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TRANSCRIPT
MULTIFUNCTIONAL BLOCKCHAIN PLATFORM
WHITE PAPER
www.blockchain.mn
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
PAGE 2
White paper V1.1
1. Introduction1.1 Foreword
1.2 Brief summary
2. EDC Blockchain Concept2.1 Blockchain technology market overview
2.2 EDC Blockchain positioning
3. Specifications3.1 What is blockchain
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
PAGE 3
3.2 How blockchain works
3.3 EDC blockchain general characteristics
3.4 EDC Blockchain technology core
3.5 Architecture
3.5.1 Transactions
3.5.2 Network
3.5.3 Protocol
3.5.4 Smart contracts
3.5.5 Scalability
3.5.6 Nodes. Decentralization
3.5.7 EDC leasing
4. Value Network: EDC Blockchain Ecosystem4.1 EDC Bonus Coin
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
PAGE 4
4.1.1 Coin features
4.1.2 Burning
4.1.3 Exchanges
4.1.4 Ways to integrate EDC Blockchain
4.2 Coin constructor
4.3 EDC Blockchain Wallet
4.4 Wallet functionality
5. Roadmap
6. Partners
7. Media About EDC Blockchain
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
PAGE 5
8. Security8.1 Disclaimer
8.2 Intellectual property
9. Contacts
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
PAGE 6
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
PAGE 7
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
PAGE 8
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
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at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
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EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
PAGE 11
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
PAGE 12
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
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We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
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EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
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www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
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We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
Hash Digest of Block Transactions
0x5f23827e3...
0x3ecd3521f...
0x6f142f327...
0x3ecd3521f...
0x6f142f327...
0x3ecd3521f...
0x6f142f327...
1 0 1 0 10 1 0 1 000100 1 0 1 0 1
0 1 0 1 000100
1 0 1 0 10 1 0 1 000100
1 0 1 0 10 1 0 1 000100
1 0 1 0 10 1 0 1 000100
1 0 1 0 10 1 0 1 000100
Fill to Line
Tran
sact
ions
Que
nue
Blo
ckch
ain
BLOCK
1 0 1 0 10 1 0 1 000100 1 0 1 0 1
0 1 0 1 000100
1 0 1 0 10 1 0 1 000100
1 0 1 0 10 1 0 1 000100
1 0 1 0 10 1 0 1 000100
1 0 1 0 10 1 0 1 000100
1 0 1 0 10 1 0 1 000100
1 0 1 0 10 1 0 1 000100
1 0 1 0 10 1 0 1 000100
Blockchain ledger
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
PAGE 15
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
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3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
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4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
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3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
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5 Block chaining
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4 Block validation
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
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3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
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3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
1970sMainframe
1990sInternet
2000sSocial-Media
2010sBlockchain
1980sPC
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
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3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
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3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
Mobile
*might be used other API Servers.
3rd Party application
Services Services
Load Web Walllet
Web server
Web Server Light WalletLocal (install)
GitHub
EDC Blockchain GitHub
EDC Blockchain GitHub
ToolsSupport
C++ Library
walletapi
assetapi
databaseapi
cryptoapi
loginapi
historyapi
networkbroadcast
api
Networknodeapi
Blockapi
ordersapi
plug ingraphene::chain
GitHubgraphene:: appgraphene:: wallet
utility
Release (Script to build - witness_node executable and cli_wallet executable)
EDC Blockchain Core Libraries
Nodes
GitHub CLI Wallet Client
EDC Blockchain JS Library
Websocket JS Library
EDC UI Release
wallet.blockchain.mn
wallet.json
wallet.json wallet.json
RPC - API
RPC - API(API-1 : authorized Querying)
Websockets (Real time Noti�cations)
Private Node
API NodeFaucet provider
API NodeClient provider
API NodeClient provider
Block Producer (whitness) Node
Block Producer (whitness) NodeP2P Cloud NetworkThe Cloud could be...
Public TestNetPrivate TestNet
Seed Node
(e.g.) Node DirectoryHome- cli_wallet- genesis.json- witness_node- data/prod- con�g.ini- logs- api-access.json
Browser
PAGE 23
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
PAGE 24
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
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3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
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3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
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3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
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3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
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3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
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3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
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3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
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3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
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3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
P2P network
Delayed Full Node Deposit API
Wallet Withdraw API
Trusted Full Node
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
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3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
PAGE 35
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
Basic Package Plus Package Premium Package
Provides the ability to create a coin, set a symbol and description for it.
