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#1 2020-09-13 07:29:03

Jaunita37N
Member
Registered: 2020-09-12
Posts: 11

EdenChain uses Proof of elapsed time (PoET)

Frequently  Asked Questions .
General.

Where is EdenChain incorporated

Eden Partners is  incorporated  in the BVI.
Our registered office is Intershore Chambers, Road Town, Tortola, British  Virgin  Islands.
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.
How 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.
Will there be Masternodes.
Please check the blog.https://dev.edenchain.io/edenchain-masternode-pooling-program-edited/                                           Can dApps be built on EdenChain.

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.
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.
When will the master node program start.
The master node program will be initiated only after the Mainnet is launched.
What do I need to do to participate in master node program.
Please check the blog.https://dev.edenchain.io/edenchain-masternode-pooling-program-edited/                                           How will EdenChain select master nodes.
Selection details will be announced after mainnet launch.
How many dApps are expected.
In year 2019, we expect around 10 DApps to build on the Edenchain platform                                           What if there is very low amount of stakers.
As EdenChain is a permissioned blockchain and uses cloud services, the functionality of the network will not be affected by staker volume.
That said, in the event where there are insufficient hyper nodes (that fulfill our requirements) to proceed with node governance, we may promote selected super nodes to hyper nodes status.
Governance.
What is the total supply and circulating supply.
Total: 1 billion EDN (no more tokens will ever be created) Circulating: 613 million EDN                                           Is this an ERC-20 token.
Yes.
In the near future, .

Each ERC-20 token will be exchaged with the EdenChain native token at 1:1 ratio
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 EdenChain coins be used.

As the EdenChain Ecosystem is activated

dApp users are supposed to spend Eden coin as designed in the dApp such as paying fee, buying items, using special features and so on.
As the number of dApp and users are growing, what user can do with  Eden coin will be increased.  Edenchain will desperately try to enrich ecosystem to generate real usages for EDN for longterm sustainability.

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