EDENCHAIN: THE ADVANCED BLOCKCHAIN THAT SOLVES SCALABILITY AND OTHE...

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INTRODUCTION
The potentials of the blockchain technology are unfolding rapidly and it is massively decentralizing systems, restructuring and improving on existing systems. Talking about improving system, blockchain has finally come in contact with economic system with new innovation called Programmable Economy. Programmed economy has opened new path to global economy.

What is programmable economy? Gartner in 2014 coined the name programmable economy and defined it as an economic system with contract technology that will give economic value to tangible and non tangible consumables and services embed on the blockchain trading seamlessly with the interruption of a middleman. Apparently, programmable economy primarily eliminates centralized economy system.

Challenges of the programmable economy on the blockchain

With the thrilling concept of programmable economy innovation relishes, the technology is greeted with two major challenges facing its implementation namely,

Low performance and efficiency to meet market demand

Bitcoin and Ethereum based blockchain has suffered setback in unable to handle sufficient transaction per second (TPS). Bitcoin and Ethereum blockchain can sufficiently accommodate seven (7) and thirteen (13) transactions per second in token sale which unfortunately will not be able to meet the market demand.

2.Security challenges in connectivity

In other to execute a smart contract in a programmable economy to unique external system, a high degree of connectivity is required to interact with these external systems to avoid security breaches during interaction and moreso work with multiple systems simultaneously. Regrettably, existing ethererum blockchain does not guarantee this.

Solution

Therefore, to overcome this challenge of programmable economy, EdenChain, a platform built on blockchain technology is been developed to tackle these technical challenages.

The technical issue of speed will be solved using a blockchain -based programmable economy platform. This platform provides a high performance processing speed that can handle more transactions per second (TPS) to meet the ever increasing market demands. With a combination of namespace and Merkel Tree, Eden secures performance and scalability by creating a system capable of executing parallel processing of numerous transactions simultaneously.

2.Edenchain is equipped with the capacity to use smart contracts to develop automated services. This will allow for the interoperability with external systems. Smart contract enables Eden to use E-Bridge layer to retrieve data from different data sources. In order to avoid security breaches Eden encrypts data while also incorporating Median Voter Theorem (MVT) to secure trust and to defend against attacks from hackers.

Eden Architecture

Eden is a permissioned blockchain and it comprises 3 layers which are the distributed ledger layer, validation layer and bridge layer. All data used in the blockchain are stored separately in the distributed ledger layer. Validation layer is where data agreed to are processed, executed and verified.

The third layer which is the bridge layer is used to securely import data which is that is required by an on-chain smart contract. These on-chain smart contracts are domiciled in the blockchain and it cooperates with an off-chain. Nodes naturally appear on-chain and off-chain with an E-protocol that implements encryption technique. This technique is known as Elliptic Curve Cryptography –Threshold Cryptography (ECC-TC) which enables effective communication of the on-chain and off-chain nodes.

Unlike the permissionless blockchain where smart contracts run in all nodes, Eden operates a permissioned blockchain to run and execute smart contracts quickly and efficiently in a trusted environment. This makes Eden an integrated platform that has a vast number of advanced distinguishing functionality.

E-protocol

E-protocol is used to bring communication among E-Oracle servers in an E-Oracle pool. The protocol allows for the interaction of all servers to access an external data and to reach an agreement over all collected data. This E-protocol can be used to encrypt stored data which removes the possibility that a hacker could manoeuvre and sneak into network packets.

Confidentiality on Eden
Eden platform will maintain a number of confidentiality based on the three confidentiality available. The first is confidentiality of smart contracts, the second is confidentiality of transactions and the third is Oracle confidentiality. These confidentialities ensure that there is security of all data and transactions going on in the system and security of transactions and communication going between the system and various external systems.

Other blockchain technologies based on the permissionless blockchain ensures security only for the blockchain while leaving external transactions susceptible to hacking, but Eden platform based on the permission blockchain ensures trust and security for all transactions both on-chain and off-chain.

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