Provides the ability to change the maximum number of issued coins, symbol and description.
It provides the opportunity to create a full-fledged cryptocurrency with a PoS mining algorithm and a choice of characteristics e.g. symbol, description, maximum number of coins issued, number of decimal places, daily bonus and its interest, maturation, leasing functions, and the maturation bonus.
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
PAGE 36
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
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It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
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It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
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It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
Step 1Crowdfunding platform using a coin constructor
Platform for providing community members with the opportunity to promote their projects and conduct crowdfunding campaigns, therefore, scaling up their business using their own tokens.
New modernmulti-functional web portalfor access toall EDCBlockchainservices.
ImplementingAI support botto help usersand trackcommunityneeds.
Launch of themarketingplatform that will allow toconduct marketingcampaigns for each business project andattracting the targetaudience to these projects to increase the turnover ofgoods and theconsumptionof services.
Introduction of the discount and loyaltyprogram platform forrepresentatives of business projects withinthe community.The implementation of a bonus unit EDC in the turnover between entrepreneursof the community.
Adding variousfunctions of the AI bot on the loyaltyplatform.
Built-inplatform for theexchange ofgoods andservices usingEDC coinswithin thecommunity.More than 1millionrepresentativesof small andmedium-sizedbusinesses areplaced in oneecosystem.
Launching a p2plending platform ingoods and servicesusing the smartcontract builder.
Launching a p2p lending platform in goods and services using the smart contract builder.
Launch of the EDC blockchain Charity Program - automatic deduction through smart contracts.
Step 2New EDCBlockchainwebsite
Step 3AI bot tosupport users
Step 4Platform formarketingcampaigns
Step 5Discountplatform forthe EDCcommunity
Step 6Expanding thefunctionality ofan AI assistant
Step 8Onlineexchangeplatform
Step 9P2P lendingplatform
Step 10Charityprogram
Step 7Smart contractbuilder
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9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
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It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
PAGE 41
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
PAGE. 42
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain
BLOCKCAST
VR.sina.com.cnVR
4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
新浪
www.blockcast.cc www.today-news.com https://news.163.com
www.vr.sina.com.cn
www.blockchain.mn
www.uzmancoin.com www.koinbulteni.com
网易 新闻
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
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It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
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It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
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7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.
3.3 EDC blockchain general characteristics
Technology: Modified "Graphene";
Number of types of operations: 80+ (44 of them were in the original "Graphene" composition)
Number of data types by 'implementation' and 'protocol' levels: 45 (32 of them - in the original composition of 'graphene')
Consensus Algorithm: LPoS (Leased Proof-of-Stake)
Privacy key generation algorithm: sha256 (sha512(key))
Algorithm for generating public keys: secp256k1 (i.e. elliptic curve)
Block-interval time: up to 5 seconds, average time 2.5 seconds;
Maximum transaction size: 2048 bytes.
Maximum block size: 2048000000 bytes (~2GB)
Duration of 'maintenance time': up to 15 seconds (for 2019)
Number of nodes: 37 (12 physical servers)
Of them, the number of delayed nodes (with full transaction history saved): 5
The number of 'cli_wallet' launched for 'receive-service' and data synchronization from 'back-end': 11
4. Block Validation
Special network test nodes (validators) receive blocks for validation. Validation is a repetitive request that requires consensus from a certain number of network members. There are several different consensus mechanisms. The EDC Blockchain uses an LPoS mechanism (see "Consensus"). The meaning of any consensus mechanism is to confirm the validity of a transaction and exclude any fraudulent activity.
5. Chain of Blocks
All confirmed transactions are placed in a chain of blocks, forming a new current log state, which is transmitted to the network. All this process can be completed in 3-5 seconds.
3.2 How the Blockchain works
1. Transaction
The sender creates the transaction and transmits it to the network. The transaction message contains the information below:
The recipient's public address,
transaction value,
a cryptographic digital signature that verifies the authenticity of the transaction.
