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.
The education sector has been witnessing rigorous processes in the payment and processing of fees in institutions. The students have to pay fee charges at the bank, spend some quality time and pass through some stress to make these payments. Also, the institutions have to use a middleman to process this payment in the institution's bursery. These processes pose a lot of challenges in processing payments in the sector. Although there are many applications springing up daily in the Defi system, none of them has been able to provide solutions to these challenges in the payment of education related fees.
L. A. Asset management Ltd. conducted research on these challenges and created a platform that has a lasting solution to all these challenges. It established the first stable coin that controls a decentralised application that will be used to make free, instant, cheaper and secured payment of education related fees in institutions across the world. All a user needs to do is to sign in into the DApp, complete KYC, deposit EDGT coins which are converted into the USD at the ratio of 1:1. Then proceed to make payments with the dollars.
Edgecoin DAPP
This is the official decentralised application of the community where its members will log in to do their transactions. Users are allowed to do transactions in the app without the interference of the management. It performs transactions very fast, and it is built on smart contracts that ensures its safety and transparency. Users sign in into the application, complete KYC, deposit EDGT tokens which will be converted to the USD to make payments.
Contract Specification
The transactions that are done on the Edgecoin community are based on smart contracts. Each contract requires a custodian approval which can be another contract. The system requires a process. It is upgraded by "Build".The build is introduced into the store through proxy. An offline key is needed for every transaction in the community. This key is referred to as a signer, which is generated through a Hardware Security Module. High risk operations require at least 2 signers for its approval. A time-lock is applied to the transaction execution, which allows for detection of any harmful risk. Thus, the contract can be cancelled within the period if there is any risk detected.
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.
Edgecoin Token
There is a crypto coin that controls the activities and transactions in the community. It is referred to as EDGT. Every transaction in the platform is based on the EDGT coins. 1 billion coins will be supplied to the community for the project. The management will adopt measures to control the availability of the tokens in order to maintain the value of the company. Each EDGT is valued at 1 USD.
There is another junior token used in the community to realise the goals of the community - GRADECOIN (GRTC). The GRTC can be used to reward some members for their contributions in the community and also used to pay some fee charges, and to elevate smart contracts that don't have good quality. The tokens can be staked to earn more benefits and tokens.
Edgecoin Platform Control
A third party will be contacted to supervise the activities on the Edgecoin system to ensure it complies with standard financial laws. The community will be audited by a top accounting firm on regular bases to guarantee its transparency. Users will undergo the KYC and AML verification for individuals and institutions respectively. These measures will protect the community and ensure its stability.
Legal Disclaimer
The white paper and website contents of the community is for information purposes and not advice for investment. Users are advised to do proper consultation with legal and financial experts before dealing on the Edgecoin platform. The contents on the white paper can be amended or updated by the management for the benefit of the entire community. Such action will be relayed to the community through social media channels. The community will not be liable for any loss or damages incurred by clients by transacting in the platform.
Project Links : https://twitter.com/edgecoinpay
https://www.facebook.com/edgecoinpay
https://www.linkedin.com/company/edgecoinpay
https://www.instagram.com/edgecoinpay/
https://www.youtube.com/channel/UC5ekVAo2GXdMPcM03Y6r78g
https://t.me/Edgecoin_chat
https://www.edgecoinpay.com/
Writer Details:
BTT Username : Raynnamdi
BTT Profile URL: https://bitcointalk.org/index.php?action=profile;u=3350563
P. O. A : https://bitcointalk.org/index.php?topic=5347431.msg57571416#msg57571416
Eth Address : 0x191c0625ccA98fAC91e99c5473cF856e482D3447