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So the main thing that's happening here is that in the first instance, using is a verb representing an action, which is expected.

In the second, the noun "the use" is representing an action, which means that other things happen - its arguments as a verb become arguments as a noun, for instance - but essentially, but turning the action into a noun, you can refer to it later as "it".

I'd generally use the second, but I tend to write in more formal or academic registers. It really depends on your audience.