2. Transaction Confirmation
Network nodes (computers/users) receive a transaction message and verify the authenticity of the message by decrypting the digital signature. A validated transaction is placed in a "pool" of incomplete transactions.
3. Block creation
All incomplete transactions through any of the network nodes are added to the updated ledger, which is called the "new block". After a certain period of time the node transmits the block to the network for validation.
The emergence of distributed blockchain registries has solved this problem: the responsibility for confirmation shifts to the entire network. A centralized database is no longer needed to exchange ownership of the digital coin. Instead, a global log of all transactions ever made is maintained, and each new change of ownership requires confirmation from other users.
www.weibo.com/7086042952
bitcointalk.org/index.php?topic=5135187
3. Specifications
3.1 What is blockchain
The blockchain serves as a ledger with instructions signed by the user, which becomes a binding agreement as soon as they are included in the block. After the instructions are included in the block, the agreements are stored indefinitely using a linked-list. From this ordered transactions sequence, the current state (user balances) can, if necessary, be reproduced by processing all transactions sequentially, starting from the very first block.
As will be seen later, the software will ensure that the instructions stored on the blockchain are successfully authenticated and validated. To verify and process operations, a common set of rules determines the consequences of specific actions that are part of the blockchain protocol.
The use of digital transactions was considered impossible because of the relative ease of copying digital information: each transaction potentially entailed a risk of "double spending" - for example, if the owner sends a copy of a digital coin to the seller while retaining the original.
We constantly support informing project ambassadors and our community about all the processes on the platform, as well as conduct regular training webinars and conferences. You can quickly get information about the latest and current news of the EDC Blockchain platform on social networks and on the project’s official website.
Official website: blockchain.mn
Social Media:
t.me/EDCBlockchain
https://t.me/edcaccept
twitter.com/EDCBlockchain
www.instagram.com/EDC.Blockchain
www.facebook.com/EDCBlockchain
www.youtube.com/channel/UCdkt4HSObcdnSU4CrqZqgig
www.linkedin.com/company/edcblockchain
EDC Blockchain is a universal blockchain platform with a large international community. The EDC-community is one of the main promoting drivers for the project. It includes representatives of small and medium-sized businesses, crypto-enthusiasts, experienced marketers, coin holders, investors who clearly see the difference between motivation and the logic of blockchain projects. That is why all startups joining the EDC platform pass multi-level scoring and verification, creating additional protection and guarantees for potential investors.
In the next few years, we are going to grow in the technologies of our platform and develop the existing community. The basis of our unique selling proposition is that we add value by providing new opportunities on the EDC Blockchain platform itself.
One of the main EDC Blockchain missions is tokenization of small and medium-sized businesses, as well as building a global community as the main way of popularizing the platform. The EDC Blockchain project target audience is noticeably different from other blockchain aggregators - it is a progressive community that is well versed in the crypto industry and has experience in the classic business.
The main advantage for the EDC Blockchain target audience is that, due to the coin constructor, you can create a coin with the prospect of listing on our own crypto-exchange platform (this release is at the development stage), and new and little-known promising startups will immediately receive active support from the world EDC-community. In addition, own project tokens can be used in the global ECRO marketplace and in our joint partnership projects. With these opportunities, we cure one of the main “pains” for new crypto-world projects - we give additional protection against changes in the cryptocurrency market as a whole and its instability at present.
The EDC Blockchain platform has its own deep modification of the well-known Graphene protocol, which allows you to make ultra-fast transfers. This is important when tokenizing existing businesses joining EDC Blockchain.
The main features of the platform are similar to some large aggregators and coin constructors, but at the same time, the main difference between the EDC Blockchain capabilities is an innovative blockchain constructor and advanced features that increase liquidity and demand, following the strategy “the more coin use cases, the higher demand”. This solution covers many problems from real business sectors around the world. EDC Blockchain gives small and medium-sized business not only the opportunity to create their own token, but also helps to reach a new level of scaling, regardless of the niche:
Using your own knowledge base and attracting site partners to assist in the development of any project
Helping to enter the existing large EDC Blockchain platform community
Providing advertising and marketing support at any level around the world
Providing the ability to quickly list on partner exchanges
Establishing contacts with advisers and ambassadors for new startups, regardless of the project’s geolocation
Allowing you to take full advantage of your own products in the EDC Blockchain ecosystem to expand your real business, regardless of geolocation
EDC Blockchain solves this problem: by launching a startup on the platform, you receive support from the community of EDC coin holders in 57 countries of the world. There are also venture investors in the community who are interested in projects at the very early development stage.
