The new revolutionary project EdenChain is a blockchain, the developers of which state that users will not have a limit on the number of transactions per second. The idea is based on the creation of a platform that operates on the technology of a programmable economy. Its use will be relevant in all areas that use smart contracts in their activities.
In work, the project will use a new kind of consensus called "Proof-of-Elapsed Time". In it, the reward for the node that creates the new block is provided by the fact that the processor of the user's computer performs some functions that calculate the remaining time before the transaction is executed. For whom it is smaller, it also receives tokens.
This is a completely transparent algorithm, working on a random basis. This approach will exclude the receipt of bonuses only by certain specific stakeholders, but will give a chance to participate to all comers. This is the most liberal and fair approach from all currently existing
The system uses the developments of Intel, which will allow very fast and high-quality to carry out all necessary calculations. Miners can now simply put processors and do not waste time changing configuration parameters. The downside of this technology is that users will receive less money for this.
It is also planned to develop an ICO-platform. On it, users will be able to evaluate start-ups and invest money in them with very low commissions. You can invest not only money, crypto currency, but also tokenized knowledge, experience time and effort. Intangible assets will be useful for participation in ICO, as there will be no need to conduct KYC every time. Each user will have a reputation that he himself will create.
EdenChain platform is absolutely simple in operation and possesses such important qualities as reliability and high speed, with low commission.
To implement these conditions, an e-bridge layer is used, where complex calculations are transferred from blockchain to off-chaine. This is applicable only for heavy-duty smart contracts. After finishing the work, the system puts the results back into the blockchain. This approach significantly increases the scalability of the network.
The cost of processing smart contracts will lose its importance, thanks to the use of technology First In First Out. There is no point in increasing Gas so that the transaction is processed faster. The user sends it and it will be processed in any case.
In many other systems, smart contracts are processed at a certain fixed price. That is, regardless of the complexity of the request, the user paid the same price. In EdenChain, this system is absolutely transparent and the amount of money required will directly depend on the complexity of the operations performed.
This is very convenient for ICO, and therefore the first thing that will be launched into the work within the EdenChain project is the ICO platform.
Everyone knows that the success of Ethereum crypto currency is achieved due to the fact that it is used as a basis for ICO. EdenChain also claims to perform a similar function, but in a more convenient and improved format. It follows that his prospects are really amazing. At the same time, an atmosphere of healthy competition is created, which forces developers to constantly improve and modify their product. This will increase both the earnings and the efficiency of investments of all the users participating in ICO.
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