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      "parent_permlink": "edenchain",
      "author": "acwtkae",
      "permlink": "edenchain-a-practical-next-generation-blockchain-embracing-the-deep-blue-ocean",
      "title": "EdenChain — A Practical Next-Generation Blockchain Embracing the Deep Blue Ocean",
      "body": "@@ -65,33 +65,33 @@\n st in Blockchain\n-%0A\n+ \n technology and b\n@@ -139,33 +139,33 @@\n ace. Bitcoin and\n-%0A\n+ \n Ethereum, which \n@@ -219,17 +219,17 @@\n projects\n-%0A\n+ \n respecti\n@@ -293,17 +293,17 @@\n ading to\n-%0A\n+ \n delayed \n@@ -370,17 +370,17 @@\n em, many\n-%0A\n+ \n infrastr\n@@ -446,17 +446,17 @@\n tions to\n-%0A\n+ \n improve \n@@ -523,17 +523,17 @@\n EO, EOS,\n-%0A\n+ \n ICON, AI\n@@ -604,17 +604,17 @@\n  Pchain,\n-%0A\n+ \n EdenChai\n@@ -682,17 +682,17 @@\n ich is a\n-%0A\n+ \n classic \n@@ -757,17 +757,17 @@\n ects and\n-%0A\n+ \n business\n@@ -833,17 +833,17 @@\n ading to\n-%0A\n+ \n overcrow\n@@ -952,17 +952,17 @@\n  US$24M,\n-%0A\n+ \n features\n@@ -1027,17 +1027,17 @@\n rm which\n-%0A\n+ \n enables \n@@ -1099,17 +1099,17 @@\n ible and\n-%0A\n+ \n intangib\n@@ -1180,17 +1180,17 @@\n ress the\n-%0A\n+ \n issues r\n@@ -1253,17 +1253,17 @@\n  adopt a\n-%0A\n+ \n business\n@@ -1331,17 +1331,17 @@\n ience to\n-%0A\n+ \n business\n@@ -1492,17 +1492,17 @@\n fferings\n-%0A\n+ \n can help\n@@ -1573,17 +1573,17 @@\n ially in\n-%0A\n+ \n Asia and\n@@ -1863,17 +1863,17 @@\n s, it is\n-%0A\n+ \n essentia\n@@ -1941,17 +1941,17 @@\n Learning\n-%0A\n+ \n what the\n@@ -2016,17 +2016,17 @@\n ects are\n-%0A\n+ \n designed\n@@ -2089,17 +2089,17 @@\n e market\n-%0A\n+ \n potentia\n@@ -2165,17 +2165,17 @@\n otential\n-%0A\n+ \n demand p\n@@ -2449,17 +2449,17 @@\n g retail\n-%0A\n+ \n investor\n@@ -2530,17 +2530,17 @@\n They are\n-%0A\n+ \n very pas\n@@ -2609,17 +2609,17 @@\n ogy that\n-%0A\n+ \n leads th\n@@ -2680,17 +2680,17 @@\n ation of\n-%0A\n+ \n cryptocu\n@@ -2757,17 +2757,17 @@\n (reached\n-%0A\n+ \n ~US$800B\n@@ -2838,17 +2838,17 @@\n llion in\n-%0A\n+ \n the next\n@@ -2916,17 +2916,17 @@\n e 3 main\n-%0A\n+ \n categori\n@@ -2988,17 +2988,17 @@\n tc); (2)\n-%0A\n+ \n Infrastr\n@@ -3065,17 +3065,17 @@\n thereum,\n-%0A\n+ \n EOS, NEO\n@@ -3114,17 +3114,17 @@\n Apps and\n-%0A\n+ \n soon-to-\n@@ -3182,17 +3182,17 @@\n  another\n-%0A\n+ \n cryptocu\n@@ -3262,17 +3262,17 @@\n he first\n-%0A\n+ \n two cate\n@@ -3337,17 +3337,17 @@\n pecially\n-%0A\n+ \n Bitcoin \n@@ -3401,25 +3401,25 @@\n total market\n-%0A\n+ \n capitalizati\n@@ -3495,33 +3495,33 @@\n e.g. Bitcoin and\n-%0A\n+ \n Ethereum). This \n@@ -3579,17 +3579,17 @@\n cost and\n-%0A\n+ \n security\n@@ -3652,17 +3652,17 @@\n er their\n-%0A\n+ \n requirem\n@@ -3729,17 +3729,17 @@\n rrencies\n-%0A\n+ \n will be \n@@ -3808,17 +3808,17 @@\n s or new\n-%0A\n+ \n investme\n@@ -3889,17 +3889,17 @@\n rencies;\n-%0A\n+ \n also whe\n@@ -3965,17 +3965,17 @@\n le (e.g.\n-%0A\n+ \n improvem\n@@ -4046,17 +4046,17 @@\n ch-savvy\n-%0A\n+ \n users wh\n@@ -4179,17 +4179,17 @@\n coin and\n-%0A\n+ \n Ethereum\n@@ -4258,17 +4258,17 @@\n arket as\n-%0A\n+ \n they are\n@@ -4338,17 +4338,17 @@\n cts such\n-%0A\n+ \n as light\n@@ -4419,17 +4419,17 @@\n nsaction\n-%0A\n+ \n performa\n@@ -4500,17 +4500,17 @@\n tle room\n-%0A\n+ \n for new \n@@ -4579,17 +4579,17 @@\n r market\n-%0A\n+ \n given Bi\n@@ -4783,17 +4783,17 @@\n ten have\n-%0A\n+ \n the visi\n@@ -4861,17 +4861,17 @@\n o users,\n-%0A\n+ \n improve \n@@ -4939,17 +4939,17 @@\n in their\n-%0A\n+ \n data own\n@@ -5017,17 +5017,17 @@\n ds, etc.\n-%0A\n+ \n They are\n@@ -5087,25 +5087,25 @@\n h public and\n-%0A\n+ \n private user\n@@ -5247,17 +5247,17 @@\n nd issue\n-%0A\n+ \n tokens. \n@@ -5367,17 +5367,17 @@\n  cost of\n-%0A\n+ \n infrastr\n@@ -5444,17 +5444,17 @@\n umber of\n-%0A\n+ \n customer\n@@ -5592,17 +5592,17 @@\n orm also\n-%0A\n+ \n concern \n@@ -5673,17 +5673,17 @@\n neers in\n-%0A\n+ \n the mark\n@@ -5752,17 +5752,17 @@\n  to hire\n-%0A\n+ \n existing\n@@ -5829,17 +5829,17 @@\n . If the\n-%0A\n+ \n language\n@@ -5906,17 +5906,17 @@\n hon, the\n-%0A\n+ \n learning\n@@ -6019,17 +6019,17 @@\n  listing\n-%0A\n+ \n experien\n@@ -6096,17 +6096,17 @@\n isted on\n-%0A\n+ \n stock ex\n@@ -6176,17 +6176,17 @@\n o comply\n-%0A\n+ \n with reg\n@@ -6256,17 +6256,17 @@\n company,\n-%0A\n+ \n auditors\n@@ -6330,17 +6330,17 @@\n inancial\n-%0A\n+ \n statemen\n@@ -6410,17 +6410,17 @@\n adshows,\n-%0A\n+ \n not to m\n@@ -6490,17 +6490,17 @@\n exities.\n-%0A\n+ \n Without \n@@ -6568,17 +6568,17 @@\n  painful\n-%0A\n+ \n process \n@@ -6698,17 +6698,17 @@\n ns) only\n-%0A\n+ \n account \n@@ -6768,17 +6768,17 @@\n o market\n-%0A\n+ \n capitali\n@@ -6849,17 +6849,17 @@\n s to the\n-%0A\n+ \n time whe\n@@ -6929,17 +6929,17 @@\n  00s, it\n-%0A\n+ \n will tak\n@@ -7010,17 +7010,17 @@\n ications\n-%0A\n+ \n %E2%80%94 DApp d\n@@ -7091,17 +7091,17 @@\n n in the\n-%0A\n+ \n number o\n@@ -7171,17 +7171,17 @@\n e number\n-%0A\n+ \n of DApps\n@@ -7251,17 +7251,17 @@\n ctrum of\n-%0A\n+ \n use case\n@@ -7330,17 +7330,17 @@\n  and IOS\n-%0A\n+ \n App Stor\n@@ -7409,17 +7409,17 @@\n latform.\n-%0A\n+ \n Currentl\n@@ -7489,17 +7489,17 @@\n of DApps\n-%0A\n+ \n built on\n@@ -7802,17 +7802,17 @@\n o gain a\n-%0A\n+ \n signific\n@@ -7883,17 +7883,17 @@\n he DApps\n-%0A\n+ \n market a\n@@ -7964,17 +7964,17 @@\n that can\n-%0A\n+ \n address \n@@ -8129,17 +8129,17 @@\n ide, but\n-%0A\n+ \n Blockcha\n@@ -8206,17 +8206,17 @@\n  such as\n-%0A\n+ \n enterpri\n@@ -8287,17 +8287,17 @@\n ocesses,\n-%0A\n+ \n enterpri\n@@ -8366,17 +8366,17 @@\n security\n-%0A\n+ \n and effi\n@@ -8485,17 +8485,17 @@\n economic\n-%0A\n+ \n values (\n@@ -8564,17 +8564,17 @@\n annot be\n-%0A\n+ \n modified\n@@ -8644,17 +8644,17 @@\n pecially\n-%0A\n+ \n for immo\n@@ -8715,17 +8715,17 @@\n ssets is\n-%0A\n+ \n achievab\n@@ -8848,17 +8848,17 @@\n  payment\n-%0A\n+ \n can invo\n@@ -8927,17 +8927,17 @@\n etc that\n-%0A\n+ \n requires\n@@ -9004,25 +9004,25 @@\n loying smart\n-%0A\n+ \n contracts pr\n@@ -9082,17 +9082,17 @@\n l can be\n-%0A\n+ \n automate\n@@ -9239,17 +9239,17 @@\n with the\n-%0A\n+ \n procurem\n@@ -9317,17 +9317,17 @@\n  and the\n-%0A\n+ \n source o\n@@ -9392,17 +9392,17 @@\n le since\n-%0A\n+ \n informat\n@@ -9471,17 +9471,17 @@\n st which\n-%0A\n+ \n can resu\n@@ -9592,17 +9592,17 @@\n rrencies\n-%0A\n+ \n intermed\n@@ -9671,17 +9671,17 @@\n equired;\n-%0A\n+ \n leading \n@@ -9789,17 +9789,17 @@\n and tech\n-%0A\n+ \n talents \n@@ -9861,33 +9861,33 @@\n eploy Blockchain\n-%0A\n+ \n technology. Tech\n@@ -9950,17 +9950,17 @@\n heir own\n-%0A\n+ \n blockcha\n@@ -10026,17 +10026,17 @@\n acturing\n-%0A\n+ \n process \n@@ -10600,17 +10600,17 @@\n  not yet\n-%0A\n+ \n adopted \n@@ -10675,17 +10675,17 @@\n a survey\n-%0A\n+ \n conducte\n@@ -11184,33 +11184,33 @@\n pting blockchain\n-%0A\n+ \n technology impli\n@@ -11267,17 +11267,17 @@\n ls which\n-%0A\n+ \n presents\n@@ -11342,17 +11342,17 @@\n is still\n-%0A\n+ \n uncertai\n@@ -11416,17 +11416,17 @@\n , system\n-%0A\n+ \n architec\n@@ -11496,17 +11496,17 @@\n before a\n-%0A\n+ \n complete\n@@ -11602,17 +11602,17 @@\n re is an\n-%0A\n+ \n ICO to r\n@@ -11677,17 +11677,17 @@\n nvest in\n-%0A\n+ \n blockcha\n@@ -11757,17 +11757,17 @@\n  may not\n-%0A\n+ \n be econo\n@@ -11836,17 +11836,17 @@\n oo high.\n-%0A\n+ \n Also as \n@@ -11916,17 +11916,17 @@\n nd other\n-%0A\n+ \n blockcha\n@@ -11996,17 +11996,17 @@\n  is also\n-%0A\n+ \n a huge b\n@@ -12106,17 +12106,17 @@\n ckchains\n-%0A\n+ \n currentl\n@@ -12185,17 +12185,17 @@\n rises as\n-%0A\n+ \n informat\n@@ -12262,17 +12262,17 @@\n d ledger\n-%0A\n+ \n technolo\n@@ -12338,17 +12338,17 @@\n  like to\n-%0A\n+ \n reveal c\n@@ -12414,17 +12414,17 @@\n ven to a\n-%0A\n+ \n group of\n@@ -12495,17 +12495,17 @@\n nable to\n-%0A\n+ \n offer si\n@@ -12575,17 +12575,17 @@\n e can be\n-%0A\n+ \n hundreds\n@@ -12656,17 +12656,17 @@\n ses, POS\n-%0A\n+ \n systems,\n@@ -12732,17 +12732,17 @@\n t create\n-%0A\n+ \n complexi\n@@ -12885,17 +12885,17 @@\n existing\n-%0A\n+ \n systems \n@@ -12991,17 +12991,17 @@\n ockchain\n-%0A\n+ \n market t\n@@ -13067,17 +13067,17 @@\n okens or\n-%0A\n+ \n tokens m\n@@ -13148,17 +13148,17 @@\n  size is\n-%0A\n+ \n by reven\n@@ -13228,17 +13228,17 @@\n hain can\n-%0A\n+ \n bring in\n@@ -13307,17 +13307,17 @@\n mes more\n-%0A\n+ \n than tod\n@@ -14086,17 +14086,17 @@\n adequate\n-%0A\n+ \n enterpri\n@@ -14166,17 +14166,17 @@\n p tackle\n-%0A\n+ \n the key \n@@ -14245,17 +14245,17 @@\n e Ocean%E2%80%99\n-%0A\n+ \n without \n@@ -14378,25 +14378,25 @@\n , validation\n-%0A\n+ \n layer and th\n@@ -14488,17 +14488,17 @@\n based on\n-%0A\n+ \n Hyperled\n@@ -14568,17 +14568,17 @@\n to store\n-%0A\n+ \n data on \n@@ -14645,25 +14645,25 @@\n e validation\n-%0A\n+ \n layer are pr\n@@ -14770,17 +14770,17 @@\n lidation\n-%0A\n+ \n layer. F\n@@ -14848,17 +14848,17 @@\n layer to\n-%0A\n+ \n run the \n@@ -15042,17 +15042,17 @@\n rability\n-%0A\n+ \n and conn\n@@ -15123,17 +15123,17 @@\n ain data\n-%0A\n+ \n requeste\n@@ -15197,17 +15197,17 @@\n securely\n-%0A\n+ \n through \n@@ -15266,33 +15266,33 @@\n raphy %E2%80%93Threshold\n-%0A\n+ \n Cryptography (EC\n@@ -15355,17 +15355,17 @@\n  between\n-%0A\n+ \n the node\n@@ -15650,17 +15650,17 @@\n s speed,\n-%0A\n+ \n transact\n@@ -15726,17 +15726,17 @@\n mproving\n-%0A\n+ \n security\n@@ -15803,17 +15803,17 @@\n iendly &\n-%0A\n+ \n accessib\n@@ -15882,17 +15882,17 @@\n ses. All\n-%0A\n+ \n of the t\n@@ -15962,17 +15962,17 @@\n ity. The\n-%0A\n+ \n chart be\n@@ -16035,17 +16035,17 @@\n private)\n-%0A\n+ \n permissi\n@@ -16114,17 +16114,17 @@\n terprise\n-%0A\n+ \n users%E2%80%99**\n@@ -16348,17 +16348,17 @@\n reum can\n-%0A\n+ \n only pro\n@@ -16420,17 +16420,17 @@\n ely. The\n-%0A\n+ \n challeng\n@@ -16493,17 +16493,17 @@\n  must be\n-%0A\n+ \n processe\n@@ -16569,17 +16569,17 @@\n e has to\n-%0A\n+ \n maintain\n@@ -16642,17 +16642,17 @@\n rease in\n-%0A\n+ \n bandwidt\n@@ -16713,33 +16713,33 @@\n ly for Bitcoin%E2%80%99s\n-%0A\n+ \n Proof-of-Work al\n@@ -16798,17 +16798,17 @@\n  satisfy\n-%0A\n+ \n growing \n@@ -16875,17 +16875,17 @@\n ckchains\n-%0A\n+ \n propose \n@@ -16949,17 +16949,17 @@\n fficient\n-%0A\n+ \n consensu\n@@ -17030,17 +17030,17 @@\n ne Fault\n-%0A\n+ \n Toleranc\n@@ -17107,17 +17107,17 @@\n rding to\n-%0A\n+ \n achieve \n@@ -17209,17 +17209,17 @@\n s as the\n-%0A\n+ \n validato\n@@ -17289,17 +17289,17 @@\n sactions\n-%0A\n+ \n can be v\n@@ -17369,17 +17369,17 @@\n thm with\n-%0A\n+ \n much sho\n@@ -17490,17 +17490,17 @@\n utilizes\n-%0A\n+ \n **Merkle\n@@ -17568,17 +17568,17 @@\n sactions\n-%0A\n+ \n and sepa\n@@ -17647,17 +17647,17 @@\n cessing.\n-%0A\n+ \n Each nam\n@@ -17727,17 +17727,17 @@\n e scaled\n-%0A\n+ \n linearly\n@@ -17807,17 +17807,17 @@\n re is no\n-%0A\n+ \n limit in\n@@ -17883,17 +17883,17 @@\n  no data\n-%0A\n+ \n consiste\n@@ -17980,17 +17980,17 @@\n sed-Time\n-%0A\n+ \n (PoET)**\n@@ -18060,17 +18060,17 @@\n itcoin%E2%80%99s\n-%0A\n+ \n Proof-of\n@@ -18133,17 +18133,17 @@\n  puzzle,\n-%0A\n+ \n authenti\n@@ -18212,17 +18212,17 @@\n  lottery\n-%0A\n+ \n process,\n@@ -18291,17 +18291,17 @@\n ctricity\n-%0A\n+ \n than PoW\n@@ -18369,17 +18369,17 @@\n at every\n-%0A\n+ \n particip\n@@ -18445,17 +18445,17 @@\n e leader\n-%0A\n+ \n selectio\n@@ -18523,17 +18523,17 @@\n s as the\n-%0A\n+ \n leader. \n@@ -18604,17 +18604,17 @@\n r switch\n-%0A\n+ \n to other\n@@ -18752,17 +18752,17 @@\n  it with\n-%0A\n+ \n superior\n@@ -18828,25 +18828,25 @@\n eal life use\n-%0A\n+ \n cases.%0A%0A**2.