EdenChain

Programmable economy platform

[Short general description]: EdenChain is a block-chain platform technology that can capitalize and trade all types of assets with the programmable Economy Platform technology. By using the block chain Smart Contract, you can capitalize all tangible and intangible asset-value in to the Token (Tokenization). EdenChain uses smart contracts to integrate real and virtual economies, creating a new and enormous economic system and programmable economy. 

 

[Main problems tackled]: Implementing Programmable Economy Smart contracts, which are core technologies, have a greater technological and economic value than non-deterministic smart contracts that require off-chain integration rather than deterministic smart contracts that operate only on-chain.

Programable Economy: 

1) It can lower transaction costs because there is no middle man. 

2) It can share the profits that the middle man can monopolize. 

3) It can create new market that has never existed through the capitalization of domestic and foreign materials. Which will enrich many people’s lives by returning the financial benefits back to them.

 

[Main contribution proposal]: Permissioned Blockchain - A permissioned blockchain has evolved as an alternative to permission-less blockchain technology, which allows anyone to join a network, such as Bitcoin and Ethereum. Permissioned blockchain technology must be authorized by a network administrator through an authentication process in order to participate in the network. EdenChain is a permissioned blockchain that builds and runs a trusted environment for smart contract execution, secures safety, increases efficiency by using a certain number of nodes based on a namespace, and ensures 100 percent processing of all transactions.

First in, first out - 100% Transaction Guarantee through:

1) Block Withholding - EdenChain operates as a permissioned block chain and operates a system fairly and stably. The purpose of EdenChain is not to secure incentives through mining, but to create a programmable economy and, to do so, public confidence in EdenChain is essential. Thus, the system is transparently operated without any dishonesty.

2) High Availability - EdenChain utilizes cloud services to ensure high availability and operates an EdenChain system with a multi-datacenter pattern using a global DNS and a load balancer.

 

[Innovation]: 

1) PoET(Proof-of-Elapsed-Time) - a "Nakamoto Consensus" method, which uses a CPU command to select a leader randomly without using enormous energy to solve a hash problem like Bitcoin. PoET provides an opportunity to become a leader with block generation authority for all nodes participating in a blockchain network with a probability similar to that used in other leader selection algorithms. (Foundation, 2017)PoET is implemented in an SGX enclave to defend against hacker attacks and allow the leader selection process to proceed safely. At each node, PoET uses a CPU command in the SGX enclave to obtain a wait time that follows an exponential distribution as a random number and select a node having the smallest wait time as the leader.

2) DLL (Distributed Ledger Layer) - provides decentralized database functionality to EdenChain and is based on the Linux Foundation's open source project, Hyperledger. The DLL stores all data generated by the EdenChain in a block. The data cannot be modified and can only be added. The DLL stores the data on a disk device and assumes that all of the stored data originated from a legitimate transaction.

3) Software Connector - proposed a method of using blockchain technology as a kind of software connector. 

4) EVM(Ethereum Virtual Machine) - Edenchain uses the Ethereum's EVM, which is proven, and leverages the EVM in an Edenchain permissioned blockchain to lower accessibility to EdenChain smart contracts and create a variety of smart contracts.

5) BL(Bridge Layer) - zero-knowledge trusted connectivity between on-chain and off-chain.

6) TES(Transaction Execution Scheduling) Transaction - Smart contract execution is also possible through the transactions.

7) Transaction routing - a router receives an execution request for transactions submitted from a validator node, it searches a resource registry for an execution node to execute batches separated by the namespace, and forwards the transactions to be processed by the execution node.

8) E-Bridge - An e-bridge is a core technology of the BL and connects EdenChain with an external system, i.e, an on-chain and off-chain Software Bridge.

9) E-Oracle Consensus - multiple E-Oracle servers to secure trusted connectivity.

10) E-Protocol - a protocol for communication between E-Oracle servers in an E-Oracle pool.

11) Confidentiality on EdenChain - If you allow an encrypted smart contract, you should have full confidence in the person or organization that submitted the smart contract and execute it, believing that the starting contract is safe.

ICO Rating Analysis
Team Evaluation
4.50 / 5.00
Product
4.33 / 5.00
Token Economics
4.50 / 5.00
Business Evaluation
3.80 / 5.00
Hype and media presence
4.00 / 5.00

