OVERVIEW OF EDGECOIN
The global economic activities are being overwhelmed by the decentralised financial system which has provided solutions to the challenges of the centralized finance system. Many Defi communities are springing up with various features and applications aimed at dealing with challenges in various aspects of life. Thus, despite the emergence of these platforms, none of them has provided a solution to the challenges in the payment of education institutions fees. Students and institutions still pass through a rigorous process in the payment of these fees.
The L.A Asset management Ltd. in conjunction with Girsrah University conducted research on these payment challenges and created a platform that will assist easy, safe and costless educational payments.
Edgecoin is a fully decentralised system that is designed to facilitate easy payment of education and related payment in various education institutions across the world. The community will partner with interested institutions who will register with them and will allow their students to pay their fees using the Edgecoin DApp.
The platform is built on the Stellar network, which is one of the greatest networks in the cryptosystem. It has great features that will ensure safe, cheap and faster transactions.
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 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.
EDGECOIN TOKEN (EDGT)
The Edgecoin platform is controlled by a cryptocurrency referred to as EDGT. It is a custom token with a value of 1 : 1USD. management will institute measures to preserve the value of the token by applying the "Build" custody solution, which requires approval before supplying the tokens. It has a mini token which is used to achieve some goals in the community. It is known as 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. The tokens can be staked to earn more benefits and tokens.
EDGECOIN PLATFORM SUPERVISION
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 Useful Information : 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 Information :
Bitcointalk Username : Chikpe
Bitcointalk Forum Profile : https://bitcointalk.org/index.php?action=profile;u=2850826
Proof of Authentication : https://bitcointalk.org/index.php?topic=5347431.msg57430371#msg57430371
Eth Address : 0x41eC5aA60478D91FcFB2883f80756471575E78AE
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