The EDC Blockchain platform was created according to an ecological model with the goal of expanding small and medium-sized businesses to a larger scale. This problem is solved using the coin constructor and access to other numerous solutions provided by EDC Blockchain. EDC was formed as a platform of the future, where any operations – from buying a cup of coffee to starting an entire enterprise – can be performed anywhere in the world without additional costs.
2.2 EDC Blockchain Positioning and Benefits
EDC Blockchain is an advanced solution among present blockchain platforms. This is an innovative aggregator with its blockchain, coin, wallet, exchange, marketing opportunities for any type of business and startups. The platform has an active community formed over the previous years, which is also a potential point of development and scaling for projects joined the EDC Blockchain.
One of the most popular company products is a coin constructor and the ability to lease own coins to a large node (masternode), which brings daily bonus accruals. The first direction is mainly used by legal entities as the second is of interest to individuals. The main advantage of leasing is the passive growth of users capital.
*data by Startup Genome https://s3.amazonaws.com/startupcompass-public/StartupGenomeReport2_Why_Startups_Fail_v2.pdf
at the state level as well. Economic studies* suggest that in 2023 the blockchain market volume will reach $ 15.9 billion. In 2019, the volume of costs for blockchain technologies will reach approximately $ 2.7 billion, an 80% increase compared to 2018. Between 2019 and 2022 the compound annual growth rate (CAGR) in cloud infrastructure spending will reach 73.2%.
Such figures indicate a high demand for blockchain solutions. Today, many entrepreneurs around the world are thinking about introducing digital assets into their business, as this opens up many advantages for them. The most basic are complete reliability and transparency of transactions, speed without respect to the transaction size, and anonymity.
But due to the abundance of crypto platforms, difficulties arise. A person asks the following question: to whom they can entrust their funds? Will he benefit from cooperation with the selected company, applying its solutions for introducing blockchain technologies into his business? Will he find support for his nascent business in the chosen blockchain solution?
Unfortunately, finding a reliable foundation is extremely difficult. Most crypto platforms work for short-term profits. Only few of them advocate, first of all, for the introduction of new solutions into the global system and really allow the users benefiting from the utilising of blockchain technologies.
According to various researches, for 2018-2019 about 70% of startups at crowdfunding sites remained unrealized, and projects were closed in 92% of cases. * There can be many reasons for this problem. One of them is the lack of a working model for entering the blockchain technology market.
*data by IDC https://www.idc.com/getdoc.jsp?containerId=prUS45429719
The EDC Blockchain system consists of the following components: blockchain, front-end, back-end, databases. The blockchain platform is based on high-speed Graphene technology and runs on high-performance embedded financial smart contracts. It is a decentralized autonomous network that allows the owners to manage coin’s functionality within the framework of the privacy and consensus algorithm LPoS (Leased Proof of Stake) – literally – rented proof of ownership). In the relevant section you will find a detailed description of the EDC Blockchain platform technical characteristics.
The main platform tool is the EDC coin (Every Day Coin). Our EDC coin is unique in that it was originally created to tokenize it into a real business. For some competitors, this functionality was built in later, and user was in the “choice without choice” position: expensive and fast, or slow and cheap. EDC is the most innovative and at once fast and convenient solution for absolutely every user.
In this document, the relevant chapters contain all the technical information regarding the EDC Blockchain platform, a roadmap and information about the project team.
2. EDC Blockchain concept
2.1 Blockchain technology market overview
The idea of using blockchain technology in business has recently been mass adopted and has been applied
EDC Blockchain is an innovative aggregator with own blockchain, coin constructor, exchange, marketing opportunities for any business, and with the active community that has grown over the previous years of platform’s work.
The company's mission is tokenization of small and medium-sized businesses, the introduction of blockchain technologies in the real economy, the creation of package solutions based on blockchain technologies for a more comfortable everyday life and the popularization of blockchain ideas around the world.
EDC Blockchain regularly participates in global summits and conferences aimed at the blockchain technologies development. Project management is regularly invited to panel discussions and speaker sessions as competent crypto experts and successful practitioners.