\n@@ -18957,17 +18957,17 @@\n ome very\n-%0A\n+ \n high dur\n@@ -19035,17 +19035,17 @@\n ude only\n-%0A\n+ \n the tran\n@@ -19104,17 +19104,17 @@\n lt, some\n-%0A\n+ \n transact\n@@ -19182,17 +19182,17 @@\n t, which\n-%0A\n+ \n makes pu\n@@ -19256,17 +19256,17 @@\n nsaction\n-%0A\n+ \n certaint\n@@ -19400,17 +19400,17 @@\n y can be\n-%0A\n+ \n validate\n@@ -19476,17 +19476,17 @@\n ch works\n-%0A\n+ \n better f\n@@ -19552,17 +19552,17 @@\n o reduce\n-%0A\n+ \n transact\n@@ -19704,25 +19704,25 @@\n *100%25 of the\n-%0A\n+ \n transactions\n@@ -19781,17 +19781,17 @@\n ence. No\n-%0A\n+ \n transact\n@@ -19962,17 +19962,17 @@\n ate with\n-%0A\n+ \n other bl\n@@ -20040,17 +20040,17 @@\n Wanchain\n-%0A\n+ \n begin to\n@@ -20121,17 +20121,17 @@\n for data\n-%0A\n+ \n transfer\n@@ -20194,33 +20194,33 @@\n rability between\n-%0A\n+ \n blockchains is c\n@@ -20278,17 +20278,17 @@\n es to be\n-%0A\n+ \n swapped \n@@ -20351,17 +20351,17 @@\n currency\n-%0A\n+ \n (ETH/BTC\n@@ -20432,17 +20432,17 @@\n ge (DEX)\n-%0A\n+ \n use case\n@@ -20516,17 +20516,17 @@\n  between\n-%0A\n+ \n blockcha\n@@ -20594,17 +20594,17 @@\n existing\n-%0A\n+ \n enterpri\n@@ -20668,17 +20668,17 @@\n tems) so\n-%0A\n+ \n off-chai\n@@ -20747,17 +20747,17 @@\n kchains.\n-%0A\n+ \n Eden inc\n@@ -20825,17 +20825,17 @@\n ff-chain\n-%0A\n+ \n systems.\n@@ -20897,17 +20897,17 @@\n  selects\n-%0A\n+ \n requeste\n@@ -20978,17 +20978,17 @@\n dules to\n-%0A\n+ \n execute \n@@ -21057,17 +21057,17 @@\n and SDKs\n-%0A\n+ \n for deve\n@@ -21232,17 +21232,17 @@\n ed to be\n-%0A\n+ \n permissi\n@@ -21313,17 +21313,17 @@\n odes for\n-%0A\n+ \n every pe\n@@ -21391,17 +21391,17 @@\n e of the\n-%0A\n+ \n advantag\n@@ -21471,17 +21471,17 @@\n rent and\n-%0A\n+ \n trackabl\n@@ -21551,17 +21551,17 @@\n  frauds.\n-%0A\n+ \n Public b\n@@ -21629,17 +21629,17 @@\n ttackers\n-%0A\n+ \n need to \n@@ -21709,17 +21709,17 @@\n ockchain\n-%0A\n+ \n and mani\n@@ -21790,17 +21790,17 @@\n  to meet\n-%0A\n+ \n the esca\n@@ -21869,17 +21869,17 @@\n  rise to\n-%0A\n+ \n rapid de\n@@ -22003,17 +22003,17 @@\n requires\n-%0A\n+ \n permissi\n@@ -22084,17 +22084,17 @@\n  This is\n-%0A\n+ \n importan\n@@ -22163,17 +22163,17 @@\n n cannot\n-%0A\n+ \n be revea\n@@ -22241,17 +22241,17 @@\n the same\n-%0A\n+ \n enterpri\n@@ -22318,17 +22318,17 @@\n selected\n-%0A\n+ \n individu\n@@ -22391,17 +22391,17 @@\n issioned\n-%0A\n+ \n blockcha\n@@ -22546,17 +22546,17 @@\n rity and\n-%0A\n+ \n privacy \n@@ -22681,17 +22681,17 @@\n ss major\n-%0A\n+ \n continen\n@@ -22755,17 +22755,17 @@\n a secure\n-%0A\n+ \n ecosyste\n@@ -22961,17 +22961,17 @@\n yer into\n-%0A\n+ \n differen\n@@ -23033,17 +23033,17 @@\n PS** and\n-%0A\n+ \n protecte\n@@ -23102,17 +23102,17 @@\n hreshold\n-%0A\n+ \n Cryptogr\n@@ -23178,17 +23178,17 @@\n external\n-%0A\n+ \n system a\n@@ -23328,17 +23328,17 @@\n lidating\n-%0A\n+ \n continuo\n@@ -23479,17 +23479,17 @@\n tensions\n-%0A\n+ \n (SGX)** \n@@ -23683,17 +23683,17 @@\n ng a new\n-%0A\n+ \n programm\n@@ -23757,17 +23757,17 @@\n learning\n-%0A\n+ \n barrier,\n@@ -23910,17 +23910,17 @@\n ontracts\n-%0A\n+ \n written \n@@ -23989,17 +23989,17 @@\n te smart\n-%0A\n+ \n contract\n@@ -24082,17 +24082,17 @@\n l called\n-%0A\n+ \n **E-Edge\n@@ -24161,17 +24161,17 @@\n required\n-%0A\n+ \n to devel\n@@ -24241,17 +24241,17 @@\n velopers\n-%0A\n+ \n can regi\n@@ -24321,17 +24321,17 @@\n ough the\n-%0A\n+ \n portal; \n@@ -24400,17 +24400,17 @@\n he APIs.\n-%0A\n+ \n E-Edge h\n@@ -24480,17 +24480,17 @@\n pers can\n-%0A\n+ \n simply u\n@@ -24558,17 +24558,17 @@\n hire new\n-%0A\n+ \n blockcha\n@@ -24636,17 +24636,17 @@\n for full\n-%0A\n+ \n details \n@@ -24845,17 +24845,17 @@\n tions. A\n-%0A\n+ \n namespac\n@@ -24921,17 +24921,17 @@\n nsaction\n-%0A\n+ \n (e.g. na\n@@ -25002,17 +25002,17 @@\n ation to\n-%0A\n+ \n group tr\n@@ -25081,17 +25081,17 @@\n s can be\n-%0A\n+ \n easily o\n@@ -25158,17 +25158,17 @@\n related,\n-%0A\n+ \n when the\n@@ -25227,17 +25227,17 @@\n l of the\n-%0A\n+ \n transact\n@@ -25299,17 +25299,17 @@\n rtant to\n-%0A\n+ \n enterpri\n@@ -25376,17 +25376,17 @@\n involves\n-%0A\n+ \n multi-pa\n@@ -25450,17 +25450,17 @@\n  trace &\n-%0A\n+ \n organize\n@@ -25524,17 +25524,17 @@\n ntrol by\n-%0A\n+ \n avoiding\n@@ -25666,33 +25666,33 @@\n for startups and\n-%0A\n+ \n enterprises is t\n@@ -25749,17 +25749,17 @@\n adopting\n-%0A\n+ \n blockcha\n@@ -25902,17 +25902,17 @@\n stry use\n-%0A\n+ \n cases. E\n@@ -25982,17 +25982,17 @@\n ce a few\n-%0A\n+ \n services\n@@ -26132,17 +26132,17 @@\n hip with\n-%0A\n+ \n M&K, one\n@@ -26213,17 +26213,17 @@\n ides not\n-%0A\n+ \n only coi\n@@ -26284,17 +26284,17 @@\n ting and\n-%0A\n+ \n investme\n@@ -26364,17 +26364,17 @@\n ssfully.\n-%0A\n+ \n Alpha of\n@@ -26491,17 +26491,17 @@\n zes Eden\n-%0A\n+ \n platform\n@@ -26567,17 +26567,17 @@\n  for B2B\n-%0A\n+ \n transact\n@@ -26714,17 +26714,17 @@\n  the top\n-%0A\n+ \n Fintech \n@@ -26792,17 +26792,17 @@\n ide coin\n-%0A\n+ \n release \n@@ -26944,17 +26944,17 @@\n entiator\n-%0A\n+ \n of EdenC\n@@ -27017,17 +27017,17 @@\n tups and\n-%0A\n+ \n enterpri\n@@ -27192,17 +27192,17 @@\n ccess, a\n-%0A\n+ \n business\n@@ -27272,17 +27272,17 @@\n a strong\n-%0A\n+ \n team and\n@@ -27418,17 +27418,17 @@\n essional\n-%0A\n+ \n with ric\n@@ -27538,17 +27538,17 @@\n ience in\n-%0A\n+ \n the IT i\n@@ -27615,17 +27615,17 @@\n . He was\n-%0A\n+ \n previous\n@@ -27695,17 +27695,17 @@\n erved as\n-%0A\n+ \n the repr\n@@ -27848,17 +27848,17 @@\n years of\n-%0A\n+ \n experien\n@@ -27924,17 +27924,17 @@\n st and a\n-%0A\n+ \n portfoli\n@@ -27996,17 +27996,17 @@\n Franklin\n-%0A\n+ \n Templeto\n@@ -28073,17 +28073,17 @@\n perience\n-%0A\n+ \n when he \n@@ -28152,17 +28152,17 @@\n ockchain\n-%0A\n+ \n technolo\n@@ -28223,17 +28223,17 @@\n ockchain\n-%0A\n+ \n Develope\n@@ -28319,17 +28319,17 @@\n research\n-%0A\n+ \n analyst \n@@ -28399,17 +28399,17 @@\n Capital.\n-%0A\n+ \n HJ is al\n@@ -28478,17 +28478,17 @@\n  network\n-%0A\n+ \n mobile a\n@@ -28580,17 +28580,17 @@\n in** and\n-%0A\n+ \n a big da\n@@ -28657,17 +28657,17 @@\n ce. Eden\n-%0A\n+ \n will als\n@@ -28811,17 +28811,17 @@\n is **Ben\n-%0A\n+ \n Godenzi,\n@@ -28891,17 +28891,17 @@\n elp Eden\n-%0A\n+ \n establis\n@@ -29007,17 +29007,17 @@\n e global\n-%0A\n+ \n partner \n@@ -29086,17 +29086,17 @@\n artners,\n-%0A\n+ \n Eden can\n@@ -29159,17 +29159,17 @@\n ne their\n-%0A\n+ \n products\n@@ -29240,17 +29240,17 @@\n ernet of\n-%0A\n+ \n Things, \n@@ -29317,17 +29317,17 @@\n n of the\n-%0A\n+ \n platform\n@@ -29392,17 +29392,17 @@\n de their\n-%0A\n+ \n portfoli\n@@ -29472,17 +29472,17 @@\n services\n-%0A\n+ \n to build\n@@ -29633,17 +29633,17 @@\n ormed by\n-%0A\n+ \n 21 accel\n@@ -29711,17 +29711,17 @@\n 700m and\n-%0A\n+ \n over 780\n@@ -29821,17 +29821,17 @@\n folio of\n-%0A\n+ \n companie\n@@ -29893,17 +29893,17 @@\n earning,\n-%0A\n+ \n O2O/eCom\n@@ -29970,17 +29970,17 @@\n incubate\n-%0A\n+ \n startups\n@@ -30061,17 +30061,17 @@\n rom over\n-%0A\n+ \n 25 count\n@@ -30207,17 +30207,17 @@\n Spatium,\n-%0A\n+ \n AssureAs\n@@ -30355,17 +30355,17 @@\n e launch\n-%0A\n+ \n of two M\n@@ -30433,17 +30433,17 @@\n  another\n-%0A\n+ \n one is t\n@@ -30509,17 +30509,17 @@\n  to view\n-%0A\n+ \n informat\n@@ -30588,17 +30588,17 @@\n se refer\n-%0A\n+ \n to *%5Bhtt\n@@ -30837,17 +30837,17 @@\n ts/)*)*.\n-%0A\n+ \n The test\n@@ -30917,17 +30917,17 @@\n aunch is\n-%0A\n+ \n targeted\n@@ -31081,17 +31081,17 @@\n Chain is\n-%0A\n+ \n a long t\n@@ -31153,17 +31153,17 @@\n g run is\n-%0A\n+ \n importan\n@@ -31233,17 +31233,17 @@\n  cost of\n-%0A\n+ \n using th\n@@ -31310,17 +31310,17 @@\n n to the\n-%0A\n+ \n tactic t\n@@ -31389,17 +31389,17 @@\n EdenCoin\n-%0A\n+ \n will pro\n@@ -31546,17 +31546,17 @@\n  to host\n-%0A\n+ \n **master\n@@ -31639,17 +31639,17 @@\n ockchain\n-%0A\n+ \n services\n@@ -31807,17 +31807,17 @@\n  secured\n-%0A\n+ \n wallet, \n@@ -31941,17 +31941,17 @@\n decrease\n-%0A\n+ \n graduall\n@@ -32024,17 +32024,17 @@\n d due to\n-%0A\n+ \n regulato\n@@ -32139,17 +32139,17 @@\n ology to\n-%0A\n+ \n strength\n@@ -32219,17 +32219,17 @@\n ins; (2)\n-%0A\n+ \n emphasiz\n@@ -32299,17 +32299,17 @@\n ion with\n-%0A\n+ \n advisory\n@@ -32379,17 +32379,17 @@\n se users\n-%0A\n+ \n to adopt\n@@ -32457,17 +32457,17 @@\n the Blue\n-%0A\n+ \n Ocean an\n@@ -32534,17 +32534,17 @@\n p global\n-%0A\n+ \n blockcha\n@@ -32614,17 +32614,17 @@\n  all the\n-%0A\n+ \n best to \n@@ -32693,17 +32693,17 @@\n ancement\n-%0A\n+ \n of globa\n",
      "json_metadata": "{\"tags\":[\"edenchain\",\"permissioned\",\"blockchain\",\"infrastructure\",\"cryptocurrency\"],\"image\":[\"https://cdn-images-1.medium.com/max/800/1*d2T-tH6O5nMf88DRMSsY2Q.jpeg\",\"https://cdn-images-1.medium.com/max/800/1*ljny_L3oIjMXmLZQsb07dQ.png\",\"https://cdn-images-1.medium.com/max/800/1*sFgWGPDIlBMvgWrHzO4RoA.jpeg\",\"https://cdn-images-1.medium.com/max/800/1*1ziifqO_ECtKAFYVWjX5XA.png\",\"https://cdn-images-1.medium.com/max/800/1*18Qina7D-CqKoPsJkjuO2w.png\"],\"links\":[\"https://imgur.com/YSxuqAI\",\"https://www.bloomberg.com/news/articles/2018-03-21/google-is-said-to-work-on-its-own-blockchain-related-technology\",\"https://www.bloomberg.com/news/articles/2018-04-15/samsung-jumps-on-blockchain-bandwagon-to-manage-its-supply-chain\",\"https://www.gartner.com/newsroom/id/3873790\",\"https://next.autonomous.com/insights/2030-projection-of-blockchain-technology-market\",\"https://www.prnewswire.com/news-releases/global-blockchain-for-enterprise-applications-market-report-2016-2025-analysis-of-the-199-billion-market-with-profiles-of-22-key-industry-players-across-19-industries---research-and-markets-300415819.html\",\"https://edenchain.io\",\"https://edenchain.io/mvp-preview-part-2-e-edge/\",\"https://edenchain.io/preview-of-the-mvp/\",\"https://edenchain.io/demo-of-e-explorer-mvp-the-first-among-many-products/\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
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}

{
  "trx_id": "603a0c453466f39a33f4eb99a3d8e0b2efcd13a4",
  "block": 23660598,
  "trx_in_block": 9,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-06-26T12:56:15",
  "op": [
    "comment",
    {
      "parent_author": "",
      "parent_permlink": "edenchain",
      "author": "acwtkae",
      "permlink": "edenchain-a-practical-next-generation-blockchain-embracing-the-deep-blue-ocean",
      "title": "EdenChain — A Practical Next-Generation Blockchain Embracing the Deep Blue Ocean",
