Recently, tokens in the Polkadot ecosystem are very interested in the community. Some prominent projects such as Kusama (KSM), ChainX (PCX), Ocean Protocol (OCEAN) ...
In this article, Coin98 team will work with you to learn and analyze the Edgeware (EDG) project - one of the most traded projects on the MXC.
- 1 What is Edgeware?
- 2 How does Edgeware work?
- 3 What is special about Edgeware?
- 4 Edgeware (EDG) price, marketcap, chart, and fundamentals info
- 5 Basic Information about Copper Edgeware (EDG)
- 6 Token Allocation
- 7 Token Sale
- 8 Token Release Schedule
- 9 Edgeware (EDG) rate today
- 10 What is Edgeware (EDG) used for?
- 11 Edgeware (EDG) wallet
- 12 Edgeware trading platform (EDG)
- 13 The Future of Edgeware (EDG)
- 14 Should you invest in Edgeware (EDG)?
- 15 Summary
What is Edgeware?
According to the definition of team dev:
Edgeware is a smart contract platform with high performance, self-upgrading WASM within the Polkadot ecosystem.
Edgeware is developed by Commonwealth Labs. Commonwealth Labs is a token management firm based in San Francisco.
Note: WASM (WebAssembly) is a technology in the field of Web application development.
According to the definition of Coin98:
Simply put, Edgeware is a blockchain project that allows coders to build Dapps, Protocols, DAOs ... on the Edgeware platform.
In the section below, I will talk in more detail the outstanding features of this project.
How does Edgeware work?
In Edgeware's network consists of two main components: Coder and User.
- Coder: Edgeware provides better conditions for the coder to build and develop the above dApps.
- User: This is an important element that determines the development of the network in the future.
Users have the right to vote, authorize, and fund technology improvements and upgrades through the DAO, the cryptographic voting system, the economic mechanism ...
Users in the Edgeware network will have certain rights through governance mechanisms and unique token distribution mechanism Lookdrop (understandably, this is staking ETH that creates EDG coin).
The users participating in the Lookdrop will have a say in the network's future, and their decisions will affect the network's upgrade.
In return, the user will receive rewards for their contributions in the network.
What is special about Edgeware?
As introduced by Edgeware, they have the following outstanding features:
The first Smart Contract on Polkadot
After Polkadot In operation, Edgeware is the fastest and simplest bridge for other projects to be deployed on Polkadot.
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Built on Parity Substrate
Substrate provides the basic infrastructure components needed for a blockchain to thrive. It allows Edgeware to execute Smart Contracts, decentralized applications, network administration elements ...
Nominated Proof of Stake
Edgeware uses the Nominated Proof of Stake (NPoS) protocol to optimize the system. The users in the network have the right to vote, delegate and sponsor each other.
Currently, each block lasts for 5 seconds, ensuring network latency while keeping the speed of processing large volumes of transactions.
Edgeware (EDG) price, marketcap, chart, and fundamentals info
EDG is the official token of the Edgeware infrastructure platform. EDG was launched in the form of Lookdrop.
Edgeware launched on the mainnet in February 02.
Basic Information about Copper Edgeware (EDG)
- Ticker: EDG
- Blockchain: Edgeware
- Token type: Utility Token
- Total Supply: Infinite
- Currently Supply: 5,467,988,804 EDG
With an initial supply of 5 billion tokens, EDG is allocated by the development team into five parts at the following ratio:
- 4.5 billion tokens are distributed to ETH holders through the Lockdrop method.
- 225 million tokens are used for Commonwealth Labs.
- 150 million tokens for technology development.
- 125 million tokens as a reward for individuals contributing to the project.
With the above token distribution, it will not bring any outside capital. However, Commonwealth Labs raised $ 2 million from an endorsement.
Token Release Schedule
Below is the project's token unlock time:
- Lockdrop: individuals who participate in their ETH lock for 3, 6, 12 months will receive 100% EDG tokens after the mainnet project. Individuals who only participate in "Signal" (unlocked) only receive 25% EDG after the mainnet, the remaining 75% will receive 1 year after the mainnet.
- Commonwealth Labs: No unlocking schedule.
- Parity Technologies: No unlock schedule.
Note: Each year there will be billions of EDG tokens born, the current inflation is about 20% / year.
Edgeware (EDG) rate today
What is Edgeware (EDG) used for?
EDG token is considered as the lifeblood of the Edgeware network, below are some of the applications of EDG:
User uses EDG for voting participation to manage project activities.
A user participates in staking by staking EDG participates in confirming transactions on the network and will receive a reward from the project.
The reward is currently 158 EDG / block.
EDG will be the means of payment in future applications such as: DAOs, dApp (including DeFi) ...
Edgeware (EDG) wallet
Edgeware is built on PolkaDOT platform so the EDG token can be stored on the PolkaDOT network. Click here to create EDG storage wallet: https://polkadot.js.org/
Besides, there is a mobile wallet platform that also supports storing EDG tokens, Math Wallet.
Additionally, brothers can host EDG on listed exchanges.
Edgeware trading platform (EDG)
After 6 months of launch, EDG token is currently ranked 100th CoinGecko.
The average total trading volume over the past 30 days has been around $ 0.5 million. That shows the liquidity of EDG is quite poor at the moment.
OXT is currently the most traded on 2 exchanges BKEX and BiKi floor.
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The Future of Edgeware (EDG)
In the future when Polkadot operates, Edgeware will be the bridge providing infrastructure for projects operating on Polkadot. This leads to an increase in demand for EDG tokens as the EDG token serves as a means of payment in the infrastructure.
EDG is located in the Polkadot ecosystem, whose tokens are very hype. The proof is that from the beginning of the year until now, these tokens have risen sharply.
In the coming time, EDG will have many important news such as supporting DeFi, increasing staking rewards, connecting with Ethereum and Polkadot ... The news will contribute to the price increase of EDG.
Should you invest in Edgeware (EDG)?
I believe that you have also grasped basic and necessary information about EDG copper. I will note some main points for you to make investment decisions.
On July 31st, Edgeware released the roadmap from here until the end of the year. Here are the important information that I gathered from the project:
- Substrate 2.0 upgrade
- Connect with Ethereum
- Associated with Polkadot
- Associated with Kusama (Q3 / 2020)
- Launch of BuilDAO
- Support for DeFi
- Wallet launch
- Increase staking rewards
You can click here to view roadmap details of Edgeware: https://commonwealth.im/edgeware/proposal/discussion/509-edgeware-2020-roadmap-discussion
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In the roadmap, the mentioned project will launch Wallet in Q4 / 2020. But did not say details about the product. We will wait and see what the Edgeware Wallet will have outstanding features.
The largest current partner of Edgeware is Polkadot. In the coming time, Edgeware will have many new partners such as Kusama, Ethereum ...
EDG is Utility token used for: Staking rewards, governance, payment.
Hopefully my last article has helped you to have a better overview of the Edgeware project as well as the EDG token.
As for you, what do you think about coin after this article? Please share your opinions in the comments or in the Coin98 Finance community.