The advent of blockchain has brought much to be expected from the traditional system of transaction. With existing blockchain accommodating smart contract and building a trust based decentralized system for everyday transaction, it tends to make one wonder if we have seen it all on the blockchain revolution. Current blockchain platforms such as Bitcoin, Ethereum, Stellar lumen, NEO, ICON and AION offer security, interoperability, high performance and low processing fees but the real deal is how secured? How fast? And how low? Is the performance and fees. Then there is the issue with scalability which has generated a lot of conversation globally recently.
EDENCHAIN
Edenchain is a truly decentralized Blockchain which is been built to enable smart contract with a very secure ecosystem powered execute with high performance and low fees of transactions. In other words, this could be the better or improved version of the blockchain. Edenchain can be used in various aspect of industries and services such as Initial coin offerings for startups, finance, shared economy platforms Gaming etc. because of its ability to capitalize asset that are valuable in a secured ecosystem utilizing low cost.
Edenchain is a South Korea company based in Gangnam, Seoul. Edenchain is building a smart economy system which they refer to as “Programmable economy”. According to Gartner in 2015, the programmable economy is a natively smart economy system that support and/or manages the production and consumption of goods and services, enabling diverse scenarios of exchange of value both monetary and non-monetary. Programmable economy has the potential to disrupt the world financial and traditional system of transferring both value and logic.
Edenchain Model of Programmable Economy
The two challenge face by the programmable economy on the blockchain are poor performance and lack of secure connection. Edenchain bring a solution to these problems by using Merkle Tree + Namespace to solve the performance problem and provides security using MVT (Median Voter Theorem) as a consensus algorithm. The key program of edenchain are implemented on the SGX enclave to disable software and hardware attacks which father secure the ecosystem from internal and external attacks.
On the architectural level, edenchain would be structured as a permission blockchain consisting of three layers: distributed ledger layer, validation layer, bridge layer. Edenchain runs on the Ethereum Virtual Machine (EVM) and is been used in the validation process in the edenchain ecosystem. The bridge layer securely import data needed by an onchain smart contract alongside ofchain, the validation layer is where the transaction is been executed and verified while the distributed ledger layer is a place where data been used on the blockchain is securely store. Security is at the top of the edenchain priority as they are also implementing a global DNS, Multi-Datacenter pattern and Virtual Private Network (VPN).
Architecural layer of Edenchain
ICO
So far, Edenchain has raised $24m as ICO has closed and token will be distributed soon before it can be traded on any exchange as listing would be immediately. If you have any questions as regarding the technology edenchain is bulding chat the admin on their telegram channel t.me/edenchainio or visit the company website at edenchain.io for more information.
✅ @ogmaro, I gave you an upvote on your post! Please give me a follow and I will give you a follow in return and possible future votes!
Thank you in advance!
Hi ogmaro, your post is very nice because the project is well explained. Keep it up
Congratulations @ogmaro! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!