What is Edgeware?

Building smart contracts and decentralized applications (DApps) is a demanding task. All in all, developers not only have to choose a suitable platform, they also have to organize themselves, secure funding, upgrade and more – none of this is easy.

Edgeware is a substrate-based platform, and the so-called “crypto-democracy” tries to make the applications to be developed more accessible with a modular platform run by the community.

What is Edgeware (EDG)?

Dubbed “the best place to work in crypto,” Edgeware is a hub that provides a platform for digital currency developers, builders, and digital currency enthusiasts looking to establish themselves. Next generation DApp on blockchain based on substrates.

Edgeware provides a blockchain platform that allows developers to easily create and deploy next-generation DApps while benefiting from high speeds, low latency, and highly efficient consensus mechanisms. In addition, the platform has a community managed treasury where users can request funding for their development.

In addition, the platform also offers infrastructure communities that can assemble themselves into various working groups and organizational structures and then work together on tasks. This helps to maximize efficiency and use of resources.

The EDG token is a central pillar of the Edgeware ecosystem and is used for a variety of purposes, such as:

Developed since 2018, the platform is being developed by Edgeware Commonwealth Labs – a company dedicated to developing next-generation decentralized infrastructure products and governance protocols. This initiative is also supported by Parity Technologies, the company developing the Substrates / Polkadot platform.

How does Edgeware work?

Blockchain Edgeware is based on substrates, which is also the infrastructure of Polkadot. This gives developers a powerful platform to launch their DApps while also allowing interaction with the DeFi ecosystem on Ethereum thanks to a custom EVM (Ethereum Virtual Machine) palette.

The platform has been designed to be as accessible as possible and allows developers to build powerful DApps in WebAssembly (Wasm) and Rust or to port their Ethereum DApps directly to Edgeware with or without modification.

Some of the key specifications of the Edgeware blockchain are 6-second block generation times, weight-based transaction fees, and extreme flexibility – thanks to an ever-growing range of modular pallets.

The platform is secured by a highly efficient nominee proof of stake (NPoS) consensus mechanism. This mechanism combines a nominator, a validator to keep the network secure, and a slashing policy (punishment) to prevent cyberattacks and fund the Edgeware Treasury. Almost every EDG owner can participate in NPoS and benefit from their holdings through staking.

Edgeware is managed by the community and divides the organizational structure into four levels, including on-chain employees, work groups, project teams and the DAO ecosystem. This enables projects and employees to better organize themselves and make optimal use of their resources, and makes it easier to find new like-minded people and talent.

The Community-Governed Treasury is available to fund community development efforts and suggestions as well as general upgrades to the Edgeware platform. To recommend spending for the Treasury, users must pay a reserve of at least 5% of the proposed spending in EDG (at least 1,000 EDG). If approved, the expenses will be reimbursed, otherwise the expenses will be reduced and transferred to the state treasury.

Mainnet Edgeware was launched in February 2020. Since then, the team has been working on it step by step Timetable and suggestions for improvement from the community. Some of the major releases come like the Edgeware to Ethereum Bridge, the launch of a secondary Canary network (like Polkadot’s sister network Kusama) and the bidding for a Parachain slot on Polkadot.

What Makes Edgeware Unique?

As a community-driven project, Edgeware’s mission is to provide an ecosystem where builders and developers can thrive and get their products to market faster. The platform has a number of unique attributes that do justice to this task, including:

Community administration

Edgeware is managed by the EDG owner community. Stakeholders can submit suggestions for improvement, which, if approved, help shape the development of the platform and update the roadmap. Additionally, all network upgrades must be approved by the minimum number of EDG owners before going live.

Edgeware collective

Edgeware helps individuals and companies work together on a common goal or problem by participating in the Edgeware Collective. These are communities that work together to achieve one or more goals.

Since the middle of the year, Edgeware’s Economics Collective has been the most popular community with over 500 members. follow Website Officially, 9 groups are currently working together.

Expand HDApp ecosystem

This platform is currently used to create various DApps. Examples are the blockchain-based messaging service MailChain and the trading platform for synthetic derivatives dTrade.

Lockdrop

Edgeware is the breakthrough platform implementing the new lockdrop token distribution mechanism. Lockdrop is a mechanism whereby users have to temporarily lock their ETH in order to throw off a small portion of the EDG supply from the air.

After the first extremely successful lockdrop, the EDG token is one of the ERC-20 tokens with the greatest circulation and has over 15 million unique addresses. A total of 90% of the offer was distributed to the community via the lockdrop.

What is substrate

Substrate is a platform that offers a highly flexible and modular framework for creating special blockchains.

As a product of Parity Technologies, Substrate gives developers a lot of control over their blockchain specifications and allows them to upgrade without forks, custom consensus mechanisms and block execution logic. , as well as support for multiple programming languages ​​(including C ++, Typescript and Rust) thanks to the support of WebAssembly (Wasm).

Due to its modular nature, Substrates is supplied with a variety of pallets that allow developers to easily set up their blockchain with standard functions and get started quickly. Or they can create their own palettes to add certain features that are not yet available. Palettes are a special kind of Rust module made up of a collection of types, implementations, and functions that can make up the Substrate runtime.

As a blockchain with smart contract functions, Substrate can support decentralized applications. One of the standout elements is the support of other smart contract solutions (like EVM), which enables developers to easily port their code to substrate-based platforms.

Minh Anh

According to Coinmarketcap

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