The invention of smartcontracts by Vitalik Buterin was a big step in the economy of the 21st century. Since they are very well suited for the production of efficient and relatively secure transactions, they have been applied to many vital technological areas. This increased the requirements for resistance against cyber attacks. Today in our review of the ICO project Eden Chain, which is aimed at solving the problems of modern Blockchain.
Problem
Professor of decentralization systems Ed Van Morsel divided the existing threats of smartcontracts into 4 categories:
- security. The threat lies in the existence of errors or weak points in the smartcontract directly, which can be used by cyber criminals. Without the elimination of these threats, it becomes almost impossible to further develop the Blockchain economy;
- performance. Here we can also mention the threats to the scalability of the Blockchain. Scalability and performance are the two most frequently discussed issues of the Bitcoin and Ethereum Blockchain. For comparison, Fred Ersham, co-founder of Coinbase cites statistics that Ethereum processes 7 TPS (transactions per second). At that time, how Facebook handles 157k requests per second. Without addressing these issues, the development of a new Blockchain economy is under threat;
- privacy. This threat occurs when the smartcontract is published and becomes available to all;
- the complexity of the development. To create smartcontract entirely without seams require high skilled are usually costly to develop.
Mark Flood, a well – known economist, cited another issue-secure connections. These are the places where the Blockchain systems connect to external financial networks. Accordingly, these peaks are the most visible and most potentially susceptible to cyber attacks on the Blockchain from external systems.
For example, Oracle already interacts with external systems via Ethereum, but this does not ensure the security of data from external systems that may hypothetically penetrate the Blockchain. They are directly connected to it and transactions occur between them. During this interaction, and can occur hacker attacks. This problem is waiting for a solution to ensure further scalability of Blockchain and smartcontract systems.
Decision
EdenChain solves the problems that are mentioned above. It is an economic platform that provides high speed and security of transactions. On the EdenChain platform, you can develop services that use smart contracts in your process. This provides a solution to the problem of secure connections. Because EdenChain technology is in places where the Blockchain connects to external financial systems.
The principle of EdenChain is very complicated from a technical point of view. This review will highlight the key points:
EdenChain uses E-Bridge layer technology. They are used to receive transaction data from several external sources. With the help of E-Bridge layers, the incoming data is encrypted using the algorithm by the theorem of Median Voter (MVT). This method allows Eden to ensure the trust of the Blockchain systems to the information coming from the outside.
EdenChain also uses the Merkle Tree technology, which isolates the nodes of the protected connections at the time of the transaction. In addition, it allows you to make transactions in parallel.
EdenChain uses modern programming languages. In addition to Solidity, this EVM from the company Dyerium. They did not go by creating a new programming language as it reduces the flexibility of the system without much advantage to solve the problems. Eden users create Blockchain applications using EVM and Solidity, which are controlled and improved by the community.
Project team
ICO
- The name of the token: EDN
- Smartcontract: Ethereum ERC-20
- Issue: 1,000,000,000 EDN
- Hard cap: $ 24 000 000
- Price: 1 EDN = $0.06
- Currency of investment: ETH, BTC, USD.
The distribution of tokens is as follows:
Summary
Projects that are aimed at solving the Blockchain problem are perceived by the community of evangelists with hope. Because lately it is celebrated as the search for a solution has been delayed. The EdenChain project is similar to the one that can significantly advance the industry. First, the approach itself is interesting, and secondly, a strong experienced team. If the project will shoot, the investors will be a lot of x.
Official resources of the EdenChain project:
WEBSITE: https://edenchain.io
TELEGRAM: https://t.me/edenchainio
WHITEPAPER: https://edenchain.io/wp-content/uploads/2018/05/EdenChain-Whitepaper_v1.2.pdf
FACEBOOK: https://www.facebook.com/edenchainio
TWITTER: https://twitter.com/edenchainio
REDDIT: https://www.reddit.com/r/edenchainio/
LINKEDIN: https://www.linkedin.com/company/edenpartnersinc/
AUTHORSHIP:
MY BITCOINTALK USERNAME: klimenok1991
MY BITCOINTALK PROFILE LINK: https://bitcointalk.org/index.php?action=profile;u=1238493
UNIQUENESS 100%: https://text.ru/antiplagiat/5b57201e499fa
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Thanks for the review! I will look at the project
Sir really this is very great post.I like it because this content is very strong and powerful especially in the field of latest digital technology.I learn and understand about new tech Edenchain from this precious post.Sir thank you very much for sharing this type of post.
Our thing is being done for you and your post.
A huge plus is the fact that the platform has already secured the support of reliable partners
he developers did a good job, because at the early stage of the project development they are not afraid to show their work at the blockchain conference in Seoul or talk about it in the media