EdenChain (EDN) ICO Review

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EdenChain is a decentralized social networking platform that is putting users privacy and satisfaction as its first priority. It is an innovative approach towards transparent and independent means of user data ownership, reward on ads and free of speech. It is the first get paid to content creation and sharing ecosystem that leveraged OCR token payments for its reward system.

Essential Information

Ico TimeUnknown – Unknown
Token NameEdenChain
Token SymbolEDN
WhitepaperView Whitepaper
Website LinkHome
Price1 EDN = 0.06 USD
PlatformEthereum
Minimum investment100,000 USD
AcceptingETh

More about EdenChain (EDN) ICO:

A Korean platform project built for the enterprises of tomorrow, raising US$24m hard cap. Through hardware integration, EdenChain strives towards a balancing act between leveraging the strengths of public blockchains with a high level of scalability, and security demands of enterprise companies.

EdenChain is a blockchain platform technology that can capitalize and trade all types of assets with the programmable Economy Platform technology. By using the blockchain Smart Contract, you can capitalize all tangible and intangible asset value into a Token (Tokenization). We use smart contracts to integrate real and virtual economies, creating a new and enormous economic system and programmable economy.

Programmable Economy: 1) It can lower transaction costs because there is no middle man. 2) It can redistribute the profits that the middle man has monopolized. 3) It creates a new market that has never existed through the capitalization of domestic and foreign materials, which potentially can enrich many peoples’ lives by returning the economic benefits back to them

EdenChain is a blockchain platform company that pioneers the era of the new digital economy. The new digital economy allows for the capitalization of any and every tangible and intangible asset such as stocks, bonds, real estate, and commodities amongst many others.

Our platform aims to replace existing assets with blockchain-based tokens by allowing their ownership to be registered. We believe that the application of the new digital economy will lower the transaction costs, increase shared profits, and create new markets for foreign and domestic investors.

EdenChain is optimized to support active decentralized financial activities.

EdenChain provides blockchain platform technologies optimized to support the decentralized financial industry. It allows all tangible and intangible values to be capitalized through smart contracts, enabling people to freely trade through the internet without intermediaries.

Secured transaction handling

EdenChain implemented JWT, KMS and a proxy system to build a mechanism that provides end-to-end security to all transactions. It minimizes vulnerability to insider attacks by hiding credential information from insiders with manifold security features.

Optimized for digital asset handling

EdenChain provides a simple and secure environment so anyone can create and trade digital assets that requires no programming. It also supports metadata storage on all digital assets, making it ideal to represent value of all types.

Support realistic ownership

EdenChain platform supports ownership closely models after real-life cases. The API designated to manage ownerships operates flexibly, handling multiple types of ownership with ease.

Eden is a blockchain-based programmable economy platform that provides high-performance processing speeds which address the aforementioned technical issues. Eden has the capacity to develop a variety of automated services using smart contracts, enabling interoperability with external systems. The core technologies implementing programmable economy smart contracts, have a greater technological and economic value than non-deterministic smart contracts that require off-chain integration rather than deterministic smart contracts that are operated only on-chain.

Conventional blockchain technologies such as Bitcoin and Ethereum are unsafe because they are exposed to hacker attacks. This is due to the lack of guaranteed trust in interacting with external systems that are normally required for non-deterministic smart contracts. Eden uses the E-Bridge layer to retrieve data from multiple data sources when a non-deterministic smart contract is interfaced with an external system. Eden encrypts this data and incorporates the Median Voter Theorem (MVT) to secure trust and to defend against attacks from hackers.

Performance is a vital technical issue that is essential to the implementation of smart contracts. Eden combines namespaces with Merkle Tree, isolates transactions based on its particular namespace, and secures performance and scalability by constructing an execution system capable of parallel processing by namespace. This enables the ability to carry out a vast number of transactions in parallel.

Eden supports Solidity, the most popular smart contract language at this time, as well as Dyerium’s EVM since smart contracts are heavily used for sensitive services such as payment and settlement. Stable and reliable smart contract programming languages are more important than the creation of an unnecessary new type of programming language.  The development of a new type of language requires a long time to be validated through constant testing and can be exposed to serious security vulnerabilities during this validation period. Eden constructs a blockchain using EVM and Solidity, which are verified and continually improved by the community.

Since Eden guarantees secured connectivity, one can fully realize a programmable economy by trading various blockchain-based assets on the Internet. Tokenization of any type of asset can publicly prove ownership of the asset and the owner of a particular asset can take part in both P2P transactions and transactions on exchanges.

Permissioned Blockchain

A permissioned blockchain has evolved as an alternative to permissionless blockchain technology, which allows anyone to join a network, such as Bitcoin and Ethereum. Permissioned blockchain technology must be authorized by a network administrator through an authentication process in order to participate in the network.

Newly emerging blockchain technologies such as Kadena, Tendermint, and Chain, adopted permissioned networks, and Hyperledger, a blockchain open source project for the Linux Foundation, also adopted the permissioned blockchain technology. Eden is configured with a permissioned blockchain to run smart contracts quickly and efficiently in a trusted environment.

In a permissionless blockchain network such as Ethereum, a smart contract runs on all nodes. This leads to significant problems surrounding performance and efficiency. All smart contracts are stored in an EVM within a blockchain network and are executed according to certain conditions. If a million, or a hundred million, smart contracts exist in an Ethereum blockchain, serious performance problems may occur. Miners within the network may prioritize running smart contracts from which they can gain higher profits, that is, those with higher gas, so all smart contracts may not be executed. Although individually running smart contracts on all full nodes are based on the philosophy of the permissionless blockchain technology, individually running and validating the smart contracts on all of the nodes at all times is not considered efficient.

Eden is a permissioned blockchain that builds and runs a trustworthy environment for smart contract execution. This is achieved with the use of a platform that not only ensures safety but also increases efficiency through the use of nodes within namespaces which helps guarantee 100 percent processing of all transactions.

Design Principle

The design principle is important especially when it comes to platform software because the principle resolves conflict among many software modules as well as giving guideline to keep architectural consistency.

The technical problems EdenChain wants to deal with consists of three items.

  1. To provide a scalable blockchain platform where required performance will be delivered with ease
  2. To guarantee a non-stop blockchain platform to its users
  3. To accelerate blockchain as a business service

So any design principle must meet those requirements: Scalability, High-Availability and Accessibility. All are adopted in the EdenChain architecture.

Scalability

As we know, scalability means increasing or decreasing processing power to handle all received tasks. Scalability is the top priority demanded by most of blockchain services since existing blockchain platforms are not suitable to process real world workloads. There are basically two options to smooth scalability: scale up and scale out. EdenChain achieves scalability through scale out.

The basic idea for the scale out is doing parallel processing in a distributed manner. Handling a massive workload simultaneously requires multiple computing resources which can digest the given workload in a distributed environment. So the scalability design principle forces one to have a design which allows for a workload distribution by algorithm, data structure and so on.

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