EDGECOIN: A DIGITALIZED PAYMENT SYSTEM BASED ON BLOCKCHAIN
INTRODUCTION
Before the integration of crypto and blockchain technology in the educational system, the traditional system of education has been faced with a lot of problems that have been denting the integrity and the purpose of education throughout the world. These problems include poor educational payment system, certificate tampering and forging, improper management and storage of records, and misappropriation of funds.
The development of modern and advanced technology over the years has resulted in a remarkable revolution in payments technology. This modern and advanced technology has helped to digitalized payment processes thus controlling the risk of money lost, over and underpayment of funds, high charges and taxes, embezzlement, and frauds compared to the traditional payment system which involves manual and paper-based processes for payments where lots of errors are eminent.
The integration of cryptocurrency and blockchain technology into the digitalized educational system tends to solve the problems facing its payment system because it makes use of a decentralized, transparent, trustworthy, and secured computing system. This integration enables effectiveness in the management and storage of records or data, fast transactions, cashless policy, Peer-to-Peer transactions, and also ensuring that there is no involvement of any intermediaries or third parties.
To improve the educational payment system there should be a payment platform that will take full benefit of blockchain technology to control the problems being faced by the traditional payment system. Hence the need for Edgecoin a payment system for educational establishments that makes use of a Decentralized computing system based on blockchain technology where transactions associated with education are made easy and achievable digitally without any issue of distrust and restrictions.
WHAT IS EDGECOIN
Edgecoin is a decentralized computing system that can perform educational related financial transactions such as payment of enrollment fees, certificates, various registrations, books, and accommodation through a Decentralized application (DApp) system a unique feature that makes use of smart contracts on the blockchain thereby making transactions performed to be very transparent, secured, and fast.
Edgecoin has taken great pain to make their payment system to be unique by making use of a Decentralized application (DApp) that performs financial functions on a blockchain using smart contracts thereby improving the education financial function thus enabling swift payment, secured environment for the transaction, and unlimited transactions.
The utmost aim of Edgecoin is to incorporate blockchain technology into the digital payment space of the payment system for educational establishments with the help of Decentralized application (DApp) driven by the network.
EDGECOIN AND BLOCKCHAIN
Blockchain technology is a modern innovation being used in the world of technology today. It makes use of a decentralized ledger system that enables peer-to-peer transactions, effectiveness in the management of data, fast transactions, cashless policy, security, and safety.
EDGECOIN utilizes the decentralized ledger system through the use of Decentralized Application (DApp) which allows all transactions performed on their platform to be secured, reliable and transparent on the network based on the blockchain.
The incorporation of Decentralized Applications (DApp) into digitalized payment system on the blockchain by Edgecoin allows educational institutions to receive payment in real-time. There is no need for a middleman such as a bank or current payment system who charges expensive fees as 2-10% in the form of platform fee and tax.
The network is an open-source supported on the blockchain for creating, storing, exchanging, and trading cryptocurrencies. Edgecoin makes use of Stellar Network because it is much faster, cheaper, and more energy-efficient than typical blockchain-based systems.
The decentralized nature of the EDGECOIN platform enables users or educational institutions to exploit self custody or smart contract which allows them to have total privacy and control over their assets thereby making it difficult for intermediaries or third parties to have access to users’ funds and private storage information.
BENEFITS OF BLOCKCHAIN
The benefits of blockchain include;
Faster Transactions
With the use of blockchain, the Edgecoin payment platform processes faster transactions than other platforms. The average transaction time on stellar is 5 seconds where other platforms have a transaction time of approx. 3.5 minutes.
Cheaper Transaction Fee
Transaction fees on a stellar blockchain network are cheaper than that on the ethereum blockchain. On the blockchain, there is a negligible transaction which is refundable after the transactions.
Secure Transactions
The network is decentralized and it makes available enhanced security due to its simple and declarative operations.
EDGECOIN FEATURE BENEFITS
The Edgecoin payment system has some unique features that make it stands out from all other payment systems which allow users of the Edgecoin platform to benefit from. These benefits include;
· Fast, transparent, and secure educational transactions
· Low transaction fees
· Price stability
· Earning of rewards on the platform through staking of Gradecoin token.
