Eden Chain- A platform for programable economy

As the blockchain is emerging as a revolutionising technology its application and usability are growing in various filed day by day. The blockchain eliminates several risks that come with data being held centrally and has given rise to the distributed ledger technology which is a decentralized and secured system.

The use of blockchain smartcontract has made possible to capitalize the tangible and non-tangible assets into the capital in the form of tokens. Eden Chain proposed a concept of next-generation blockchain providing a programmable economy platform which integrates all real and virtual values and creates a new enormous economic system to capitalize and trading. It’s a concept of decentralization economy where there is no middle man so that the transaction cost is lower as well as fast without compromising the security of each transaction. Eden Chain can be used in a wide range of applications and industries. As it supports Solidity, it can be base for smart contract and ICOs. It can be used in IoT, B2B services, P2P Finance and so on.

Smart contracts are a key element in the programmable economy so it should be secured and transactions should be faster. The major problems the current blockchain facing are the issue of scalability and security. As per the whitepaper Eden chain uses Namespace with Merkle Tree for the high-speed performance. Namespace technology separates unrelated transaction into separate spaces and executes a transaction in parallel that is how it makes possible for high-performance processing. Furthermore, Namespace organises a processing environment to maintain optimal performance at the time of the high volume of transaction. Theoretically, Eden chain can handle an infinite number of TPS (Transaction per second) and can be scaled linearly. As there are serious security vulnerabilities by hackers Eden Chain employs a software as well as hardware which will protect the blockchain against the hackers. A concept of retrieve data from different sources to bridge layer and then encryption of data, use of median voter theorem makes sure there is no compromise in data security. A concept of Proof of Elapsed Time (PoET) consensus is designed to save much energy consumption which undoubtedly decreases the transaction cost fee. It is designed to process all transaction on a first-in, first out (FIFO) basis which is a fair concept.

Eden Chain presents three layers of blockchain: a distributed ledger, a validation layer and a bridge layer. The distributed ledger is a place at which data used in the blockchain are separately stored and only data of transactions agreed to in the validation layer are processed. A transaction is executed and verified in the validation layer. It is responsible for the transaction scheduling which plays a vital role in the performance and scalability of the system. The bridge layer is used to retrieve data needed from off-chain to on-chain. Since the nodes exist on-chain and off-chain an encryption technique (E-protocol using ECC-TC and HTTPS) is applied for security.

Of course, a team of diverse, highly qualified persons from various reputed universities having experienced in reputed companies are working together to form Eden chain. Certainly, this team has a clear vision and roadmap to make this project success since it has been supported by leading brands in the world.