      "body": "The crypto boom in 2017 created an unprecedented level of interest in Blockchain\ntechnology and brought in millions of new users to the space. Bitcoin and\nEthereum, which are known as Blockchain generation 1.0 and 2.0 projects\nrespectively, face a bottleneck with a sudden influx of demand leading to\ndelayed transactions and high transaction costs. To solve this problem, many\ninfrastructure projects were recently developed to propose new solutions to\nimprove scalability, efficiency and security (Key projects include NEO, EOS,\nICON, AION, Kadena and very recently Hyperledger, Oneledger, Quarkchain, Pchain,\nEdenChain, etc). The competition in this space is getting intense, which is a\nclassic example of “red ocean”, which describes the fact that projects and\nbusinesses compete on very similar factors for similar user base leading to\novercrowding and inevitable consolidation.\n\nEdenChain, which conducted a very successful ICO in May and raised US$24M,\nfeatures a programmable economy and permissioned blockchain platform which\nenables projects and businesses to tokenize and capitalize tangible and\nintangible assets freely through smart contracts. Eden does not only address the\nissues related to scalability, efficiency and security, but also adopt a\nbusiness oriented approach that offers practical solutions and convenience to\nbusinesses which have difficulty in the past in accessing Blockchain technology.\n\nIn this article we will study how EdenChain’s unique positioning and offerings\ncan help them capture the uncontested demand (a.k.a. “Blue Ocean”) especially in\nAsia and gain a strong foothold in the global market.\n\n<center>\n![](https://cdn-images-1.medium.com/max/800/1*d2T-tH6O5nMf88DRMSsY2Q.jpeg)\n</center>\n\n### **3 Tiers of Potential Users of Blockchain Technology**\n\nBefore looking into and comparing Eden’s technology with other projects, it is\nessential to understand who the general end users are in the market. Learning\nwhat the users’ pain points are would help us determine which projects are\ndesigned to solve their problems, also by estimating the relative market\npotential and competition of each segment we can project how much potential\ndemand projects can capture.\n\nIn general, there are 3 tiers of potential users:\n\n<center>\n![](https://cdn-images-1.medium.com/max/800/1*ljny_L3oIjMXmLZQsb07dQ.png)\n</center>\n\n**1. General Public Users**\n\nMost of the current general public users are crypto investors, including retail\ninvestors, traders and institutional investors such as venture capital. They are\nvery passionate and positive about the potential of Blockchain technology that\nleads them to invest in cryptocurrencies. The market capitalization of\ncryptocurrencies is ~US$300B as of the date of writing this article (reached\n~US$800B at its previous peak) and has the potential to surpass US$1 Trillion in\nthe next few years based on current trajectory. Crypto assets comprise 3 main\ncategories: (1) Digital Currencies (Bitcoin, Litecoin, Monero etc); (2)\nInfrastructure (platform that allows DApps to be built on it; e.g. Ethereum,\nEOS, NEO, Cardano, etc) and (3) Token (DApps and\nsoon-to-be-infrastructure-projects that currently depend on another\ncryptocurrency as a Infrastructure to operate; e.g. Omisego, Tether). The first\ntwo categories account for 80–90% of the market capitalization (especially\nBitcoin and Ethereum which account for over 50% of the total market\ncapitalization).\n\nGeneral public users generally transact through public chains (e.g. Bitcoin and\nEthereum). This group of users requires reasonable level of speed, cost and\nsecurity, the higher their transaction frequencies are, the higher their\nrequirements are. Growth of this segment depends on whether cryptocurrencies\nwill be widely accepted and become an important medium for transactions or new\ninvestment asset class that will attract more new users to own cryptocurrencies;\nalso whether the technology will be more user-friendly and accessible (e.g.\nimprovement in fiat-to-crypto gateway, wallet functions, etc.) to non-tech-savvy\nusers which is currently an under-penetrated segment.\n\nNo doubt top public digital currencies/infrastructures especially Bitcoin and\nEthereum have high chance to continue to dominate and monopolize the market as\nthey are the most well known and the first movers; and peripheral projects such\nas lightning network and Casper are being developed to improve their transaction\nperformance in order to capture increasing public demand. **There is little room\nfor new projects to gain a significant share of the general public user market\ngiven Bitcoin and Ethereum’s dominance.**\n\n**2. Startups with Decentralized Applications (DApps) as their core products**\n\nStartups that build decentralized applications and issue their tokens often have\nthe vision to eliminate intermediaries to redistribute profits back to users,\nimprove security and transparency of information, allow users to retain their\ndata ownership, incentivize the usage of platform through token rewards, etc.\nThey are service providers & product creators that target both public and\nprivate users, depending on their business models (B2C or B2B) and niche.\n\nDApp projects leverage infrastructure platforms to build their product and issue\ntokens. They have several major requirements:\n\n* They have higher requirements on the scalability, security and cost of\ninfrastructure platforms than general public users. The higher the number of\ncustomers and transactions they have, the higher their requirements are\n* Programming language and the technical documentation of the platform also\nconcern DApp projects, as there is a lack of experienced blockchain engineers in\nthe market for projects to grow their team. An alternative solution is to hire\nexisting software engineers and train them to pick up a new language. If the\nlanguage is similar to existing languages like JavaScript, C and Python, the\nlearning curve will be less steep\n* They require assistance in running their ICOs. Companies with public listing\nexperience would understand the hassle of the IPO process. Getting listed on\nstock exchange requires a time consuming process working with lawyers to comply\nwith regulations, investment bankers to determine the valuation of the company,\nauditors to ensure the fairness and reasonable assurance of the financial\nstatements and marketing firms to showcase their company prospect in roadshows,\nnot to mention ICO is a completely different game with additional complexities.\nWithout experienced deal personnel in the company, it would be a very painful\nprocess for startups to run their ICOs on their own\n\nIt is interesting to note that DApp projects (that issued their tokens) only\naccount for a relatively small portion (~10–20%) of the crypto market\ncapitalization. Recall the start of internet dot com boom during late 90s to the\ntime where popular applications like Facebook were developed during mid 00s, it\nwill take years for a new technology to grow mature and nurture new applications\n— DApp development is the same case and we can expect to see an explosion in the\nnumber of DApps in the next few years. Infrastructures that have a large number\nof DApps built on them will likely to dominate the market given the spectrum of\nuse cases they can cover — like the situation where Android Play Store and IOS\nApp Store occupy the whole market vs Windows Mobile being a minority platform.\nCurrently Ethereum, NEO, ICON and AION lead the market with the amount of DApps\nbuilt on them (see chart below).\n<center>\n![](https://cdn-images-1.medium.com/max/800/1*sFgWGPDIlBMvgWrHzO4RoA.jpeg)\n</center>\n<em>Credits to the infographic creator; Source:\n[https://imgur.com/YSxuqAI](https://imgur.com/YSxuqAI)</em>\n\n**There remains some opportunities for new infrastructure projects to gain a\nsignificant share of the DApps market, given the foreseeable growth of the DApps\nmarket and continuing demand for all-rounded infrastructure platforms** that can\naddress all the issues mentioned above**.**\n\n**3. Enterprises across different industries**\n\nThe first two tiers of potential users are more on the public side, but\nBlockchain technology can also provide benefits for the private side such as\nenterprises. By integrating Blockchain technology into their internal processes,\nenterprises can achieve higher revenue potential, save costs, improve security\nand efficiency through these means:\n\n* Assets tokenization: by tokenizing tangible and intangible assets with economic\nvalues (1) ownership can be clearly defined as records on blockchain cannot be\nmodified (especially patent records); (2) liquidity can be improved (especially\nfor immovable assets like properties); (3) securitization of assets is\nachievable for fractional and shared ownership; etc.\n* Reduction in human effort: A single process within an enterprise like payment\ncan involve multiple departments say marketing, procurement, finance, etc that\nrequires multiple approval from the heads of these divisions. By deploying smart\ncontracts processes and orders that involve multi-parties approval can be\nautomated if the predefined conditions are met, saving human effort and time\n* More transparent supply chain process: when blockchain is integrated with the\nprocurement, manufacturing and logistics systems the shipping process and the\nsource of the raw materials can be tracked much easily and auditable since\ninformation on blockchain is immutable. This helps gain customers’ trust which\ncan result in higher retention rate and revenue\n* Reduction in transaction cost: by transacting through cryptocurrencies\nintermediaries such as payment processors and banks may no longer be required;\nleading to transaction cost savings\n\nTech companies usually have rich resources including higher R&D budgets and tech\ntalents so it is not surprising that they are the pioneers to deploy Blockchain\ntechnology. Tech giants like Google and Samsung are already working on their own\nblockchains to support their cloud business or to monitor the manufacturing\nprocess (*see* *[https://www.bloomberg.com/news/articles/2018-03-21/google-is-said-to-work-on-its-own-blockchain-related-technology](https://www.bloomberg.com/news/articles/2018-03-21/google-is-said-to-work-on-its-own-blockchain-related-technology)* *and* *[https://www.bloomberg.com/news/articles/2018-04-15/samsung-jumps-on-blockchain-bandwagon-to-manage-its-supply-chain](https://www.bloomberg.com/news/articles/2018-04-15/samsung-jumps-on-blockchain-bandwagon-to-manage-its-supply-chain)*)\n\nDespite the enormous potential benefits, most of other industries have not yet\nadopted Blockchain technology in their organization. According to a survey\nconducted by Gartner (*[https://www.gartner.com/newsroom/id/3873790](https://www.gartner.com/newsroom/id/3873790)*), only 9% of CIOs indicated some degree of blockchain adoption currently or in short term; while 34% of CIOs have no interest and 43% of CIOs are aware of Blockchain technology but not taking any actions. The low adoption rate is driven by the following barriers (in addition to the challenges mentioned in the DApp section):\n\n* Lack of full understanding on Blockchain technology: Adopting blockchain\ntechnology implies a change in current business and operating models which\npresents risks and challenges to execution, especially when there is still\nuncertainty involved in terms of security, regulation, governance, system\narchitecture, etc. Management may be hesitant to take immediate action before a\ncomplete understanding\n* Insufficient resources and expertise to adopt the technology: Unless there is an\nICO to raise funds, enterprises need to spare addition budget to invest in\nblockchain adoption. Unless a significant benefit can be quantified, it may not\nbe economically viable for any investment if the cost of adoption is too high.