CRYPTO VADER (SHUKRI HAMID) WAS SO IMPRESSED BY EDENCHAIN's TALK IN KUALA LUMPUR, MALAYSIA THAT HE DECIDED TO WRITE ABOUT THEM AND ASK IF THIS COULD BE PLATFORM TO CHALLENGE GRAB, THE GOLIATH OF RIDE-SHARING IN SOUTHEAST ASIA.
Many good things are happening to Korea these days. Not the least of which is the upcoming historic Korean Summit which sets the table for everlasting peace on the Koreas peninsular. And this augurs well for the pace of Innovation in Korea, a country where 31% of the working population is involved in Cryptocurrencies.
I miss Korea I must admit. I worked in Seoul for 1 year when I was an Engineer for Motorola (are they in Korea nowadays) and remember how hard working the Koreans are! And Koreans have been confirmed to put in the most hours in a week, which is a whopping 68-hours. And in those days, after a long day of work, we would go out for dinner and be served with these small and cute "finger food" called Kimchi! And what a delicacy it is, for it got me to finally eating vegetables every day.
There are many types of Kimchis and there are many types of blockchains coming out from Korea, not least is ICON ICX which I bought at ICO for US$0.11 and which has given handsome returns, making me a US$ millionaire. So I'm always on the lookout for the NEXT BIG thing, and am not surprised that this also originates from Korea (there are others like Hycon and Yggdrash) , and it is Edenchain, a programmable blockchain for the a programmable economy platform, a blockchain which uses Merkle Tree and parallel namespaces with speeds of 65 million transactions per second.
Fall off my chair, say that again? Well then, why don't you research on E-Oracle (for external system) and MVT (Median Voter Theorem) as a consensus algorithm which provides reliability and safety. And in describing what Eden is, I just can't help but make a comparison against other blockchains - PAST, PRESENT and FUTURE.
And the 65 million transactions per second is only the start because theoretically Eden Chain can handle an infinite number of transactions since Scaling Up linearly is achievable because there is NO limit to the number of namespaces and transactions. Namespaces can run in parallel and each namespace can run 1,000 transactions per second.
No wonder Private Sale with a minimum of 100 Ether was snapped up and Whitelist was closed within 30 minutes!! Now there is a lottery for 500 spots of which I am sure will cause all sorts of FOMOing to get a spot in this exciting ICO. And it is a very special Blockchain since it allows all your values to be CAPITALIZED and TRADED. Edenchain is a fast 3rd generation blockchain techology platform that allows all your tangible and intangible values to be capitalized under a Smart Contract blockchain, and freely trades through the Internet WITHOUT A MIDDLEMAN. And it does this with breakthough technology, while not compromising high performance and secured connectivity. Ethereum Sharding you say, expecially with Vitalik Buterin's recent tweet showing progress that front. Well, parallel namespaces blows Ethereum out of the water into space.
So what makes Edenchain so special? Well let's start out with the team and people. This is a very special team indeed. One important lesson I learned first hand by investing in ICON is the need for collaboration between the top tier private sector, institutions of higher learning and the government. A place where the best minds from academic backgrounds and entrepreneurship can meet together.
James Ahn the Founder of Edenchain, has both Public and Private sector experience, and is a consultant to the NIA platform and a technical advisor to the National Computing and Information service, and is a advisor to the Cloud for Korean Agency for Technology and Standards. And I like the honesty of this man, since in Linkedin, he says it's "awesome and promising" but not perfect. Co-founder Jenny Ryoo is a Blockchain developer with 10 years of experience in IT. She is a big data specialist, and co-author of a book and has written two papers. Talk about Blue Chip, she also wrote award winning Bachelor's and Master's thesis at Korea University and Dongguk University, respectively.
On the Strategy side, they have Kangho Kim, who was a derivatives trader, an analyst and a portfolio manager. And trust me, these involve complex mathematics, especially for predictive analytics. He has managed over US$1.6 billion in funds for fixed income, derivatives and alternative assets. And talking about WALKING THE TALK, Kangho was also in Kuala Lumpur where he introduced the latest member of the team!!
The advisory team is full of Blue Chip academia and PhDs such as Don Chang, Joonheong Kim, and Sungho Kim. Advisor Mina Jeong is an experienced PR specialist and has served global companies in the IT industry.
A DREAM ALL STAR TEAM indeed. But this team does not develop Edenchain, they are also educators, contributing the community in Korea. James Ahn supervised the Book "The Overnight Discovery of Blockchain" which recently released in 5th March 2018 in Korean. The book was also co-authored by Mina Jeong, the CEO of M&K PR, the largest telecommunications agency in Korea.
Blockchains are now a dime a dozen. But Edenchain is clearly shaking up the establishmentSecurity is provided for by using ECC-TC which is very powerful mechanism that can protect Eden from the attack of hackers by encrypting all network data.
You can read more on the technical aspects of Edenchain in their whitepaper at their site here. So let me present an interesting use case that will make Edenchain so potent - the part about a Programmable Economy. In Southeast Asia, GRAB is the undisputed king of ride-hailing, displacing even the mighty UBER. But although GRAB is King, there is a serious whisper of discontent amongst drivers because GRAB takes a 20-25% cut off their earnings.
Now this might sound reasonable, but for drivers struggling to make living, it can be quite steep. Attempts to come out with alternatives have failed since a lot has to be spent on development. But with Eden chain, can't a similar application be developed quickly without the need for expensive highly skilled Blockchain developers? GRAB (or UBER) are clearly playing the role of a middleman in the ridesharing application in this "sharing economy". Why can't the Grab drivers get together, form a cooperative to develop an alternative application and even run an ICO to manage the new ecosystem? This would certainly move the notch a level higher.
This is where HelloEden comes in. A permissioned blockchain, Eden has a full fledged platform for ICOs and this is very helpful because ultimately, this encourages Start-Ups to create DApps to disrupt traditional businesses. And we can see this in other ICO blockchains such as ICON coming up with ICO platform such as ICONest. But what will ultimately determine the winner is the ability to launch DApps quickly and the ability to PIVOT since disruption (going against giants such as GRAB in the example above) needs to require a lot of flexibility. This is an example of people taking advantage of Edenchain to capitalise on TANGIBLE/INTANGIBLE values and trade them safely, quickly, transparently on Eden. Here it is the need for Customers to have convenient
And another advantage is EdenChain already has 2 MVPs. This is of course an issue with ICOs because of the delays ultimately impact on Credibility. Hello Eden! Hello Edencheain! And Hello to a wave of new Decentralised applications plus Bye Bye to middemen!! FOMO alert going through the roof here.
To enjoy a YouTube review of Eden ICO, then goto my Youtube channel at: http://bit.ly/2JqBJ26