The technological effectiveness and innovativeness of the products developed by the company's IT engineers have gained popularity in 57 countries around the world, where more than 1 million EDC wallets are registered.
The tasks of the platform’s mass popularization were undertaken not only by the company's managers, but also by dozens of independent ambassadors, which led to the active growth and success of EDC Blockchain.
By attracting promising startups, as well as projects created on our own blockchain that are directly tied to existing assets and solutions used on the platform, EDC Blockchain independently creates liquidity, thereby covering the fear of the EDC coins depreciation.
1. Introduction
1.1 Foreword
This document contains the result of a research conducted by the EDC Blockchain specialists. The content of this document is the result of a comprehensive study of the EDC Blockchain blockchain platform using online information sources, analytical publications and materials.
We strive to provide the most comprehensive report with a detailed description of the opportunities, prospects and key factors for the project development using blockchain technology.
We hope that the study will be useful and help you better understand all the possibilities that opens up the use of blockchain technology and EDC Blockchain products.
1.2 Company Brief
Today, many promising projects go unnoticed and unrealized eventually. The EDC Blockchain partially disqualifies this problem, offering any business attention from a large loyal community, openness, security, as well as several blockchain solutions for the rapid development of a business or a project.
The EDC Blockchain is a decentralized platform built on embedded high-performance financial smart contracts. It is a decentralized autonomous network that allows the owner to manage the functionality of their tokens within LPoS privacy and consensus algorithms. LPoS (Leased Proof-of-Stake, "leased" literally - leased proof of ownership) is an improved version of Proof-of-Stake, which allows saving energy consumption.
Consensus is the process through which the community comes to a universally recognized explicit agreement on information. In the context of blockchain, consensus means agreement on rules for the validity of transactions, and the order in which they follow is also determined by the blockchain. This ultimately leads to agreement on the current state, which is built on these rules and the sequence of transactions.
3.4 EDC Blockchain technology core
The EDC Blockchain system consists of the following components:
blockchain;
front-end (react.js);
back-end (node.js);
databases (mongo.db, redis);
EDC Blockchain is using graphene technology, but includes multiple modifications and improvements, making it unique in its kind. The EDC Blockchain is a decentralized autonomous community that allows EDC major native coin holders to decide on the future direction and aspects of community management.
3.5 Architecture
The EDC blockchain consists of the next components, each of which is described individually below:
3.5.1 Transactions
When users want to interact with any blockchain, they create so-called transactions and transmit them to the network. These transactions are messages that contain instructions on what specific transactions the user wants to use. For example, the most common of these is a simple transfer operation that comes with its own specific instructions that provide the necessary information for that action. For example: sender, recipient, transfer amount, as well as an optional encrypted memo entry (payment comment). In order to be able to perform several transactions later, they are merged into one transaction.
For identification in the blockchain system, the transactions are cryptographically signed by users. This signature authenticates the user and provides data for transactions in the transaction. In other words, the incorrectly signed transaction will not be accepted by the blockchain.
3.5.2 Network
A blockchain defines storage facilities and can be used both for a single participant and in a distributed Internet network often referred to as a Peer-2-Peer (P2P) network. In the latter case, several participants are connected to each other in such a way that incoming transactions are forwarded to another connected participant. The transaction eventually reaches what is known as the "block-producer". It checks the incoming transactions via the internal protocol (hardcode-protocol) and binds them to one block, which is added to the existing blockchain. Only after that the transaction is considered confirmed and executed. The influence of the executed operation on the current state of the internal database is also determined in the blockchain protocol.
3.5.3 Protocol
The most significant part of the blockchain technology is the blockchain protocol. It defines the behavior of the whole system, including the results of transaction processing. Users use certain functions to create a transaction that contains claim points (also referred to as operations). Since a blockchain, as a repository, stores only changes (e.g. transfers), the final balance of each account along with other information must be monitored separately and treated as the current state of the blockchain.
It is important to understand that the protocol is determined and changes the blockchain state only after new signed (validated) transactions are accepted.