\nAlso as mentioned there are currently not enough blockchain engineers and other\nblockchain related talents (e.g. lawyers) available in the market which is also\na huge barrier for adoption\n* Lack of enterprise-fit solutions in the market: (1) Existing public blockchains\ncurrently do not meet the security and privacy requirements for enterprises as\ninformation is accessible by anyone without restrictions. Distributed ledger\ntechnology brings transparency but it does not mean companies would like to\nreveal confidential business information to their competitors, or even to a\ngroup of employees within the enterprise. (2) Existing blockchains are unable to\noffer simple solutions to integrate with existing company systems. There can be\nhundreds of enterprise systems such as SAP, Business Databases & Warehouses, POS\nsystems, etc with different architectural designs and standards that create\ncomplexity to integration. Without a simple bridging interface and security\nprotocol, enterprises find it difficult to connect blockchains with existing\nsystems easily and securely\n\nIt is hard to measure the potential market size of the enterprise blockchain\nmarket through market capitalization as enterprises may not issue tokens or\ntokens may not be tradeable in the market. Another way to measure market size is\nby revenue. Some studies indicate that enterprise application of blockchain can\nbring in US$20 billions annual revenue by 2025 globally, which is 8 times more\nthan today. (*see* *[https://next.autonomous.com/insights/2030-projection-of-blockchain-technology-market](https://next.autonomous.com/insights/2030-projection-of-blockchain-technology-market)* *and* *[https://www.prnewswire.com/news-releases/global-blockchain-for-enterprise-applications-market-report-2016-2025-analysis-of-the-199-billion-market-with-profiles-of-22-key-industry-players-across-19-industries---research-and-markets-300415819.html](https://www.prnewswire.com/news-releases/global-blockchain-for-enterprise-applications-market-report-2016-2025-analysis-of-the-199-billion-market-with-profiles-of-22-key-industry-players-across-19-industries---research-and-markets-300415819.html)*)\n**As the enterprise segment will continue to grow and there are still inadequate\nenterprise-fit solutions available in the market, projects that can help tackle\nthe key adoption challenges will capture a fruitful share of this ‘Blue Ocean’\nwithout doubt.**\n\n### **EdenChain’s Architectural Design**\n\nEdenChain comprises three distinctive layers: distributed ledger, validation\nlayer and the bridge layer.\n\n**Distributed Ledger Layer (DLL)**: The distributed ledger layer is based on\nHyperledger Sawtooth that provides the decentralized database function to store\ndata on blockchain separately. Only transaction data agreed to in the validation\nlayer are processed and added to the DLL\n\n**Validation layer**: Transactions are executed and verified in the validation\nlayer. Feature wise, Ethereum Virtual Machine (EVM) is built in this layer to\nrun the smart contract; and a transaction scheduling function is included to\noptimize performance and scalability.\n\n**Bridge Layer**: The bridge layer is fundamental to secured interoperability\nand connectivity between on-chain and off-chain systems, in which off-chain data\nrequested by on-chain smart contract is imported and transmitted securely\nthrough an E-Protocol that implements Elliptic Curve Cryptography –Threshold\nCryptography (ECC-TC) encryption method to ensure reliable communication between\nthe nodes.\n\n<center>\n![](https://cdn-images-1.medium.com/max/800/1*1ziifqO_ECtKAFYVWjX5XA.png)\n</center>\n<em>Source: [https://edenchain.io](https://edenchain.io)</em>\n\n### **EdenChain’s Positioning in the Blockchain Space**\n\nInstead of just solving common problems in blockchains such as speed,\ntransaction cost and interoperability; Eden goes an extra mile by improving\nsecurity & privacy of its blockchain further, making it more user-friendly &\naccessible and providing an one-stop solution for projects and businesses. All\nof the technology Eden uses has also been proven to ensure its feasibility. The\nchart below shows that Eden positions itself as a **reinforced (private)\npermissioned blockchain** that enables it to fulfill **DApp** and **enterprise\nusers’** needs and solve their problems better.\n\n<center>\n![](https://cdn-images-1.medium.com/max/800/1*18Qina7D-CqKoPsJkjuO2w.png)\n</center>\n\n**1. Speed**\n\nFirst and second generation public blockchains like Bitcoin and Ethereum can\nonly process ~7 and ~25 transactions per second (TPS) respectively. The\nchallenge that public blockchains face is that every transaction must be\nprocessed by every participating node on the network, and every node has to\nmaintain a entire copy of state — which implies a continuous increase in\nbandwidth, computing power, storage, etc is required (especially for Bitcoin’s\nProof-of-Work algorithm) in order for public blockchains to scale to satisfy\ngrowing public demand. Because of that, latest third+ generation blockchains\npropose to deliver a speed of millions+ TPS by introducing more efficient\nconsensus algorithms such as Delegated Proof of Stake (DPoS) and Byzantine Fault\nTolerance (BFT) or even implementing advanced technology such as sharding to\nachieve scalability.\n\nPrivate blockchains generally enjoy faster speed than public blockchains as the\nvalidators are usually known (i.e. less trust issue) and therefore transactions\ncan be validated by fewer nodes that allows the use of consensus algorithm with\nmuch shorter block time to reach finality.\n\nTo optimize performance for both public and private use cases, Eden utilizes\n**Merkle tree** and **namespace technology** that groups related transactions\nand separates unrelated transactions to allow parallel transaction processing.\nEach namespace can perform ~1,000 TPS and EdenChain can theoretically be scaled\nlinearly to **infinite TPS **with additional computing resources as there is no\nlimit in the number of namespaces & transactions per namespaces and no data\nconsistency issue.\n\nEden adopts an energy-efficient consensus algorithm, **Proof-of-Elapsed-Time\n(PoET)**, which is originally created by Intel. PoET works similar to Bitcoin’s\nProof-of-Work (PoW) that selects a leader (which solves the hash puzzle,\nauthenticates previous block and creates a new block) through a random lottery\nprocess, except the fact that PoET is designed to consume far less electricity\nthan PoW. PoET works in a way that it generates a random wait time that every\nparticipating node has to finish the wait time to be eligible in the leader\nselection, and the participating node with the shortest wait time wins as the\nleader. During the wait time, participating nodes are allowed to sleep or switch\nto other tasks which results in energy saving and efficiency improvement.\n\nEden’s scalable platform allows large scale DApps to be built on it with\nsuperior performance and applied across hundreds and thousands of real life use\ncases.\n\n**2. Transaction fee and reliability**\n\nTransaction fees on public blockchains like Bitcoin and Ethereum become very\nhigh during high traffic situation as miners are incentivized to include only\nthe transactions that pay high fees in the blocks. As a result, some\ntransactions that offer miners low transaction fees may be dropped out, which\nmakes public blockchains not suitable for enterprise users as transaction\ncertainty is one of their key criteria to operate their businesses.\n\nPrivate blockchain transactions are usually less costly, since they can be\nvalidated by fewer nodes trusted to have high processing power, which works\nbetter for enterprises. Third+ generation blockchains also manage to reduce\ntransaction fee by introducing more efficient consensus method as mentioned.\n\nEden charges a **low and fixed transaction fee** and makes sure **100% of the\ntransactions are processed in a First-In-First-Out (FIFO)** sequence. No\ntransactions will be left out ensuring Eden to be reliable for enterprise use.\n\n**3. Interoperability**\n\nThe first and second generation blockchain projects cannot communicate with\nother blockchains. The third generation projects like ICON, AION and Wanchain\nbegin to emphasize interoperability among Blockchains to relay messages for data\ntransfer and carrying out transactions. Another type of interoperability between\nblockchains is cross-chain atomic swap, which allows cryptocurrencies to be\nswapped with one another directly without an intermediate cryptocurrency\n(ETH/BTC/USDT), which is developed specifically for decentralized exchange (DEX)\nuse cases.\n\nInteroperability is not only confined to on-chain communication between\nblockchains, but also off-chain interactions. In reality most of the existing\nenterprise systems are not blockchain systems (i.e. off-chain systems) so\noff-chain interoperability is an essential function of enterprise blockchains.\nEden incorporates **E-Oracle** in its Bridge layer to interact with off-chain\nsystems. The off-chain module accesses, retrieves, verifies and selects\nrequested data from off-chain systems, then passes on to the on-chain modules to\nexecute the smart contracts. On the other hand, by providing **APIs** and SDKs\nfor developers, interoperability is also achievable at application level.\n\n**4. Security and Privacy**\n\nSome public blockchains such as Ethereum are originally designed to be\npermissionless that data and smart contracts are stored and run on all nodes for\nevery person on the network without restricted access. This is the one of the\nadvantages of public blockchain that all transactions are fully transparent and\ntrackable on public ledgers so it increases the difficulty in commiting frauds.\nPublic blockchains are also more secure than centralized servers as attackers\nneed to control majority of the nodes (a.k.a 51% attack) to fork the blockchain\nand manipulate the records. However, public blockchains are not designed to meet\nthe escalated enterprise security and privacy requirements, that gives rise to\nrapid development of private permissioned blockchains.\n\nEdenChain is a **permissioned blockchain**, as the name suggests, it requires\npermission from authorized administrators to participate in the network. This is\nimportant especially to enterprises as sensitivity business information cannot\nbe revealed to the public or even between different divisions within the same\nenterprise as discussed in the first section. By granting access to selected\nindividuals and requiring multi-signature approval, private permissioned\nblockchain can ensure proper internal control and solid corporate governance.\n\nComparing with general private blockchains, EdenChain improves security and\nprivacy further for enterprises by the followings:\n\n* operating the Eden system in **multi data centers** on **clouds** **across major\ncontinents** to ensure high availability, which are connected in a secure\necosystem through **Virtual Private Network (VPN), customizable\nfunction-specific firewall, global DNS and load balancer**\n* **separating on-chain modules from off-chains modules** in the Bridge layer into\ndifferent networks; their communication is routed through **HTTPS** and\nprotected and encrypted by **Elliptic Curve Cryptography — Threshold\nCryptography (ECC-TC)** to shield on-chain modules from attacks in external\nsystem and hence ensure **zero-knowledge** **trusted connectivity**\n* adopting **Median Voter Theorem (MVT)** as a consensus algorithm for validating\ncontinuous data in E-Oracle servers. MVT has low vulnerability to attacks\n* implementing the PoET and MVT algorithms in an **Software Guard Extensions\n(SGX)** **enclave** to protect the leader lottery process against attacks\n\n**5. Usability (Ease of Access, Use, Organization)**\n\nEden is designed to speed up the learning curve. Instead of creating a new\nprogramming language for blockchain operations that may create a learning\nbarrier, Eden’s Transaction Execution Scheduler (TES) in the execution layer\nincludes Ethereum Virtual Machine (EVM) to read and execute smart contracts\nwritten in Solidity, which is already the most popular language to write smart\ncontracts.