The blockchain technology has created new possibilities in diverse areas of application in the global economy. For instance, we now see cryptocurrency being used as digital tokens on the internet for financial settlements.
One of the ways in which the blockchain is disrupting the financial sector is its use for designing a marketplace for buying and selling assets - both tangible and intangible. In fact, the new structure called EdenChain is developed for people to capitalize and monetize valuables of different kinds.
What Kind of Platform is EdenChain?
EdenChain is designed to be a kind of blockchain-based marketplace in which participants can freely monetize their assets into tokens for trading without the obnoxious influence of intermediaries.
In this case, blockchain technology is adopted to create an automated economic ecosystem called a "Programmable Economy".
Eden has a unique 3-layer structure akin to a 3-storey building. The foundation is blockchain and the other layers are called Distributed Ledger Layer, Validation Layer and the Bridge Layer with each layer having different characteristics and purpose(s).
According to the Whitepaper, Distributed Layer is where data used on the platform are stored and only validated data can enter there. On the other hand, Validation Layer is where execution and validation takes place. Finally, Bridge Layer is the place where secured interactions with external systems take place.
Aside from the innovative 3-layer architecture, Eden also boasts of adopting special concepts to create a decentralized, asset trading market of smart contracts.
Assets to be traded on EdenChain could be tangible (which are of physical forms like gold, real estate, machinery, car, etc) or intangible (which are of nonphysical types like copyright ownership, trademark, patent, credit card points, reputation, time, etc).
For example, with proper agreement, you get paid for using your time to execute tasks as a freelancer for clients on fiverr. However, fiverr will always deduct a significant percentage, say 20% of your earnings. Which means that if you earn $100 on fiverr for working as a graphic designer, fiverr will deduct $20 from your money straight. Some other platforms even deduct more than that.
In addition, brokers earn huge commissions for helping you trade your stocks on the capital market. The funniest thing is that these transactions are even somehow sketchy and the brokers swindle unsuspecting individuals of hard-earned cash.
Fortunately, EdenChain is created to eliminate this problem and allow people to freely trade their assets in an open, secured and decentralized marketplace.
Now, let's look at the strengths and weaknesses in comparison with similar projects
Next Up: EdenChain- Part 2: Strengths and Weaknesses
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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Edenchain is adopting Blue Ocean strategy where they want to collaborate rather than compete so that it can pave way for mass adoption.
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Edenchain is an under the radar project that has gained a lot of popularity since it’s inception, every day people are talking about this project, It’s got high ratings on popular crypto websites even the crowdsale ended in less than 2 mins. I would be watching closely and would personally like to to see it succeed in the long run.
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Edenchain has the capability of changing the world we live in because it would find useful application in the world of IoT, Energy, AdTech, P2P finance, Healthcare and many other sectors.
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Any idea when tokens would be unlocked ?
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Hello, tokens will be unlocked in Q3, which is this quarter, You stay updated on the exact day by joining the announcement channel on telegram.
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Is token release going to be the same time with exchange listing ?
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It will be distributed slightly before exchange listing.
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The idea at the heart of Edenchain seems to have merit, and the company has brought in experts and advisors. This should be able to help deliver their product.
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Edenchain would eliminate the need for middlemen, which in turn would maximize the profits to be received.
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Are there any problems with listing EDEN? takes so long
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@resteemator is a new bot casting votes for its followers. Follow @resteemator and vote this comment to increase your chance to be voted in the future!
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With the EdenChain platform, users can capitalize tangible / intangible values, and trade them over the blockchain.
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Edenchain is committed to building a programmable economy, with a coin that is designed to quicken and secure business to business and peer to peer transfers does solve some issues in the current market.
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EdenChain is an exciting possibility, but there are some concerns I have about its viability in the market and the market cap that it will be able to hit. I’m hoping for the best anyways.
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