EdenChain ICO: EDN Token & Programmable Blockchain Economy?
What Is EdenChain?
Edenchain is a platform based on blockchain technology that allows all tangible and intangible values to be capitalize and traded. The platform uses smart contracts to capitalize all value assets to the token. The smart contracts integrate virtual and real economies to create a new economic system and a programmable economy. The platform improves security and speed through the application of blockchain technology to come up with programmable economics.
The advantages of the system include:
- Lower transaction costs as there are no middlemen
- It allows users to share the profits that intermediaries monopolize
- It will create a new market through the capitalization of new and foreign assets.
How EdenChain Programmable Blockchain Economy Works
The achievement of programmable economics is hindered by two challenges: performance and lack of secured connectivity. Edenchain solves these two challenges by using Merckle Tree + Namespace to solve the problem of performance by the execution of different Namespace in parallel. The system also uses E-Oracle technology for external system networking. The programs on Endchain are implemented in the SGX Enclave to ensure secure connectivity with external systems.
In the current system, intermediaries often provide services to buyers and the sellers in a bid to make transactions fast and safe. However, this comes at a cost. In programmable economy, blockchain technology and the existing economic system meet via the internet.
In this case, the programmable economy capitalizes on the tangible and intangible values with the help of blockchain technology and allows free trade through the internet. In programmable economy, the buyers and sellers connect directly without the need for an intermediary, which lowers the cost and simplifies the transaction process. The system also allows contributors in the network to get a part of the revenue.
The use of the blockchain technology further allows for the tokenization of assets such that they can be registered as part of the blockchain, traded with tokens and allow the use of IoT to automate trading.
Edenchain can be used for different industries including IoT, Initial coin offering (ICO), game, shared economy, finance among others.
The existing blockchain technology is not secure from hacker threats. However, Edenchain secure interoperability allows the smart contracts in the platform to interwork with external systems, which enhances security.
The use of Namespace allows Edenchain to perform transactions fast and in large volumes. This is because the technology separates spaces and executes transactions in parallel. As the transactions increase, the processing platform is organized by Namespace to ensure optimal performance all the time.
In the existing smart contracts, the processing costs for functions are based on cryptocurrencies prices. However, on EdenChain the costs depend on the number of executions regardless of the processing function. This makes the costs lower. Additionally, the platform was designed in such a way that the costs are kept reasonable.
EdenChain EDN ICO Details
The token referred to as EDN is valued at 1EDN=$0.06. The developers hope to raise $24,000,000 during the token sale where 10% of the available 1,000,000,000 EDN tokens will be available for purchase.