). Reliability and Trust is built as recorded information stored in the database using RPOW can not be erased nor corrected, hence the availability of collaborative attestation.
Several other advantages such as an economy rich in Credibility, Improved efficiency, and higher level of security of IoT app, entire public involvement, lower energy consumption as well as an higher level of performance as compared to previous and other existing cryptocurrency.
For more information, visit;
Website: http://www.usechain.net/
Whitepaper: http://www.usechain.net/usechain_en.pdf
Bitcointalk thread: https://bitcointalk.org/index.php?topic=3432061.0
Telegram:https://t.me/usechaingroup
Twitter: https://twitter.com/usechain
Author: Ifykiki
BTT profile link: https://bitcointalk.org/index.php?action=profile;u=2135409