The pioneer digital platform for payment of educational related fees - EDGECOINPAY

PREVIEW OF EDGECOIN

The politicians and government officials of many countries are promulgating policies against the decentralized finance system with the aim of undermining the progress of the system, because they see it as a threat to the centralized finance system which they use to suppress the masses with some financial policies that are harmful to economic development. These policy attacks on the Defi system have discouraged both old and new members of the system from investing more on the system, thereby causing the development and growth of the system to move at a low pace.

Although a lot of Defi platforms have been established with various features and decentralised applications, none of them has provided solutions to the challenges encountered in the payment and processing of education institutions and related fees. These challenges led to the establishment of the Edgecoin digital payment platform.

VISION OF EDGECOIN

The management of
EDGECOIN envisioned establishing the first secured digital platform for the payment of educational and related fees. It has launched a Decentralised Application where its users can login to make their payments.

Interested institutions across the globe that want to partner with the platform will have to register in the EDGECOIN Application and complete the AML process. Also, any individual that wants to use the application will complete the KYC process. To make a payment in the App, users sign in, complete the KYC, and deposit EDGT coins which are converted to the USD at the ratio of 1:1. Then proceeds to make payment with the dollars.

Users do not have to take permission from anyone to do any transaction in the application. Transactions in the app are built on smart contracts and processes fast. Therefore, they are safe and transparent, and also saves costs and stress of making payments through the banking system.

The platform is built on the Stellar network that has great and numerous applications which will give Edgecoin users some perfect services. The network has the fastest processing speed. It processes transactions within 5 seconds, unlike other platforms, it takes as low as 0.00001 XLM charge to process a transaction which can be refunded, and a fully secured transaction.

EDGECOIN TOKEN (EDGT)

The Edgecoin platform is governed by a crypto currency known as EDGT. Every transaction in the platform is executed with the EDGT. The management will supply 10 billion EDGT to the community for the project, and institute measures to control the availability of the tokens to protect its values. The "Build" custody method will be used to supply EDGT to the community, which requires online and offline approval of the supply of the tokens. It is valued at the ratio of 1 EDGT to 1USD.

GRADECOIN

The EDGT has an integral coin which is used to actualize the control of the Edgecoin community. It is known as Gradecoin (GRTC). It can be fractioned and has no limit. 1 GRTC = 0.05 USD (RESALE VALUE).

The GRTC can be used to support smart contracts that do not have qualifying digital identities to gain priority. The GRTC token can be staked to earn more. Tokens staked for 10 days can earn up to 20 in interest annually. It can also be staked in the soft-staking process that gives up to 5% annual interest.

Members of the community who help in the processing and validation of contracts in the Edgecoin system are rewarded with the GRTC tokens. It can also be used to settle cross asset intermediary currency differences, payment of block transaction fee by all participating networks in the Edgecoin system.

CONTRACT SPECIFICATION

The Edgecoin contract is established on Stellar network based on XLM standard. It will be technically upgraded to ensure strict accordance to 1:1 of the EDGT to USD. The following measures will be adopted in the platform

Addressing security flaws.
Extension of new features
Improvement and optimization of the operations of the platform to ensure efficiency
Execution of legal obligations and requirements of the laws and government agencies.

Every smart contract in the platform must get custodian approval. An online or offline key is required to approve every transaction

The approval process involves the introduction of a Build in the Store of the Edgecoin ledger through a Proxy. The newly introduced Build replaces the old Builds and henceforth, instructions are taken from the new Build, while the old Build becomes invalid.

Contract Security

There are measures established in
the Edgecoin system to ensure its security. Every high risk operation in the community is approved with a key. The key is generated through a higher security module (HSM) that has reached a certain level, and stored in an offline storage system. Such HSM is referred to as a signer. At least two signers are needed for the approval of any high risk operation. The execution of the approved high risk operation is delayed for some stated time to allow for detection of any harmful risk. If there is any risk detected, the operation is cancelled.

EDGECOIN PLATFORM SUPERVISION

The entire Edgecoin community will be monitored by a third-party agency that will be engaged by the company to ensure that its transactions comply with the financial laws of the United Kingdom.

A top accounting firm in Korea will be engaged to conduct a routine audit on the platform to guarantee the EDGT : USD ratio.

The KYC and AML process is required from participating individuals and partner institutions respectively.
These measures will guarantee the safety of all transactions and protect and maintain the values of the platform.

DISCLAIMER

The white paper and website contents of this project is not advice for investment, rather it is for information purposes. It has information that was gathered from reliable sources about the project that will assist users to make gainful decisions about the project. The management does not guarantee the complete execution of programs listed on the community.

Participants in the Edgecoin community are advised to make proper consultations before dealing on the platform, because there are some inherent risks associated with crypto currencies. The management will not be held liable for any loss or damages incurred by clients transactions in the platform

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