This makes the blockchain technology tamper-proof and verifiable.There are no less than 80 transactions available in the EDC. Each of them uses the protocol at least three times:
validation: during the validation, raw instructions (also referred to as "payload") are checked for consistency. For example, in case of a transfer, we guarantee that the transfer amount is positive.
evaluation: at the evaluation stage for a specific operation, the instruction is checked according to the current blockchain state. For example, in the case of a transfer, we guarantee that the amount to be transferred is available in the sender's account.
application: this step takes action in the sense that it changes the current state. In case of a transfer, here we observe a decrease in the sender's account balance and an increase in the recipient's account balance depending on the amount of tokens transferred.
3.5.4 Smart contracts
The EDC Blockchain platform supports turing-complete, embedded C++ smart contracts that are almost unlimited to developers. Among other things, they include support for working with the file system and web requests.
To write internal logic, developers can use database platforms, the actual data structures described, as well as user operations included in transactions.
3.5.5 Scalability
The technology used has publicly demonstrated throughput of 20,000 transactions per second in a distributed test network. The technology can easily scale to 100,000 per second with relatively simple improvements in server bandwidth and communication protocols.
3.5.6 Nodes. Decentralization
The platform uses the Delegated Proof-of-stake mechanism (with partial use of LPoS as a replacement for coin mining), which mitigates the potential negative effects of centralization through the use of node-witnesses. Nodes and witnesses sign blocks and vote (accepting consensus on who will sign the next block), checking the network with each executed transaction. Using a decentralized voting process, DPOS is more democratic in design than comparable systems.
Unlike other methods of protecting cryptographic networks, every client in the DPOS system has the ability to decide who to trust by concentrating in the hands of those who have the most resources. DPOS allows networks to receive some of the main benefits of centralization, while maintaining some of the calculated measure of decentralization. DPOS eliminates the need to wait for a certain number of untrusted hosts to verify a transaction before it can be validated. This system is provided by a fair electoral process where anyone can potentially become a delegated representative of the majority of users.
3.5.7 EDC leasing
EDC Blockchain uses LPoS (Leased proof of Stake) leasing technology - an improved version of Proof-of-Stake. With EDC Blockchain's LPoS system, users can lease their balances to masternodes while receiving additional bonus accruals.
Through holding and leasing, a new emission of coins takes place. The entire emission of new coins, embedded in the code "total supply", appears by means of bonus accruals to the users for the coins holding in the masternodes.
The leasing function allows users to send a deposit to the masternode for a certain period of time for any amount (starting from the minimum deposit amount set by the system), at a corresponding percentage, while receiving daily bonuses set by the system. At the end of the deposit term, the amount deposited by the user is returned to his balance. The user can set the possibility of auto-renewal, at that at the end of the deposit period it will be extended for the corresponding period with the corresponding interest rates.
4. EDC Blockchain Ecosystem
4.1 EDC (Every Day Coin) bonus utility coin
The EDC (Every Day Coin) is a bonus utility coin of the EDC Blockchain platform. It does not provide any additional income and is not an investment instrument.
The coin was created for use in small and medium-sized business projects: in loyalty programs, promotions, bonus accruals to customers of the company, as well as a bonus for employees. The EDC bonus coin can be exchanged for various goods or services provided by entrepreneurs as special promotions to expand the market for their products or services and attract new target audiences. The EDC bonus utility coin can be exchanged for services provided by EDC Blockchain.
The main function of the EDC coin is an intra-coin coin for the EDC Blockchain project. The coin provides access to the main functions of the EDC Blockchain platform and products of the ECRO System partner platform.
An EDC coin is not an electronic (digital) currency, commodity, security or any other financial instrument. It may not be used for investment purposes or for speculative or other financial purposes.
The coin is not covered by the 1934 Security Exchange Act because it is not a Security token, as required by the SEC (The United States Securities and Exchange Commission), and is not registered under the US Securities Act of 1933. In addition, an EDC coin is not subject to any applicable U.S. or securities law of any
other country or any jurisdiction in which the potential holder of an EDC coin may be resident.
The EDC coin does not grant distribution, liquidation, repurchase or other legal or financial rights to the holder other than those set forth in the White Paper EDC Blockchain.
4.1.1 Coin features
The EDC bonus coin is a coin for every day, which gives users access to the company's products and all its additional features.
Advantages:
Ability to use in loyalty programs and bonuses in promotions, which allows to attract the target audience and develop business.
