General questionsWhere is EdenChain incorporated?EdenChain Partners is incorporated in the BVI. Our registered office is Intershore Chambers, Road Town, Tortola, British Virgin Islands We also have an office registered in Singapore at The Arcade Building, 11 Collyer Quay, Singapore 049317.We are incorporated overseas because we have decided this will help reduce our exposure and risk to the potential of government regulations affecting the future of EdenChain’s development.
Where is EdenChain based?The team is based in Seoul, South Korea. The office is in Gangnam.
What is EdenChain’s vision?In one sentence, EdenChain is a blockchain-based platform that allows all the values to be capitalized and traded. The platform works on what is called a Programmable Economy Platform technology, and can capitalize and trade all kinds of assets.
We envision 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 interference of any middleman.
EdenChain believes that with the application of Programmable Economy, transaction costs can be lowered, profits shared among the community members, and a new market through the capitalization of foreign and domestic goods can be created.
What exactly can EdenChain do?EdenChain is looking to be the global platform for a programmable economy. We seek to build a highly secured inter-operable, high performance blockchain with low processing fees. EdenChain can be used in a wide range of applications and industries; to provide an ICO Platform for start-ups to launch their own ICOs across all sectors such as IoT, B2B, services, P2P Finance, shared economy and etc. EdenChain supports Solidity, currently the most popular smart contract language. As smart contracts are heavily used for sensitive services such as payment and settlement, stable and reliable smart contract programming languages are more important than programming languages that are easily written by developers.
What is EdenChain trying to solve?The successful implementation of Programmable Economy platform brings with itself two major problems—performance and non-secured connectivity. EdenChain focuses on solving these technical issues by employing software and hardware that can elevate the performance of the entire network and protect the blockchain against external hackers. Since EdenChain has the ability of monetizing all kinds of assets and executing secure, cost-efficient, and faster transactions, it can be adopted across various industries, such as IoT, Finance, Shared Economy, Games, ICO and etc.
Technology questionsHow scalable is EdenChain?EdenChain can execute a large number of transactions quickly. The Namespace technology employed by the platform separates unrelated transactions from each other, thereby allowing the processing of multiple transactions in parallel. We have no data consistency problem so adding more computing resources to system will increase performance in linear manner.
How fast is EdenChain?In theory, 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. Each namespace runs 1,000 tps. In this sense, with more computing resources available for use to deploy the namespaces, the total tps of EdenChain will scale linearly. We will need to conduct further tests to determine the exact number of tps.
How secured is EdenChain?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.
When will the MVP be out?EdenChain Alpha version will be out in late April.
When will we be able to look at Github?Our Github will be out in late April.
Will there be Masternodes?Yes, there will be Masternodes. More details about Masternodes will be announced as the team develops EdenChain.
Can DApps be built on EdenChain?DApps can be built on EdenChain.
What consensus algorithm is being adopted?EdenChain utilizes both a hardware and software solution to arrive at a consensus.
Firstly, EdenChain uses Proof of elapsed time (PoET), designed and marketed by Intel. This works similar to Proof of Work (PoW), but requires far less amount of electricity as a leader is selected at random to solve for the next block. The integrity of the selection process is secured by Intel’s Software Guard Extension (SGX). The second consensus protocol is Median Voter Thereom (MVT) for continuous-type data fed to the nodes by E-oracle servers.
EdenChain also has a unique triple layer architecture — the base layer, the validation layer (virtual machine), and the off-chain communication layer with oracles.
Does EdenChain support interoperability?Yes, it does with a highly secured interoperability between on-chain and off-chain services.
Governance questionsWhat is the total supply and circulating supply?Total: 1 billion EDN (no more tokens will ever be created)
Circulating: 400 million EDN
Is this an ERC-20 token?Yes. When the mainchain is completed in 1Q 2019, each EDN will be exchanged 1:1 with the main EdenChain token.
What will happen to the unsold tokens?Any unsold tokens will be burnt.
Which countries are restricted from investing in EdenChain?Citizens of the US, China and Iraq are restricted from investing in EdenChain.
What will drive demand for EdenChaincoins?Node participants will require holding a certain amount of EDN (i.e. masternodes). Service providers will also require EDN to provide blockchain services (B2B, B2C, C2C). Consumers will also require EDN to use the services of the service providers.
Service providers’ service deposits is a deposit you pay to use the EdenChain Platform. There are several reasons for receiving deposits in the EdenChain. The main reason is risk management. Service providers using the EdenChain platform will most likely issue coins. Since issued coins can be exchanged with other coins in the EdenChain, the value of the coins must be maintained and stable. Service deposits can be converted to resolve problems in the event of an incident and can be returned when the service provider terminates the service.
Consumers, like service providers, must pay for transaction processing costs or currency exchange costs with EdenChain. Another use of EdenChain is the use of Secured Wallet. Secured Wallets are hardware based and it greatly increase security compared to software wallets, reducing the risk of hacking. Consumers are required to pay a fee or deposit to use the Secured Wallet provided by EdenChain.
The node participant must deposit a certain percentage of the expected transaction processing revenue to obtain authorization to process transactions originating from EdenChain
How will EdenChaincoins hold value?EdenChaincoin introduces a hyperdeflation model to preserve the value of coins. Initially, tokens will continue to increase from 400 million through token sales, but starting in 2020, annual coins will be burned at transaction rates of a certain percentage, resulting in a gradual decline in circulation and coin volume. As the EdenChain Ecosystem is activated, demand steadily increases, but the supply gradually decreases, so prices can rise according to the principle of supply and demand.
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