Edenchain: The Programmable Economy Platform
Edenchain is a blockchain-based platform that can be used to capitalize and trade all types of assets through programmable economy technology. The use of Edenchain’s programmable economy platform includes the following advantages:
1. It can lower transaction costs due a system that is bereft of a middleman
2. It can redistribute the profits that the middleman has monopolized.
3. It creates a new market that has never existed through the capitalization of domestic and foreign materials; this in turn can enrich the lives of many by returning the economic benefits back to them.
Edenchain’s key programs are implemented in the SGX Enclave to disable software attacks and hardware attacks, further enhancing secured connectivity when interacting with external systems. In addition, Edenchain incorporates Global DNS, Multi-Datacenter pattern, and Virtual Private Network (VPN) Hub technology in order to ensure secure services despite the potential occurrence of situations that may disrupt local systems such as natural disasters and large scaled attacks by hackers.
A Programmable Economy
The Programmable Economy is born when blockchain meets the economic system. This is a new economic system that capitalizes tangible and intangible values with blockchain technology, and freely trades through the Internet without the need for a middleman.
In such an economic system, the general public cannot participate in the network, so the middleman monopolizes the profits from such trades. In our Programmable Economy, the buyers and sellers are connected directly with one another. As a result of this, transaction costs are lowered, and the entire process is simplified.
Tokenization is the process of converting certain types of assets into tokens within the blockchain network. Existing assets can be replaced with blockchain based tokens and their ownership registered with the necessary conditions specified through a smart contract according to the characteristics of the assets.
“A set of promises, specified in digital form, including protocols within which the parties perform on these promises.” (Szabo, 1996). It can be referred to as an “automated trade agreement” that functions without human intervention if the conditions specified in the contract are met. Smart contracts are the key to building on the blockchain because the set conditions can not be easily modified by any party. The ease of availability of smart contracts on Edenchain will ensure global adoption of the blockchain.
Example of smart contracts are: Bitcoin Smart Contract; Ethereum Smart Contract; NXT Smart Contract.
2. Technical Motivation
Tokenization forms the basis for smart contracts to be regarded as a key element of the programmable economy. These smart contracts should possess some cyber security activities because they deal with a large number of transactions and sensitive data. Smart contracts operate as autonomous actors whose behavior is completely predictable.
Some smart contracts are vulnerable to hacker attacks and lack secured connectivity to external platforms. Others are highly secured but require very high transaction fees to operate with. The few smart contracts that have both security and low transaction fees are barely scalable and very slow. Edenchain smart contracts are programmed to be fast, reliable and scalable.
Edenchain is a blockchain-based programmable economy platform that provides high-performance processing speeds which address the aforementioned technical issues. Edenchain has the capacity to develop a variety of automated services using smart contracts, enabling interoperability with external systems. Edenchain uses the E-Bridge layer to retrieve data from multiple data sources when a smart contract is interfaced with an external system.
Edenchain utilizes cloud services to ensure a high degree of availability and operates an Eden system with a multi-datacenter pattern using a global DNS and a load balancer. The same system that provides the Edenchain service is configured and operated in each service zone across major continents such as Asia, North America, and Europe, and it can provide a stable service despite attacks from hackers and or the occurrence of natural disasters.
Edenchain already has two MVPs out- E-Edge and E-Explorer
E-Edge is a web interface for developers to manage APIs and namespaces. The E-edge enables programmers test the validity of their applications with ease and also makes it easy for owners of applications to move it to Edenchain with ease.
E-Explorer is similar in functionality to Etherscan but most importantly, it allows non-technical users, with minimal knowledge about blockchain technology, to view transaction information and block information. This enables transparency and accountability tenets of blockchain technology, by allowing users to easily verify the status of their transactions and to view the history of transactions. It also enables viewing of related transaction and its stable, has high performance and makes use of the computing resources easily.
Edenchain is a revolutionary blockchain technology that improves speed and security, which are typical technical requirements for applying block chain technology to programmable economics. With a solid team and a string of partners, Edenchain is the community responsible for the global adoption of blockchain.