Analysis

Team - Founders:
Are the founders known? Do they have relevant experience and connections?
4
  • 1. Unknown people. No serious background information available.
  • 2. Partial information available, no relevant experience.
  • 3. Background information available, no relevant experience.
  • 4. Solid, relevant background and connections available.
  • 5. Solid, well known, experienced and well connected founders.
Team - Advisors:
What level of commitment, experience and connections do the advisers bring?
5
  • 1. No reputable advisors with relevant experience.
  • 2. Few advisors with little to no relevant experience.
  • 3. Advisers with relevant experience.
  • 4. Reputable advisors with relevant experience and connections.
  • 5. High profile highly experienced, well connected and committed advisors.
Product - Technology Layer:
Is the product innovative? Does it contribute to the blockchain ecosystem?
5
  • 1. No, the product is just a clone with no contribution.
  • 2. The product is a dapp with minimal interest and little contribution to the ecosystem.
  • 3. The product is a dapp, exchange or protocol addressing a real problem or need.
  • 4. Innovative product offering a solution to a high interest problem.
  • 5. Innovative protocol tackling critical problems of highest interest.
Product - Proof of concept:
Is the proof of concept comprehensive? Does it address a real problem or need?
5
  • 1. No, incoherent concept or no need for it.
  • 2. Difficult concept to understand, hardly any need or problem to solve.
  • 3. Clear concept which addresses a real problem.
  • 4. Clear, well thought concept which addresses a real problem of high interest.
  • 5. Exceptional proof of concept addressing a critical problem.
Product - MVP:
Has the concept been tested? Is there an MVP? How far is the launch?
3
  • 1. Untested concept.
  • 2. Initial tests, no MVP.
  • 3. MVP ready, Alpha launch.
  • 4. MVP ready, Beta launch.
  • 5. Fully working initial product.
Token Economics - Token utility:
Does the token have any utility? Is it a core function to the network?
4
  • 1. No, the token has no utility.
  • 2. Token has a limited, unclear utility.
  • 3. The token has some added, but not inherent value.
  • 4. The token is embedded in the network and has inherent value.
  • 5. The token has both inherent and added value and is embedded at the core of the network.
Token Economics - Network effect:
Are strong network effects built into the system? Are incentives aligned to encourage the growth of the network?
5
  • 1. No network effects built in.
  • 2. Minimal network effects, unclear incentives.
  • 3. Network effects and incentives present.
  • 4. Solid network effects with clear incentives due to inherent utility.
  • 5. Strong network effects, aligned incentives and high utility value.
Business Evaluation - Valuation:
Is the valuation reasonable ? Sufficient but not too high for the scope of the project?
3
  • 1. No, the valuation is ludicrous, the project could do with 1/10 of the sum.
  • 2. Valuation is higher than the project would need. Likely a money grab.
  • 3. Valuation is reasonable for the scope of the project.
  • 4. Valuation is modest for the caliber of the project.
  • 5. Valuation is impressively modest relative to the high caliber of the project.
Business Evaluation - Market potential:
What is the market potential? Does the project look like it could penetrate the market and conquer the world?
5
  • 1. No clear market potential.
  • 2. Limited market potential.
  • 3. Reasonable market and growth potential.
  • 4. Solid market and growth potential.
  • 5. Exceptional market and growth potential.
Business Evaluation - Competition:
Does the project have competition? How strong does it look relative to its competition?
3
  • 1. Awful position competing with many strong players.
  • 2. Weak position facing strong competition.
  • 3. Reasonable position facing strong competition.
  • 4. Solid position facing weak competition.
  • 5. Exceptional position, facing almost no competition.
Business Evaluation - Supply sold:
Does the team distribute a reasonable amount of the tokens so as to encourage create strong incentives and network effects?
4
  • 1. Negligible supply, greedy team.
  • 2. Small supply, poor incentives.
  • 3. Modest supply, weak incentives.
  • 4. Reasonable supply, responsible team.
  • 5. Large supply, solid inventive, committed team.
Business Evaluation - Vesting:
Does the team have a sufficient stake to have aligned incentives? Do they have a vesting schedule implemented?
4
  • 1. Large stake, no vesting.
  • 2. Small stakes, no vesting.
  • 3. Modest stakes, no vesting.
  • 4. Reasonable stakes, modest vesting.
  • 5. Solid stake, healthy vesting.
Hype and media presence:
Is the project present on social media and chats? Is there interest for it?
4
  • 1. No presence, negative image.
  • 2. Modest exposure and no interest.
  • 3. Reasonable exposure and modest interest.
  • 4. Solid exposure and high interest.
  • 5. Exceptional exposure, high interest and considerable hype.
Final Score
4.31

Team

Member
James Ahn
CEO, Founder
Jenny Ryoo
Co-Founder, Blockchain Developer
Hokyun Kim
Blockchain Developer
Brian Park
Blockchain Developer
Kangho Kim
Chief Strategy Officer
HJ Moon
Chief of Business Development, Asia
Richard Jahnke
Business Development, US and Europe
Kathy Roe
Marketing
Jessica Park
Marketing
Aaron Tay
Financial Advisor
Kwangho Lee
Technical Advisor

Advisors

Don Chang, Ph.D.
Advisor
Joongheon Kim, Ph.D.
Advisor
Sungho Kim, Ph.D.
Advisor
Alan Moonsoo Kim
Advisor
James Jahnke
Advisor
Mina Jeong
Advisor
Marat Zhanispayev
Advisor
Mirza Uddin
Advisor
IckChan Joo, Ph.D.
Advisor
Benn Godenzi
Advisor
Hyung Guel Kim
Advisor
Yoonsang Cho
Advisor

Updates

Title
Published at
EdenChain Blog has opened up!!
9 months ago
Edenchain Briefing at the 16th KIFC Meet-up
9 months ago
Disruptive Innovation Blockchain
9 months ago
Edenchain was introduced on tech live broadcasting [Do-Live]
9 months ago
EdenChain and Spatium MOU
9 months ago
EdenChain and aSSIST Blockchain Conference
9 months ago
Blockchain and cryptocurrency’s now and future
9 months ago
EdenChain’s interview is on Korea Times
9 months ago
EdenChain’s First Meet-up
9 months ago
EdenChain live on Asiaetv on March 2nd
9 months ago
Vote for the new logo of Eden
8 months ago
Eden, James Ahn’s Lecture on Blockchain : Daou Technology
8 months ago
Symbolism of Eden’s Logo
8 months ago
The story behind the name of Eden
8 months ago
EdenChain 's Website
8 months ago
Edenchain’s Whitelist Round A Closed!
8 months ago