In light of the avalanche of information and digital ads that currently floods the internet space, particularly on Google, Facebook and a few other top websites, by now, the average internet user has stumbled on either of the words- token or coin at the very least, once. But stumbling is one thing, having a comprehensive knowledge of what these words actually mean is another. Thankfully, the advent of cryptocurrencies in recent times has helped to simplify everything and the possibility that this knowledge offers is vast, not to talk of actual participation in the sphere.
Bitcoin was the first platform of this kind and although it is yet the most popular and widely used till this day, the reality of the matter is it did not offer much real life use until the likes of ethereum and ripple networks became live. In spite of these new possibilities, literacy level about the cryptosphere and its underlying framework; the blockchain is still at an abysmal plain in many developing countries especially.
In the span of the last one decade, a host of cryptocurrency based projects have sprung up in hopes of fronteering mass adoption of the bespoke currencies into the real world. But the reality of today speaks volume of how much ground the cryptosphere still has to cover. The rest of this article entails an extensive review of EDC blockchain- a modern day crypto virtual infrastructure for the utility of all and sundry.
EDC is an erc-20 coin based on the bitshares 2.0 blockchain platform, which is strictly native to the EDC platform and offers vagaries of utility options. Remarkably, the framework upon which EDC blockchain operates is such that it enables small, medium and large-sized firms to also go digital, owing to the ease of tokenisation that the platform offers. And this is just one of the many possibilities that EDC blockchain portents.
Like every other blockchain network, EDC too is reliant on a process known as mining to verify and validate queued transactions. The difference however, stems from the fact that it is based on the LpoS consensus algorithm.
In fact, the leased proof of stake is significantly disparate from its parent consensus, in that, it affords any EDC user to be part of the mining process and consequently reap from same. In other words, any and every user can stake but the reward will be proportional to amount staked. One obvious advantage of this consensus is that it imposes fairness and mitigates the risks of manipulation.
Swift processing speed
Another benefit that EDC blockchain offers is increasingly fast transaction resolutions. It is considered public knowledge that the best obtainable in terms of capacity to handle transactions resides in circle of the big 3- bitcoin, ethereum and ripple. Interestingly, EDC is set to inscribe a monumental mark in the blockchain industry, that will be nothing like anything previously witnessed. With a capacity of 100,000 transactions per second, users will not have to wait for hours or in some rare instances, days for transactions to be confirmed. It will be near instant.
Ease of tokenisation for startups
It would also interest you to know that the EDC platform affords users to create custom tokens for the purpose of crowdfunding and establishing digital currency base for their businesses, irrespective of the size. And it is very easy. There is no need for technical expertise par say, as the blockchain constructor enables network operation of EDC to proceed without the usual special requirement of the services of programmers and hostings.
From the ensuing, it is safe to say it will not only revolutionise the way users interact with the cryptosphere, hopefully it will stand the test of time too. Since the block miners that make up the nodes are vast, decisions are less likely to be biased and this will go a long way to attract users.
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