In this article, let's analyze EdenChain according to its strengths and weaknesses
StrengthsThe major strengths of EdenChain lie in its adoption of blockchain technology and a super unique architecture to solve existing problems in the asset trading industry.
Blockchain confers on EdenChain, elements of decentralization, low transaction fees, interoperability, and scalability.
Another Strength that EdenChain possesses is in the use of a special 3-layer architecture and with other valuable concepts to enhance performance and security in comparison to other projects.
In addition, one other strength this project boasts of is the wealth of experience of its developers, quality of advisors, and strong industry partnerships.
The team of developers combined about 5 decades of experience in blockchain technology, Cloud, and Big Data on this project. For Example, James Ahn (the CEO and Founder) was a former CTO at CyberRenassance Inc in Japan and has spent over 20 years in IT. Ditto the others like: Jenny Ryoo (Co-founder and 10 years of experience in Cloud Analytics); Kangho Kim (CSO and partner at Byzantine Partners); Brian Park (Developer); Hokyun Kim (Developer); Jessica Park (Marketer); Kathy Roe (Marketer); Changki Park (Advisor: founder of Paxnet with 14 years of experience at Samsung);
Mirza Uddin (Advisor: investor at Two Sigma);
Aaron Tay (Advisor: Byzantine Partners);
Joongheon Kim(Advisor: Masters and PhD from the University of Southern California).
All have professional experience in IT or big enterprise according to their profiles on Linkedln.
In comparison with other projects using certain criteriaProject | Consensus Algorithm | Interoperability | Testnet tx/s | Permissioned Blockchain (Scalable, Energy efficient, Low transaction cost, Security) | Asset | Industry Partners | Supported Languages |
|---|---|---|---|---|---|---|---|
Ethereum | PoW | ❎ | 25 | ❎ | Native Asset | High | Solidity (the most popular smart contract programming language) |
EOS | DPoS | ✅ | 1000 | ❎ | Native Asset | Average | C, C++, or web assembly |
NEO | dBFT | ❎ | 1000 | ❎ | Native Asset | High | C#, C++, JavaScript, Python, etc. |
Edenchain | PoET | ✅ | 1000/Namespace | ✅ | Any Asset (Tangible or intangible) | High | Solidity |
Lisk | DPos | ❎ | 2.5 | ❎ | Native Asset | Low | JavaScript, TypeScript. |
WeaknessesMajor weaknesses with EdenChain in comparison with similar other projects is that its mainnet is yet to be launched and its market capitalization is still very low at $24 million. Although these shortcomings, just like any startup, will probably be forgotten when the mainnet is launched.
Major Expected Milestone: Mainnet by Q1 2019.
Final Thoughts
With all the points taken into consideration, we can safely conclude that EdenChain is a solid project for enterprises. They have done a great job to identify and solve issues in digital asset trading ecosystem. Pushing this programmable economy onto the blockchain community provides decentralization and sundry benefits for all.
Questions regarding this innovative platform, EdenChain are welcomed from our esteemed readers.
Additional information on EdenChain can be gotten from their Website or from the Whitepaper
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