\n\nFor developers who do not know Solidity, Eden provides a developer portal called\n**E-Edge** that provides **API calls** for various functions that are required\nto develop blockchain services with enterprise blockchain platforms. Developers\ncan register services that use the Eden platform & obtain namespace through the\nportal; and a secret key will then be assigned to them for accessing the APIs.\nE-Edge helps reduce enterprises’ adoption cost as their existing developers can\nsimply use the APIs to build blockchain services without the need to hire new\nblockchain developers. The MVP of E-Edge has already been released (*for full\ndetails please refer to* *[https://EdenChain.io/mvp-preview-part-2-e-edge/](https://edenchain.io/mvp-preview-part-2-e-edge/)*)\n\nEden also improves the traceability, organization and control of transactions. A\nnamespace can be added as a delimiter to indicate the nature of transaction\n(e.g. name ‘Vendor_A’). The validator nodes can use the namespace information to\ngroup transactions in batches so that dependencies between transactions can be\neasily observed. Since transactions within the same batch are inter-related,\nwhen there are errors in a particular transaction, one or all of the\ntransactions in the same batch is/are invalidated. This is important to\nenterprises as transactions are frequent and complicated that often involves\nmulti-parties therefore having such feature allows enterprises to trace &\norganize information quickly to fix problems and ensure proper control by\navoiding potential chain reaction of errors.\n\n**6. All-in-one solution**\n\nAs discussed in the first part, one of the biggest hassles for startups and\nenterprises is the lack of experience, resources and expertise in adopting\nblockchains or running their ICOs. There are also insufficient tailor-made\nsolutions that are readily available in the market for different industry use\ncases. EdenChain understands the pain and this inspires them to introduce a few\nservices and platforms that expand their industry use case coverage:\n\n* HelloEden is the first ICO platform in South Korea. With the partnership with\nM&K, one of the top Tech PR and Marketing firm in South Korea, Eden provides not\nonly coin release but a full range of services including marketing and\ninvestment to aid startups and businesses in launching their ICOs successfully.\nAlpha of HelloEden will be available in Q2 2018\n* CleanDeal is a B2B ecommerce platform operated by YT Corp that utilizes Eden\nplatform to provide coin release and blockchain technology required for B2B\ntransactions. CleanDeal platform is planned to be launched in Q4 2018\n* MyCreditChain is a P2P finance platform operated by Finger, one of the top\nFintech companies in South Korea, that utilizes Eden platform to provide coin\nrelease and blockchain technology required for P2P finance transactions\n\nThe initiative to provide an all-in-one solution is the biggest differentiator\nof EdenChain as it solves one of the biggest pain points of startups and\nenterprises that most blockchain projects do not offer.\n\n### **Strong Execution Leads to Success**\n\nWhile the product-solution fit is one of the key ingredients to success, a\nbusiness has to be executed well to reach its full potential. Eden has a strong\nteam and a robust partnership network to realize its global vision.\n\nEden’s team and advisors consist of experienced business and IT professional\nwith rich entrepreneurial experience:\n\n* **James Ahn, the CEO and founder of EdenChain**, has 20 years of experience in\nthe IT industry knowing what enterprises need in terms of technology. He was\npreviously the CTO in CyberRenassance Inc., Japan. After that he also served as\nthe representative in DeepNumbers and MHR and the consultant to NIA Platform\n* **Kangho Kim, Chief Strategy Officer of EdenChain**, has over 10 years of\nexperience in the financial market as a derivative trader, an analyst and a\nportfolio manager at reputable global investment firms such as Franklin\nTempleton. In addition to his finance background, Kangho gains IT experience\nwhen he founded a social network mobile application with the use of Blockchain\ntechnology and he also serves as a member of the Society of Blockchain\nDevelopers in Korea\n* **HJ Moon, Chief Financial Officer of EdenChain**, was an equity research\nanalyst in top global investment banks like Goldman Sachs and Barclays Capital.\nHJ is also a blockchain enthusiast that he later co-founded the social network\nmobile application\n* Eden’s developer team is also led by **Jenny Ryoo, Co-founder of EdenChain** and\na big data and data science expert with over 10 years of IT experience. Eden\nwill also ramp up its developer team to 30–50 people by the end of 2018\n* Eden shows a list of 13 notable advisors on their website, one of them is **Ben\nGodenzi, the co-founder of Interoperability Alliance (IOA)**, who can help Eden\nestablish a strong relationship with IOA\n\nEden also understands the importance of having a broad and diverse global\npartner network to realize its value. Through the collaboration with partners,\nEden can deepen their understanding on user requirements to refine their\nproducts and build more use cases to cover new sectors (e.g. Gaming, Internet of\nThings, Fintech, Shared Economy) that will encourage further adoption of the\nplatform. Here are some key partners Eden is working with to provide their\nportfolio startups and enterprises with the Eden platform and advisory services\nto build permissioned blockchain services, DApps and conduct (reverse) ICOs:\n\n* **Across Asia Alliances (AAA)** — Across Asia Alliances is an alliance formed by\n21 accelerators/incubators in Asia with Asset Under Management over $700m and\nover 780 startups in the portfolio\n* **ROA Invention Lab** — ROA Invention Lab has an impressive portfolio of\ncompanies with high-tech development in areas such as machine learning,\nO2O/eCommerce, fFntech, etc. It also runs an accelerator program to incubate\nstartups\n* **Hyperledger** — A open source community with over 200 organizations from over\n25 countries focusing on cross-industry blockchain advancement\n* Other partners include **Byzantine Partners, Microsoft Partner Network, Spatium,\nAssureAsia, Merculet, Tomochain, Block Media, BeNative Pro, etc**\n\nEden has managed to prove part of the feasibility of the project with the launch\nof two MVPs, one of which is the E-Edge discussed in earlier section, another\none is the **E-Explorer** which works like the Ethereum’s Etherscan to view\ninformation about EdenChain blocks and transactions *(for details please refer\nto *[https://EdenChain.io/preview-of-the-mvp/](https://edenchain.io/preview-of-the-mvp/)*;\n*[https://edenchain.io/demo-of-e-explorer-mvp-the-first-among-many-products/](https://edenchain.io/demo-of-e-explorer-mvp-the-first-among-many-products/)*)*.\nThe testnet of EdenChain will be available in Q4 2018 and the mainnet launch is\ntargeted in Q1 2019.\n\n### **Implications of EdenCoin to Token Holders and Users**\n\nWhile the cryptocurrency market is highly volatile and speculative, EdenChain is\na long term project and having a more stable token value in long run is\nimportant for real platform users as the token value will represent the cost of\nusing the service which has to be predictable. Therefore, in addition to the\ntactic that the ICO tokens will be distributed equally over 5 months, EdenCoin\nwill provide strong utility to realize and stabilize its value in long run:\n\n* Node participants will be required to hold certain amount of EdenCoin to host\n**masternodes**;\n* Service providers need to pay EdenCoin as a deposit to provide blockchain\nservices;\n* Consumers have to pay EdenCoin to access the services of service providers;\n* Eden will provide a secured wallet with enhanced security. To use the secured\nwallet, a fee/deposit has to be paid using EdenCoin\n* <strike>A hyperdeflation model is introduced that the coin supply will decrease\ngradually at a steady rate by 2020 through coin burn </strike> **(cancelled due to\nregulatory concerns)**\n\n### **Conclusion**\n\nWith EdenChain’s practical approach that (1) uses proven technology to\nstrengthen security, scalability & performance of permissioned blockchains; (2)\nemphasizes usability of the platform and (3) provides an one-stop solution with\nadvisory services that removes a huge barrier for startups and enterprise users\nto adopt blockchain technology, Eden shows they are ready to embrace the Blue\nOcean and they are definitely a strong contender to be one of the top global\nblockchain projects in the foreseeable future. Here we wish Eden’s team all the\nbest to successfully achieve their ‘Garden of Eden’ vision for the advancement\nof global blockchain adoption.\n\n<br>",
      "json_metadata": "{\"tags\":[\"edenchain\",\"permissioned\",\"blockchain\",\"infrastructure\",\"cryptocurrency\"],\"image\":[\"https://cdn-images-1.medium.com/max/800/1*d2T-tH6O5nMf88DRMSsY2Q.jpeg\",\"https://cdn-images-1.medium.com/max/800/1*ljny_L3oIjMXmLZQsb07dQ.png\",\"https://cdn-images-1.medium.com/max/800/1*sFgWGPDIlBMvgWrHzO4RoA.jpeg\",\"https://cdn-images-1.medium.com/max/800/1*1ziifqO_ECtKAFYVWjX5XA.png\",\"https://cdn-images-1.medium.com/max/800/1*18Qina7D-CqKoPsJkjuO2w.png\"],\"links\":[\"https://imgur.com/YSxuqAI\",\"https://www.bloomberg.com/news/articles/2018-03-21/google-is-said-to-work-on-its-own-blockchain-related-technology\",\"https://www.bloomberg.com/news/articles/2018-04-15/samsung-jumps-on-blockchain-bandwagon-to-manage-its-supply-chain\",\"https://www.gartner.com/newsroom/id/3873790\",\"https://next.autonomous.com/insights/2030-projection-of-blockchain-technology-market\",\"https://www.prnewswire.com/news-releases/global-blockchain-for-enterprise-applications-market-report-2016-2025-analysis-of-the-199-billion-market-with-profiles-of-22-key-industry-players-across-19-industries---research-and-markets-300415819.html\",\"https://edenchain.io\",\"https://edenchain.io/mvp-preview-part-2-e-edge/\",\"https://edenchain.io/preview-of-the-mvp/\",\"https://edenchain.io/demo-of-e-explorer-mvp-the-first-among-many-products/\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
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      "author": "acwtkae",
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      "parent_permlink": "edenchain",
      "author": "acwtkae",
      "permlink": "edenchain-a-practical-next-generation-blockchain-embracing-the-deep-blue-ocean",
      "title": "### **EdenChain — A Practical Next-Generation Blockchain Embracing the Deep Blue Ocean**",
