By using smart contracts on blockchains, enterprises can tokenize all tangible and intangible asset, integrating real and virtual economies, creating a new and enormous economic system and in a programmable economy.
Despite the advancement in blockchain technology in the past decade, enterprise adoption of blockchain technology has remained anaemic. None of the incumbent smart contract platform fulfills the necessary characteristics enterprise users needs. Enterprises require a platform that is secured, private, scalable and have reliable transactions processing rate with reasonable fees. EdenChain solves these problems and provide a unique enterprise-ready solution for ease of adoption by enterprises.
There are quite a few ways why Edenchain, the next generation blockchain platform, is different from the current incumbents. It is also because of these differences that EdenChain can be readily adopted by enterprises, because it was designed for enterprises.
(1) Allows enterprises to retain privacy and control. EdenChain can process both deterministic (uses only data on the blockchain) and non-deterministic (can interact with external databases) smart contracts. This gives enterprises the ability to keep sensitive corporate information private while being transparent on on other information to be accountable to the users. Some examples of sensitive information includes personal data of users, data which can be exploited by competitors in their industries, or data that might be harmful to national interest.
(2) Highly-efficient: Cost of running the network is kept low through efficient use of computational resources. On EdenChain platform, computational resources not wasted by having all full nodes individually validating smart contracts. The trusted environment uses only a certain number of nodes per namespace, keeping the network secured while processing 100% of all transactions.
(3) Reliable transaction processing speed with reasonable transaction fees: EdenChain processes transactions on a first-in-first-out basis. This appeals to enterprise users because they can be assured that all transactions will be processed. Transaction costs will remain stable, even during peak usage, providing certainty for enterprise users.
(4) Scalable and flexible: EdenChain uses the namespaces technology to run parallel execution of transactions. Each namespace can process up to 1000 TPS. Depending on the need of the enterprise, multiple namespaces can be adopted, offering flexibility over the computational resources needed.
(5) Security: Interacting with external data can lead to security vulnerabilities in the bridge layer, where there are many points of data transmission which a hacker can intercept the message. However, EdenChain’s E-Bridge guarantees zero-knowledge trusted connectivity between on-chain and off-chain data. The architecture is designed to ensure secured connectivity that the Oracle server and SGX Enclave, are located off chain and an executor and oracle client on-chain, through the use of HTTPS and ECC-TC encryption. Furthermore, the executor that is equipped with the Ethereum Virtual Machine (EVM) is run in insolation to ensure security. To further enhance security in the E-bridge system, the E-Oracle server are operated in a separate space called the SGX Enclave, which protects data and programs running in the enclave from attacks by placing programs in separate spaces, encrypting the data, and making them unreachable by external processes.
(6) Decentralised committee managing the permissioned blockchain: The committee, comprising of EdenChain’s partners, developer community, and user community, will be key to ensuring that well-behaved nodes are allowed, to maintain integrity of the network. The committee also has oversight over other operational aspects of the blockchain such as determining the transactions fees.
EdenChain is a blockchain platform, design for enterprise-users.
EdenChain, a blockchain platform designed for global enterprises was originally published in EdenChainio on Medium, where people are continuing the conversation by highlighting and responding to this story.