EDGECOIN OPERATIONS
The Edgecoin payment system works mainly by following three crucial steps which its system has been hardwired to perform. These three steps include;
Signing Up
This is the first step taken in which the user sign up or register on the Edgecoin platform and completes the KYC (Know Your Customer). The KYC is done for the users to have full access to the functionality of the platform such as exchange and withdrawing of Edgecoin on the Stellar Network.
Getting your Edgecoin (EDGT) Token
After the implementation of KYC, the Edgecoin token is being allocated to the user to make any educational-related transactions. The Edgecoin Token is a Stable Coin with a value of 1 USD per 1 EDGT thereby making the price of the Egdecoin token not to be volatile.
Paying your Fees
Finally, after the allocation of the Edgecoin token, you can disburse your College/School fees or make any educational associated transaction such as enrolment fees, accommodation, and books through the decentralized app.
EDGECOIN TOKENOMICS
Edgecoin makes use of 2 tokens namely;
- EDGECOIN Token (EDGT) based on Stellar Network
- GRADE COIN (GRTC) a native token of EDGECOIN which is based on Ethereum Network
EDGECOIN TOKEN (EDGT)
EDGT is a stable coin that will grant users or holders to execute educational transactions such as school fees, enrolment fees, and accommodations on the Edgecoin payment platform.
EDGT has a total supply of 10,000,000,000 EDGT in which 40% (4,000,000,000 EDGT) will be allocated for users, 10% (1,000,000,000 EDGT) for developers, 20% (2,000,000,000 EDGT) for team/advisors, and 30% (3,000,000,000 EDGT) for stakeholders.
GRADECOIN (GRTC)
Gradecoin (GRTC) is a native token of Edegcoin which is the fuel token for the accomplishment of Edgecoin network resource control. Gradecoin also enables cross-asset intermediary currency settlement and all network participants making transactions on the Edgecoin will have to use GRTC Token to settle block transaction fees.
GRTC has a total supply of 1,000,000,000 GRTC in which 40% (400,000,000 GRTC) will be allocated for network long-term incentives and capital reserve, 10% (100,000,000 GRTC) for community development, 20% (200,000,000 GRTC) for ecosystem, and 30% (300,000,000 GRTC) for secondary distribution.
GRADECOIN (GRTC) UTILITY
GRTC functions include the following;
· Cross-asset intermediary currency settlement
· Block transaction fees settlement
· Reward or incentive for processing and validating transactions on the network
Benefits of GRADECOIN (GRTC)
The benefits of GRTC include;
GRTC stake-and-earn
This allows Users to stake GRTC for 10 days on the Edgecoin app and earn more interest annually.
Soft-staking for idle balance
Edgecoin Soft Staking devised a new way for users to earn rewards up to 5% in interest annually on cryptocurrencies held in the app.
Currently, Edgecoin Staking is LIVE in which participants holding EDGT tokens can stake and earn 34% GRTC tokens. To participate in Edgecoin staking click on the below;
https://edgecoinpay.com/stake.html
EDGECOIN TEAM
Edgecoin team comprises experienced individuals that are experts in blockchain technology, cryptocurrencies, education, financial management, and much more, who are zealous and willing to improve the educational payment system with blockchain technology and as well as ensuring that this Edgecoin project is successful.
In conclusion, Edgecoin is a decentralized computing system that can perform educational-related financial transactions through a Decentralized application (DApp) system a unique feature that makes use of smart contracts on the blockchain thereby making transactions performed to be very transparent, secured, and swift.
Edgecoin has taken great pain to make educational payment systems to be unique through the use of DApp that performs financial functions on stellar blockchain thereby enabling swift payment, a secured environment for transactions, and unlimited transactions. Also, the Edgecoin platform enables users or holders to earn more rewards through the staking features on the platform thereby giving users the opportunity to incentives as they hold more of either Edgecoin token or Gradecoin.
EDGECOIN COMPREHENSIVE ROADMAP
For more information on this project follow the link below:
Website: https://www.edgecoinpay.com/
Telegram: https://t.me/Edgecoin_chat
Twitter: https://twitter.com/edgecoinpay
Facebook: https://www.facebook.com/edgecoinpay
Instagram: https://www.instagram.com/edgecoinpay/
YouTube: https://www.youtube.com/channel/UC5ekVAo2GXdMPcM03Y6r78g
AUTHOR
Forum Username: zapetto17
Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=2754380
ETH Wallet Address: 0xde60890F50Cc028dAc0CD22f80b73429463c3748