      "body": "The crypto boom in 2017 created an unprecedented level of interest in Blockchain\ntechnology and brought in millions of new users to the space. Bitcoin and\nEthereum, which are known as Blockchain generation 1.0 and 2.0 projects\nrespectively, face a bottleneck with a sudden influx of demand leading to\ndelayed transactions and high transaction costs. To solve this problem, many\ninfrastructure projects were recently developed to propose new solutions to\nimprove scalability, efficiency and security (Key projects include NEO, EOS,\nICON, AION, Kadena and very recently Hyperledger, Oneledger, Quarkchain, Pchain,\nEdenChain, etc). The competition in this space is getting intense, which is a\nclassic example of “red ocean”, which describes the fact that projects and\nbusinesses compete on very similar factors for similar user base leading to\novercrowding and inevitable consolidation.\n\nEdenChain, which conducted a very successful ICO in May and raised US$24M,\nfeatures a programmable economy and permissioned blockchain platform which\nenables projects and businesses to tokenize and capitalize tangible and\nintangible assets freely through smart contracts. Eden does not only address the\nissues related to scalability, efficiency and security, but also adopt a\nbusiness oriented approach that offers practical solutions and convenience to\nbusinesses which have difficulty in the past in accessing Blockchain technology.\n\nIn this article we will study how EdenChain’s unique positioning and offerings\ncan help them capture the uncontested demand (a.k.a. “Blue Ocean”) especially in\nAsia and gain a strong foothold in the global market.\n\n<center>\n![](https://cdn-images-1.medium.com/max/800/1*d2T-tH6O5nMf88DRMSsY2Q.jpeg)\n</center>\n\n### **3 Tiers of Potential Users of Blockchain Technology**\n\nBefore looking into and comparing Eden’s technology with other projects, it is\nessential to understand who the general end users are in the market. Learning\nwhat the users’ pain points are would help us determine which projects are\ndesigned to solve their problems, also by estimating the relative market\npotential and competition of each segment we can project how much potential\ndemand projects can capture.\n\nIn general, there are 3 tiers of potential users:\n\n<center>\n![](https://cdn-images-1.medium.com/max/800/1*ljny_L3oIjMXmLZQsb07dQ.png)\n</center>\n\n**1. General Public Users**\n\nMost of the current general public users are crypto investors, including retail\ninvestors, traders and institutional investors such as venture capital. They are\nvery passionate and positive about the potential of Blockchain technology that\nleads them to invest in cryptocurrencies. The market capitalization of\ncryptocurrencies is ~US$300B as of the date of writing this article (reached\n~US$800B at its previous peak) and has the potential to surpass US$1 Trillion in\nthe next few years based on current trajectory. Crypto assets comprise 3 main\ncategories: (1) Digital Currencies (Bitcoin, Litecoin, Monero etc); (2)\nInfrastructure (platform that allows DApps to be built on it; e.g. Ethereum,\nEOS, NEO, Cardano, etc) and (3) Token (DApps and\nsoon-to-be-infrastructure-projects that currently depend on another\ncryptocurrency as a Infrastructure to operate; e.g. Omisego, Tether). The first\ntwo categories account for 80–90% of the market capitalization (especially\nBitcoin and Ethereum which account for over 50% of the total market\ncapitalization).\n\nGeneral public users generally transact through public chains (e.g. Bitcoin and\nEthereum). This group of users requires reasonable level of speed, cost and\nsecurity, the higher their transaction frequencies are, the higher their\nrequirements are. Growth of this segment depends on whether cryptocurrencies\nwill be widely accepted and become an important medium for transactions or new\ninvestment asset class that will attract more new users to own cryptocurrencies;\nalso whether the technology will be more user-friendly and accessible (e.g.\nimprovement in fiat-to-crypto gateway, wallet functions, etc.) to non-tech-savvy\nusers which is currently an under-penetrated segment.\n\nNo doubt top public digital currencies/infrastructures especially Bitcoin and\nEthereum have high chance to continue to dominate and monopolize the market as\nthey are the most well known and the first movers; and peripheral projects such\nas lightning network and Casper are being developed to improve their transaction\nperformance in order to capture increasing public demand. **There is little room\nfor new projects to gain a significant share of the general public user market\ngiven Bitcoin and Ethereum’s dominance.**\n\n**2. Startups with Decentralized Applications (DApps) as their core products**\n\nStartups that build decentralized applications and issue their tokens often have\nthe vision to eliminate intermediaries to redistribute profits back to users,\nimprove security and transparency of information, allow users to retain their\ndata ownership, incentivize the usage of platform through token rewards, etc.\nThey are service providers & product creators that target both public and\nprivate users, depending on their business models (B2C or B2B) and niche.\n\nDApp projects leverage infrastructure platforms to build their product and issue\ntokens. They have several major requirements:\n\n* They have higher requirements on the scalability, security and cost of\ninfrastructure platforms than general public users. The higher the number of\ncustomers and transactions they have, the higher their requirements are\n* Programming language and the technical documentation of the platform also\nconcern DApp projects, as there is a lack of experienced blockchain engineers in\nthe market for projects to grow their team. An alternative solution is to hire\nexisting software engineers and train them to pick up a new language. If the\nlanguage is similar to existing languages like JavaScript, C and Python, the\nlearning curve will be less steep\n* They require assistance in running their ICOs. Companies with public listing\nexperience would understand the hassle of the IPO process. Getting listed on\nstock exchange requires a time consuming process working with lawyers to comply\nwith regulations, investment bankers to determine the valuation of the company,\nauditors to ensure the fairness and reasonable assurance of the financial\nstatements and marketing firms to showcase their company prospect in roadshows,\nnot to mention ICO is a completely different game with additional complexities.\nWithout experienced deal personnel in the company, it would be a very painful\nprocess for startups to run their ICOs on their own\n\nIt is interesting to note that DApp projects (that issued their tokens) only\naccount for a relatively small portion (~10–20%) of the crypto market\ncapitalization. Recall the start of internet dot com boom during late 90s to the\ntime where popular applications like Facebook were developed during mid 00s, it\nwill take years for a new technology to grow mature and nurture new applications\n— DApp development is the same case and we can expect to see an explosion in the\nnumber of DApps in the next few years. Infrastructures that have a large number\nof DApps built on them will likely to dominate the market given the spectrum of\nuse cases they can cover — like the situation where Android Play Store and IOS\nApp Store occupy the whole market vs Windows Mobile being a minority platform.\nCurrently Ethereum, NEO, ICON and AION lead the market with the amount of DApps\nbuilt on them (see chart below).\n<center>\n![](https://cdn-images-1.medium.com/max/800/1*sFgWGPDIlBMvgWrHzO4RoA.jpeg)\n</center>\n<em>Credits to the infographic creator; Source:\n[https://imgur.com/YSxuqAI](https://imgur.com/YSxuqAI)</em>\n\n**There remains some opportunities for new infrastructure projects to gain a\nsignificant share of the DApps market, given the foreseeable growth of the DApps\nmarket and continuing demand for all-rounded infrastructure platforms** that can\naddress all the issues mentioned above**.**\n\n**3. Enterprises across different industries**\n\nThe first two tiers of potential users are more on the public side, but\nBlockchain technology can also provide benefits for the private side such as\nenterprises. By integrating Blockchain technology into their internal processes,\nenterprises can achieve higher revenue potential, save costs, improve security\nand efficiency through these means:\n\n* Assets tokenization: by tokenizing tangible and intangible assets with economic\nvalues (1) ownership can be clearly defined as records on blockchain cannot be\nmodified (especially patent records); (2) liquidity can be improved (especially\nfor immovable assets like properties); (3) securitization of assets is\nachievable for fractional and shared ownership; etc.\n* Reduction in human effort: A single process within an enterprise like payment\ncan involve multiple departments say marketing, procurement, finance, etc that\nrequires multiple approval from the heads of these divisions. By deploying smart\ncontracts processes and orders that involve multi-parties approval can be\nautomated if the predefined conditions are met, saving human effort and time\n* More transparent supply chain process: when blockchain is integrated with the\nprocurement, manufacturing and logistics systems the shipping process and the\nsource of the raw materials can be tracked much easily and auditable since\ninformation on blockchain is immutable. This helps gain customers’ trust which\ncan result in higher retention rate and revenue\n* Reduction in transaction cost: by transacting through cryptocurrencies\nintermediaries such as payment processors and banks may no longer be required;\nleading to transaction cost savings\n\nTech companies usually have rich resources including higher R&D budgets and tech\ntalents so it is not surprising that they are the pioneers to deploy Blockchain\ntechnology. Tech giants like Google and Samsung are already working on their own\nblockchains to support their cloud business or to monitor the manufacturing\nprocess (*see* *[https://www.bloomberg.com/news/articles/2018-03-21/google-is-said-to-work-on-its-own-blockchain-related-technology](https://www.bloomberg.com/news/articles/2018-03-21/google-is-said-to-work-on-its-own-blockchain-related-technology)* *and* *[https://www.bloomberg.com/news/articles/2018-04-15/samsung-jumps-on-blockchain-bandwagon-to-manage-its-supply-chain](https://www.bloomberg.com/news/articles/2018-04-15/samsung-jumps-on-blockchain-bandwagon-to-manage-its-supply-chain)*)\n\nDespite the enormous potential benefits, most of other industries have not yet\nadopted Blockchain technology in their organization. According to a survey\nconducted by Gartner (*[https://www.gartner.com/newsroom/id/3873790](https://www.gartner.com/newsroom/id/3873790)*), only 9% of CIOs indicated some degree of blockchain adoption currently or in short term; while 34% of CIOs have no interest and 43% of CIOs are aware of Blockchain technology but not taking any actions. The low adoption rate is driven by the following barriers (in addition to the challenges mentioned in the DApp section):\n\n* Lack of full understanding on Blockchain technology: Adopting blockchain\ntechnology implies a change in current business and operating models which\npresents risks and challenges to execution, especially when there is still\nuncertainty involved in terms of security, regulation, governance, system\narchitecture, etc. Management may be hesitant to take immediate action before a\ncomplete understanding\n* Insufficient resources and expertise to adopt the technology: Unless there is an\nICO to raise funds, enterprises need to spare addition budget to invest in\nblockchain adoption. Unless a significant benefit can be quantified, it may not\nbe economically viable for any investment if the cost of adoption is too high.