Receiving daily bonus accruals from leasing coins,
Ability to exchange coins for goods and services and get a cacheback on the progressive marketplace ECRO,
Free coin exchange on partner exchanges with high liquidity.
Ticker: EDC
Max Supply: 100,000,000,000
EDC Blockchain is available on coinmarketcap.com/currencies/edc-blockchain
4.1.2 Burning
In order to maintain a stable exchange rate value and a natural shortage of EDC coins on the market, a burning mechanism has been implemented on the platform. The burning process reduces the number of EDC coins by removing a certain amount of coins from circulation. This creates conditions for the growth in coin value and reduces inflation.
The burning process is carried out using a special Burner account created by the administration of the platform. Coins sent to this account are instantly burned and withdrawn from circulation, which increases the deficit of EDC coins on the open market.
The system automatically burns transfer fees, commissions for creating own digital assets with the help of the constructor and part of the profit for the difference in value and sale of goods on the partner marketplace ECRO.
4.1.3 Exchanges
The EDC coin is present at the next international exchange platforms:
Exchanges
www.zg.com Exrates.me
Bit-z.com Yobit.net
Digifinex.com P2pb2b.io
Coinbene.com � Sjs.com
Dex-trade.com
Cryptocurrency Exchangers
Exmoney.me Cryptochange.am
Obmenom.com
Aggregators
www.coinmarketcap.com/currencies/edc-blockchain
www.coingecko.com/en/coins/edc-blockchain
www.coindar.org/
www.coinhills.com/market/edc/
www.feixiaohao.com/currencies/edc-blockchain
cryptocurrencies.com.au/cryptocurrencies/edc-blockchain-edc/
www.coinbase.com/price/edc-blockchain
coinlib.io/coin/EDC4/EDCBlockchain
coincost.net/currency/edc-blockchain
www.investing.com/crypto/edc-blockchain/markets
cryptonews.com/coins/e-dinar-coin
www.coinlore.com/coin/edc-blockchain
www.cryptocompare.com/coins/edc/overview
neironix.io/cryptocurrency/edc_blockchain
coinmarketcal.com/en/coin/edc-blockchain
*The list of a�liate exchanges and platforms are subject to change. The current list is presented on the EDC Blockchain website in the “Exchange” section.
4.1.4 Ways to integrate EDC Blockchain
In order to connect the exchange to the EDC Blockchain system, we have developed 3 integration methods:
1. Deploying the EDC node on the exchange
For when the exchange is supposed to be heavily loaded with EDC transactions or other transactions on the EDC blockchain.
The witness_node + cli_wallet processes are deployed on the exchange, both are necessary for interacting with the node, i.e. sending the signed transactions and receiving statistics on them. In this case, exchanges can’t create replenishment addresses for users, so they use MEMO transactions (which they themselves generate) to recognize these users on their side. MEMO is a comment for a user-made transaction where users can specify the necessary information. This term is also known as Destination Tag, Message, etc.
2. Exchange interacting with the EDC receive-service
For moderate load conditions.
The exchange interacts with the receive-service, and not the node, according to REST. The receive-service, in turn, interacts with the node that all the exchanges using this service share. It is possible to generate user addresses and get their history.
3. Exchange interacting with its own node, deployed on the EDC
side
For moderate load conditions.
Since the node requires certain system resources of the server (2GB of RAM and more), it wouldn’t be convenient for every exchange to run it. But, at the same time, exchanges want to fully use API EDC and not be tied to the more limited API receive-service. In this case, the exchange starts the lightweight cli_wallet process, which, when launched, gets connected to the node according to the parameters we provided. There is no possibility to create user addresses for replenishment (using MEMO transactions, as in the case of the node on its side).
The following scenario is also quite desirable:
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Our goal is to make our technologies and knowledge work for you!
It’s considered the most reliable one since it implies working with the delayed node containing only the blocks accepted by the blockchain.
4.2 Coin Constructor
The EDC Blockchain system implemented the Coin Constructor system, which allows you to issue, store, trade and manage digital assets. This provides opportunities for tokenizing your business.
The coin constructor offers one of three packages for creating your own digital asset (token), depending on the characteristics of the token that are most suitable for a certain type of user:
9.2 Intellectual property
Everything described in this document is the intellectual property of EDC Blockchain. Copying, public citation and other forms of disseminating information from this document is allowed only with reference to the official website of the blockchain.mn project.
