Two factors that currently hold back so called blockchain-based Programmable Economy platforms are insufficient security and performance. Currently, there are solutions which improve the performance side of the challenge but they do so with a trade-off of security.
Such is the opinion of the Edenchain team. The team makes a good attempt to offer something that will solve both challenges – the Edenchain platform.
Edenchain will be the blockchain platform that will allow you create a marketplace for all your tangible/intangible values to be capitalized and traded on the 3rd generation smart contract blockchain. It can be used in a wide range of applications and industries: To provide blockchain platform for startups to launch their own ICO, IOT, B2B, P2P finance, shared economy, build dApps, and so on.
The team envisions a world where you are able to employ the blockchain smart contracts to capitalize any and every tangible and intangible asset into tokens and trade freely without the middleman.
The platform’s blockchain infrastructure is going to have three distinctive layers – the Distributed Ledger, Validation, and the Bridge Layers.
Distributed Ledger Layer is based on Linux Foundation’s open source project, Hyperledger Sawtooth, and works as a decentralized database for EdenChain. Validation Layer, where transactions are executed and verified, runs on an Ethereum Virtual Machine (EVM) with a smart contract functionality. Bridge Layer is basically an e-bridge that connects EdenChain with external data sources off-chain.
The main objective of the team is to tackle two major problems — limited performance/transaction cost and low security.
EdenChain is designed to be able to execute a large number of transactions quickly thanks to the Namespace technology. According to the devs, this technology “separates unrelated transactions from each other, thereby allowing the processing of multiple transactions in parallel.” The startup’s blog explains further, “EdenChain can handle an infinite number of tps because there is no limit to number of namespaces and transactions in each namespace can be ran in parallel.”
For security, EdenChain employs the E-bridge layer to retrieve data from numerous data sources, encrypts this data and makes use of the median voter theorem (MVT) to protect this data from being compromised.
Edenchain will not hold a private sale, and their crowdsale (EDN tokens) commences in late May 2018.
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