\nAlso as mentioned there are currently not enough blockchain engineers and other\nblockchain related talents (e.g. lawyers) available in the market which is also\na huge barrier for adoption\n* Lack of enterprise-fit solutions in the market: (1) Existing public blockchains\ncurrently do not meet the security and privacy requirements for enterprises as\ninformation is accessible by anyone without restrictions. Distributed ledger\ntechnology brings transparency but it does not mean companies would like to\nreveal confidential business information to their competitors, or even to a\ngroup of employees within the enterprise. (2) Existing blockchains are unable to\noffer simple solutions to integrate with existing company systems. There can be\nhundreds of enterprise systems such as SAP, Business Databases & Warehouses, POS\nsystems, etc with different architectural designs and standards that create\ncomplexity to integration. Without a simple bridging interface and security\nprotocol, enterprises find it difficult to connect blockchains with existing\nsystems easily and securely\n\nIt is hard to measure the potential market size of the enterprise blockchain\nmarket through market capitalization as enterprises may not issue tokens or\ntokens may not be tradeable in the market. Another way to measure market size is\nby revenue. Some studies indicate that enterprise application of blockchain can\nbring in US$20 billions annual revenue by 2025 globally, which is 8 times more\nthan today. (*see* *[https://next.autonomous.com/insights/2030-projection-of-blockchain-technology-market](https://next.autonomous.com/insights/2030-projection-of-blockchain-technology-market)* *and* *[https://www.prnewswire.com/news-releases/global-blockchain-for-enterprise-applications-market-report-2016-2025-analysis-of-the-199-billion-market-with-profiles-of-22-key-industry-players-across-19-industries---research-and-markets-300415819.html](https://www.prnewswire.com/news-releases/global-blockchain-for-enterprise-applications-market-report-2016-2025-analysis-of-the-199-billion-market-with-profiles-of-22-key-industry-players-across-19-industries---research-and-markets-300415819.html)*)\n**As the enterprise segment will continue to grow and there are still inadequate\nenterprise-fit solutions available in the market, projects that can help tackle\nthe key adoption challenges will capture a fruitful share of this ‘Blue Ocean’\nwithout doubt.**\n\n### **EdenChain’s Architectural Design**\n\nEdenChain comprises three distinctive layers: distributed ledger, validation\nlayer and the bridge layer.\n\n**Distributed Ledger Layer (DLL)**: The distributed ledger layer is based on\nHyperledger Sawtooth that provides the decentralized database function to store\ndata on blockchain separately. Only transaction data agreed to in the validation\nlayer are processed and added to the DLL\n\n**Validation layer**: Transactions are executed and verified in the validation\nlayer. Feature wise, Ethereum Virtual Machine (EVM) is built in this layer to\nrun the smart contract; and a transaction scheduling function is included to\noptimize performance and scalability.\n\n**Bridge Layer**: The bridge layer is fundamental to secured interoperability\nand connectivity between on-chain and off-chain systems, in which off-chain data\nrequested by on-chain smart contract is imported and transmitted securely\nthrough an E-Protocol that implements Elliptic Curve Cryptography –Threshold\nCryptography (ECC-TC) encryption method to ensure reliable communication between\nthe nodes.\n\n<center>\n![](https://cdn-images-1.medium.com/max/800/1*1ziifqO_ECtKAFYVWjX5XA.png)\n</center>\n<em>Source: [https://edenchain.io](https://edenchain.io)</em>\n\n### **EdenChain’s Positioning in the Blockchain Space**\n\nInstead of just solving common problems in blockchains such as speed,\ntransaction cost and interoperability; Eden goes an extra mile by improving\nsecurity & privacy of its blockchain further, making it more user-friendly &\naccessible and providing an one-stop solution for projects and businesses. All\nof the technology Eden uses has also been proven to ensure its feasibility. The\nchart below shows that Eden positions itself as a **reinforced (private)\npermissioned blockchain** that enables it to fulfill **DApp** and **enterprise\nusers’** needs and solve their problems better.\n\n<center>\n![](https://cdn-images-1.medium.com/max/800/1*18Qina7D-CqKoPsJkjuO2w.png)\n</center>\n\n**1. Speed**\n\nFirst and second generation public blockchains like Bitcoin and Ethereum can\nonly process ~7 and ~25 transactions per second (TPS) respectively. The\nchallenge that public blockchains face is that every transaction must be\nprocessed by every participating node on the network, and every node has to\nmaintain a entire copy of state — which implies a continuous increase in\nbandwidth, computing power, storage, etc is required (especially for Bitcoin’s\nProof-of-Work algorithm) in order for public blockchains to scale to satisfy\ngrowing public demand. Because of that, latest third+ generation blockchains\npropose to deliver a speed of millions+ TPS by introducing more efficient\nconsensus algorithms such as Delegated Proof of Stake (DPoS) and Byzantine Fault\nTolerance (BFT) or even implementing advanced technology such as sharding to\nachieve scalability.\n\nPrivate blockchains generally enjoy faster speed than public blockchains as the\nvalidators are usually known (i.e. less trust issue) and therefore transactions\ncan be validated by fewer nodes that allows the use of consensus algorithm with\nmuch shorter block time to reach finality.\n\nTo optimize performance for both public and private use cases, Eden utilizes\n**Merkle tree** and **namespace technology** that groups related transactions\nand separates unrelated transactions to allow parallel transaction processing.\nEach namespace can perform ~1,000 TPS and EdenChain can theoretically be scaled\nlinearly to **infinite TPS **with additional computing resources as there is no\nlimit in the number of namespaces & transactions per namespaces and no data\nconsistency issue.\n\nEden adopts an energy-efficient consensus algorithm, **Proof-of-Elapsed-Time\n(PoET)**, which is originally created by Intel. PoET works similar to Bitcoin’s\nProof-of-Work (PoW) that selects a leader (which solves the hash puzzle,\nauthenticates previous block and creates a new block) through a random lottery\nprocess, except the fact that PoET is designed to consume far less electricity\nthan PoW. PoET works in a way that it generates a random wait time that every\nparticipating node has to finish the wait time to be eligible in the leader\nselection, and the participating node with the shortest wait time wins as the\nleader. During the wait time, participating nodes are allowed to sleep or switch\nto other tasks which results in energy saving and efficiency improvement.\n\nEden’s scalable platform allows large scale DApps to be built on it with\nsuperior performance and applied across hundreds and thousands of real life use\ncases.\n\n**2. Transaction fee and reliability**\n\nTransaction fees on public blockchains like Bitcoin and Ethereum become very\nhigh during high traffic situation as miners are incentivized to include only\nthe transactions that pay high fees in the blocks. As a result, some\ntransactions that offer miners low transaction fees may be dropped out, which\nmakes public blockchains not suitable for enterprise users as transaction\ncertainty is one of their key criteria to operate their businesses.\n\nPrivate blockchain transactions are usually less costly, since they can be\nvalidated by fewer nodes trusted to have high processing power, which works\nbetter for enterprises. Third+ generation blockchains also manage to reduce\ntransaction fee by introducing more efficient consensus method as mentioned.\n\nEden charges a **low and fixed transaction fee** and makes sure **100% of the\ntransactions are processed in a First-In-First-Out (FIFO)** sequence. No\ntransactions will be left out ensuring Eden to be reliable for enterprise use.\n\n**3. Interoperability**\n\nThe first and second generation blockchain projects cannot communicate with\nother blockchains. The third generation projects like ICON, AION and Wanchain\nbegin to emphasize interoperability among Blockchains to relay messages for data\ntransfer and carrying out transactions. Another type of interoperability between\nblockchains is cross-chain atomic swap, which allows cryptocurrencies to be\nswapped with one another directly without an intermediate cryptocurrency\n(ETH/BTC/USDT), which is developed specifically for decentralized exchange (DEX)\nuse cases.\n\nInteroperability is not only confined to on-chain communication between\nblockchains, but also off-chain interactions. In reality most of the existing\nenterprise systems are not blockchain systems (i.e. off-chain systems) so\noff-chain interoperability is an essential function of enterprise blockchains.\nEden incorporates **E-Oracle** in its Bridge layer to interact with off-chain\nsystems. The off-chain module accesses, retrieves, verifies and selects\nrequested data from off-chain systems, then passes on to the on-chain modules to\nexecute the smart contracts. On the other hand, by providing **APIs** and SDKs\nfor developers, interoperability is also achievable at application level.\n\n**4. Security and Privacy**\n\nSome public blockchains such as Ethereum are originally designed to be\npermissionless that data and smart contracts are stored and run on all nodes for\nevery person on the network without restricted access. This is the one of the\nadvantages of public blockchain that all transactions are fully transparent and\ntrackable on public ledgers so it increases the difficulty in commiting frauds.\nPublic blockchains are also more secure than centralized servers as attackers\nneed to control majority of the nodes (a.k.a 51% attack) to fork the blockchain\nand manipulate the records. However, public blockchains are not designed to meet\nthe escalated enterprise security and privacy requirements, that gives rise to\nrapid development of private permissioned blockchains.\n\nEdenChain is a **permissioned blockchain**, as the name suggests, it requires\npermission from authorized administrators to participate in the network. This is\nimportant especially to enterprises as sensitivity business information cannot\nbe revealed to the public or even between different divisions within the same\nenterprise as discussed in the first section. By granting access to selected\nindividuals and requiring multi-signature approval, private permissioned\nblockchain can ensure proper internal control and solid corporate governance.