EdenChain is a South Korean project on blockchain technology for implementing a programmable economy. A programmable economy is a young concept that indicates the future economic order. This is an intellectual economic system that supports production, managing the use of services and goods, even in expanded versions of the exchange of values - both monetary and non-monetary.
In fact,
this project is a large digital trading platform with the help of which it will be possible to capitalize any material and non-material resources.
Based on smart contracts, these values will be converted into EDN tokens.The new economic system will significantly reduce commission costs, ensure an honest and clear division of profits and, most importantly, form a new market.
In the fourth quarter of 2018, they organize a kind of marketplace, where tokens can be converted, and they
will release a mobile wallet. Also this month on GitHub should place the source code of the product.
The project team.
James Ahn is the founder, CEO. James has behind him twenty years of experience in the field of IT. He served as director of technology at the Japanese company CyberRenassance Inc., worked in the field of consulting, helping Korean IT-agencies. He is the author of four books on machine learning and finance. Teaches students at the university.
Jenny Ryoo is a co-founder, developer of blocking technology. Jenny worked for ten years in the field of smart networks, analytics and processing of Big Data and statistical analysis.
Among consultants there are two notable faces. This is
Don Chang and
Joongheon Kim - both have a Ph.D. The first worked in Oracle and VISA. Advises developers on issues related to blockchain and Big Data. The second acts as an adviser in matters relating to platforms for in-depth training and smart networks.
Key points.
EdenChain is based on the so-called exclusive blockchain. Exclusive blockchain is a technology in which the identities of all subjects of the chain are verified and installed, access to the processing of transactions is only with them. The rights to read data are similarly limited in most cases, although some rights may extend beyond the scope of operators.
Hence, one of the strongest aspects of the project is security.
EdenCnain is a so-called blockchain with the need for authorization. It is necessary to access the network in order to use its services. When you connect to the network, you will need to go through the authorization phase. What authorization will look like is not yet known.
Another strength of the project is the declared high performance. In general, performance is the weak point of almost any project based on the blockchain. Here is the number of transactions per second that the platform is capable of delivering:
Bitcoin: 7 TX / sec
Ethereum: 13 TX / sec
Visa: 8000 TX / sec
Facebook: 157,000 TX / sec
As we see, classical instruments, such as VISA, issue thousands of transactions, while Bitcoin and Ethereum can't issue more than 15.
EdenChain seems to have found a way out and were able to come up with a technology that will significantly increase productivity.
The technology is called the "namespace". The essence of this is: transactions, being formed, are automatically determined to one of the namespace blocks; this structure allows you to perform operations in parallel, at different levels, that is, at each level, the same transactions are performed and such levels can be as much as the network performance can afford.
The more miners - the more such units will be present.And finally,
the third feature is really low commission fees. Smart contracts will work directly with low commissions.
Half of all the funds received will be used to develop the technological component of the project.
In conclusion, I want to say that the future of the EdenChain platform is very good.
At the moment,
developers have a lot of big partners who also invest in business. Thus, the total capitalization may amount to $ 60 million, although this is not at all much, for the new blockchain technology.