10. Contacts
t.me/EDCBlockchain
blockchain.mn
7. Mass media on EDC Blockchain4. Crocobit - a p2p platform for direct secure cryptocurrency exchange between users and a browser crypto wallet;
5. ECRO Wallet decentralized cryptocurrency wallet and other projects.
The EDC Blockchain platform is part of the ECRO System universe and interacts with its products. The EDC coin will be integrated into all ECRO System products for the effective interaction of all the elements of the global ecosystem.
Official ECRO System website: ecrosystem.com
Official ECRO marketplace website: ecro.net
6. Partners
ECRO System
ECRO System is a blockchain platform created for business development with the help of blockchain technologies, artificial intelligence and high-tech products. The mission of the ECRO System is to create conditions for global trade and develop services using integrated blockchain solutions.
The main product of the ECRO System is the ECRO blockchain marketplace, which brings together sellers and buyers for mutually profitable cooperation. ECRO will help the sellers find new customers through providing access to the large community of the project, while the buyers will get a choice of hundreds of thousands of goods and services with the option of paying with cryptocurrency.
Additional products of ECRO System include:
1. ECRO Academy educational platform for training users in the field of blockchain technologies;
2. ECRO Startup - a platform for implementing customer projects and voting for the most promising startups;
3. BitcoBit and ECRO P2P crypto exchanges for trading and conducting fast and secure transactions;
5. EDC Road MapCode package
The user can send any number of coins based on the EDC blockchain through formation of a code in the wallet. The user packs the coin in the transmitted code, and the recipient receives it by unpacking it. This code can be sent to third parties, and the one who unpacks the code receives the coins. This tool can be used to create gift certificates and promotional programs.
Red envelope
The sender, forming the “red envelope” code package, can specify the number of people who can unpack the code, as well as the number of coins each of them will receive.
system or other coins created in the EDC Blockchain system.
The user can store their coins in their account or send them to other users.
Transaction history
The user can view the transaction history of their wallet, as well as the history of leasing income accruals.
Portfolio coin
The user can view the coins created by them through the constructor or received by them from other users and created on the basis of the EDC blockchain.
Settings
The user can set up the necessary settings for their wallet.
Anonymous transactions
The user can use the anonymous transactions function to increase anonymity and maintain confidentiality.
The versions for the following operating seem to be promising:
Windows
OSX
Linux
Decentralized wallet implemented as a plugin for Chrome
Using any of these wallets allows you to use the main features and functions of the EDC coin. The most complete and relevant version is the browser version of the wallet, since it’s always the first one to be updated by the development team.
To register, a user needs to set an account name and password. When the user logs in for the first time, they receive a “brainkey”, a unique key consisting of 16 words used for each authorization attempt. If the brainkey is lost, the user loses access to the wallet. Also in the advanced settings, the user can enable the two-factor authentication, which maximizes the security of their account.
4.4 Wallet functionality:
Currency storage and management
The user can purchase or receive coins available in the EDC Blockchain system, be it the main currency of the EDC
4.3 Wallet
The EDC Blockchain system has several wallet versions for user interaction with the EDC Blockchain:
Browser wallet
Android wallet
iOS
9. Security
9.1 Disclaimer
The purpose of the document is to introduce potential users and future EDC holders to the EDC Blockchain platform and the EDC coin (Every Day Coin). The description of the EDC Blockchain platform or its individual parts may undergo changes in the process of its development.
The information contained in the document does not imply any contractual relationship and may be incomplete. Some of the calculations and estimates indicated in this document are forward-looking information, which may affect some risks and uncertainties if the estimated and forward-looking judgments will differ to some extent from the actual events.
The document is intended solely for educational purposes, and not one of its clauses has legal force and is not binding until the project management decides accordingly. The document may be subject to change in order to provide more accurate, detailed and relevant information. All data contained in this document can be translated into other languages from time to time, as well as used for oral or written communication with potential partners or project participants. In the event that factual and other discrepancies are found in the adapted document, the provisions specified in WP in English shall prevail.
Nothing in this document should be equated to any project or call for investment activity. No part of the document can be perceived as an offer to purchase any securities and any other assets in any jurisdiction, or as a call for an offer of this kind.