\n\nComparing with general private blockchains, EdenChain improves security and\nprivacy further for enterprises by the followings:\n\n* operating the Eden system in **multi data centers** on **clouds** **across major\ncontinents** to ensure high availability, which are connected in a secure\necosystem through **Virtual Private Network (VPN), customizable\nfunction-specific firewall, global DNS and load balancer**\n* **separating on-chain modules from off-chains modules** in the Bridge layer into\ndifferent networks; their communication is routed through **HTTPS** and\nprotected and encrypted by **Elliptic Curve Cryptography — Threshold\nCryptography (ECC-TC)** to shield on-chain modules from attacks in external\nsystem and hence ensure **zero-knowledge** **trusted connectivity**\n* adopting **Median Voter Theorem (MVT)** as a consensus algorithm for validating\ncontinuous data in E-Oracle servers. MVT has low vulnerability to attacks\n* implementing the PoET and MVT algorithms in an **Software Guard Extensions\n(SGX)** **enclave** to protect the leader lottery process against attacks\n\n**5. Usability (Ease of Access, Use, Organization)**\n\nEden is designed to speed up the learning curve. Instead of creating a new\nprogramming language for blockchain operations that may create a learning\nbarrier, Eden’s Transaction Execution Scheduler (TES) in the execution layer\nincludes Ethereum Virtual Machine (EVM) to read and execute smart contracts\nwritten in Solidity, which is already the most popular language to write smart\ncontracts.\n\nFor developers who do not know Solidity, Eden provides a developer portal called\n**E-Edge** that provides **API calls** for various functions that are required\nto develop blockchain services with enterprise blockchain platforms. Developers\ncan register services that use the Eden platform & obtain namespace through the\nportal; and a secret key will then be assigned to them for accessing the APIs.\nE-Edge helps reduce enterprises’ adoption cost as their existing developers can\nsimply use the APIs to build blockchain services without the need to hire new\nblockchain developers. The MVP of E-Edge has already been released (*for full\ndetails please refer to* *[https://EdenChain.io/mvp-preview-part-2-e-edge/](https://edenchain.io/mvp-preview-part-2-e-edge/)*)\n\nEden also improves the traceability, organization and control of transactions. A\nnamespace can be added as a delimiter to indicate the nature of transaction\n(e.g. name ‘Vendor_A’). The validator nodes can use the namespace information to\ngroup transactions in batches so that dependencies between transactions can be\neasily observed. Since transactions within the same batch are inter-related,\nwhen there are errors in a particular transaction, one or all of the\ntransactions in the same batch is/are invalidated. This is important to\nenterprises as transactions are frequent and complicated that often involves\nmulti-parties therefore having such feature allows enterprises to trace &\norganize information quickly to fix problems and ensure proper control by\navoiding potential chain reaction of errors.\n\n**6. All-in-one solution**\n\nAs discussed in the first part, one of the biggest hassles for startups and\nenterprises is the lack of experience, resources and expertise in adopting\nblockchains or running their ICOs. There are also insufficient tailor-made\nsolutions that are readily available in the market for different industry use\ncases. EdenChain understands the pain and this inspires them to introduce a few\nservices and platforms that expand their industry use case coverage:\n\n* HelloEden is the first ICO platform in South Korea. With the partnership with\nM&K, one of the top Tech PR and Marketing firm in South Korea, Eden provides not\nonly coin release but a full range of services including marketing and\ninvestment to aid startups and businesses in launching their ICOs successfully.\nAlpha of HelloEden will be available in Q2 2018\n* CleanDeal is a B2B ecommerce platform operated by YT Corp that utilizes Eden\nplatform to provide coin release and blockchain technology required for B2B\ntransactions. CleanDeal platform is planned to be launched in Q4 2018\n* MyCreditChain is a P2P finance platform operated by Finger, one of the top\nFintech companies in South Korea, that utilizes Eden platform to provide coin\nrelease and blockchain technology required for P2P finance transactions\n\nThe initiative to provide an all-in-one solution is the biggest differentiator\nof EdenChain as it solves one of the biggest pain points of startups and\nenterprises that most blockchain projects do not offer.\n\n### **Strong Execution Leads to Success**\n\nWhile the product-solution fit is one of the key ingredients to success, a\nbusiness has to be executed well to reach its full potential. Eden has a strong\nteam and a robust partnership network to realize its global vision.\n\nEden’s team and advisors consist of experienced business and IT professional\nwith rich entrepreneurial experience:\n\n* **James Ahn, the CEO and founder of EdenChain**, has 20 years of experience in\nthe IT industry knowing what enterprises need in terms of technology. He was\npreviously the CTO in CyberRenassance Inc., Japan. After that he also served as\nthe representative in DeepNumbers and MHR and the consultant to NIA Platform\n* **Kangho Kim, Chief Strategy Officer of EdenChain**, has over 10 years of\nexperience in the financial market as a derivative trader, an analyst and a\nportfolio manager at reputable global investment firms such as Franklin\nTempleton. In addition to his finance background, Kangho gains IT experience\nwhen he founded a social network mobile application with the use of Blockchain\ntechnology and he also serves as a member of the Society of Blockchain\nDevelopers in Korea\n* **HJ Moon, Chief Financial Officer of EdenChain**, was an equity research\nanalyst in top global investment banks like Goldman Sachs and Barclays Capital.\nHJ is also a blockchain enthusiast that he later co-founded the social network\nmobile application\n* Eden’s developer team is also led by **Jenny Ryoo, Co-founder of EdenChain** and\na big data and data science expert with over 10 years of IT experience. Eden\nwill also ramp up its developer team to 30–50 people by the end of 2018\n* Eden shows a list of 13 notable advisors on their website, one of them is **Ben\nGodenzi, the co-founder of Interoperability Alliance (IOA)**, who can help Eden\nestablish a strong relationship with IOA\n\nEden also understands the importance of having a broad and diverse global\npartner network to realize its value. Through the collaboration with partners,\nEden can deepen their understanding on user requirements to refine their\nproducts and build more use cases to cover new sectors (e.g. Gaming, Internet of\nThings, Fintech, Shared Economy) that will encourage further adoption of the\nplatform. Here are some key partners Eden is working with to provide their\nportfolio startups and enterprises with the Eden platform and advisory services\nto build permissioned blockchain services, DApps and conduct (reverse) ICOs:\n\n* **Across Asia Alliances (AAA)** — Across Asia Alliances is an alliance formed by\n21 accelerators/incubators in Asia with Asset Under Management over $700m and\nover 780 startups in the portfolio\n* **ROA Invention Lab** — ROA Invention Lab has an impressive portfolio of\ncompanies with high-tech development in areas such as machine learning,\nO2O/eCommerce, fFntech, etc. It also runs an accelerator program to incubate\nstartups\n* **Hyperledger** — A open source community with over 200 organizations from over\n25 countries focusing on cross-industry blockchain advancement\n* Other partners include **Byzantine Partners, Microsoft Partner Network, Spatium,\nAssureAsia, Merculet, Tomochain, Block Media, BeNative Pro, etc**\n\nEden has managed to prove part of the feasibility of the project with the launch\nof two MVPs, one of which is the E-Edge discussed in earlier section, another\none is the **E-Explorer** which works like the Ethereum’s Etherscan to view\ninformation about EdenChain blocks and transactions *(for details please refer\nto *[https://EdenChain.io/preview-of-the-mvp/](https://edenchain.io/preview-of-the-mvp/)*;\n*[https://edenchain.io/demo-of-e-explorer-mvp-the-first-among-many-products/](https://edenchain.io/demo-of-e-explorer-mvp-the-first-among-many-products/)*)*.\nThe testnet of EdenChain will be available in Q4 2018 and the mainnet launch is\ntargeted in Q1 2019.\n\n### **Implications of EdenCoin to Token Holders and Users**\n\nWhile the cryptocurrency market is highly volatile and speculative, EdenChain is\na long term project and having a more stable token value in long run is\nimportant for real platform users as the token value will represent the cost of\nusing the service which has to be predictable. Therefore, in addition to the\ntactic that the ICO tokens will be distributed equally over 5 months, EdenCoin\nwill provide strong utility to realize and stabilize its value in long run:\n\n* Node participants will be required to hold certain amount of EdenCoin to host\n**masternodes**;\n* Service providers need to pay EdenCoin as a deposit to provide blockchain\nservices;\n* Consumers have to pay EdenCoin to access the services of service providers;\n* Eden will provide a secured wallet with enhanced security. To use the secured\nwallet, a fee/deposit has to be paid using EdenCoin\n* <strike>A hyperdeflation model is introduced that the coin supply will decrease\ngradually at a steady rate by 2020 through coin burn </strike> **(cancelled due to\nregulatory concerns)**\n\n### **Conclusion**\n\nWith EdenChain’s practical approach that (1) uses proven technology to\nstrengthen security, scalability & performance of permissioned blockchains; (2)\nemphasizes usability of the platform and (3) provides an one-stop solution with\nadvisory services that removes a huge barrier for startups and enterprise users\nto adopt blockchain technology, Eden shows they are ready to embrace the Blue\nOcean and they are definitely a strong contender to be one of the top global\nblockchain projects in the foreseeable future. Here we wish Eden’s team all the\nbest to successfully achieve their ‘Garden of Eden’ vision for the advancement\nof global blockchain adoption.\n\n<br>",
      "json_metadata": "{\"tags\":[\"edenchain\",\"permissioned\",\"blockchain\",\"infrastructure\",\"cryptocurrency\"],\"image\":[\"https://cdn-images-1.medium.com/max/800/1*d2T-tH6O5nMf88DRMSsY2Q.jpeg\",\"https://cdn-images-1.medium.com/max/800/1*ljny_L3oIjMXmLZQsb07dQ.png\",\"https://cdn-images-1.medium.com/max/800/1*sFgWGPDIlBMvgWrHzO4RoA.jpeg\",\"https://cdn-images-1.medium.com/max/800/1*1ziifqO_ECtKAFYVWjX5XA.png\",\"https://cdn-images-1.medium.com/max/800/1*18Qina7D-CqKoPsJkjuO2w.png\"],\"links\":[\"https://imgur.com/YSxuqAI\",\"https://www.bloomberg.com/news/articles/2018-03-21/google-is-said-to-work-on-its-own-blockchain-related-technology\",\"https://www.bloomberg.com/news/articles/2018-04-15/samsung-jumps-on-blockchain-bandwagon-to-manage-its-supply-chain\",\"https://www.gartner.com/newsroom/id/3873790\",\"https://next.autonomous.com/insights/2030-projection-of-blockchain-technology-market\",\"https://www.prnewswire.com/news-releases/global-blockchain-for-enterprise-applications-market-report-2016-2025-analysis-of-the-199-billion-market-with-profiles-of-22-key-industry-players-across-19-industries---research-and-markets-300415819.html\",\"https://edenchain.io\",\"https://edenchain.io/mvp-preview-part-2-e-edge/\",\"https://edenchain.io/preview-of-the-mvp/\",\"https://edenchain.io/demo-of-e-explorer-mvp-the-first-among-many-products/\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
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