We are in the midst of large-scale changes affecting all areas of activity, including blockchain. You need to change and adapt to new conditions in order to keep up with the times and benefit from it, as well as grow and develop.
Companies or individuals own most of the projects, making them centralized. This approach has a number of disadvantages, the main one of which is that decisions are made by a limited group of people, without being able to influence them from other participants. When all the processes in the system are under the control of a small number of people, they simply do not have enough time or intellectual resources to make all the decisions that contribute to the successful development of the project. Developers make decisions to simplify the processes occurring in the system, introduce additional restrictions, while the system loses its freedom, becoming less efficient for all participants.
There is an urgent need to create a decentralized impenetrable network, where all participants can take part in the development of the project, become validators and vote for certain decisions.
The current goal of EDC Blockchain is to create a decentralized public blockchain platform by bringing in independent validators to support the network.
On the decentralized EDC Blockchain platform, there will be no main server to manage all the information. All participants in the EDC blockchain will be the owners of the data in this network and will have equal rights. All transactions will be carried out directly between them.
How is EDC switching to a decentralized approach?
The transition of EDC Blockchain to a decentralized blockchain will take place in two stages.
At the first stage, each member of the EDC blockchain will be able to deploy a node and become one of the validators. Validators are rewarded for deploying the EDC Blockchain nodes on their servers and processing operations (block confirmation). The need to check operations by system validators makes it possible to conduct only legitimate transactions.
At the second stage, the transition to the public blockchain will take place. After verifying the operation of the nodes of the first validators and voting by the decision-making committee to include their nodes in the blockchain, users will be able to vote and make decisions on the platform, while continuing to receive rewards for the operation of their nodes and EDC mining.
Subsequently, with each update of the blockchain, all updates will be coordinated with partners.
How to deploy an EDC Blockchain node
To deploy an EDC blockchain node to your server, you need to download the provided source files for node deployment and follow the instructions given the server specifications.
After that, in the first step, you will need to apply to be added to the network and burn a certain amount of EDC coins as a node deployment fee. After verifying that the node is configured correctly, the existing committee members will vote to add the new node to the blockchain.
The file download repository link will be publicly available to anyone who wants to participate in supporting the network, increasing the efficiency of the entire EDC Blockchain platform. Stay tuned for the link and the terms of the node deployment.
Benefits of a decentralized blockchain
- The operation of the decentralized EDC blockchain is based on the Delegated Proof-of-Stake consensus algorithm. This algorithm ensures high network reliability due to participation in the management of validators that support the operation of the entire blockchain, and does not require a single server.
- All data of the decentralized blockchain is publicly available, while its deletion or modification is excluded, which guarantees the transparency of all transactions.
- The decentralized approach allows the blockchain to be supplemented with new blockchains ad infinitum, thereby scaling the network.
- The incentive to work in the network for each of the validators is the reward for confirming blocks in the blockchain. This is how coins are issued.
- The decentralized model uses the intellectual resources of most people to make decisions, making them more efficient in any case.
What is EDC Blockchain
It is a multi-featured decentralized blockchain platform that provides entrepreneurs with blockchain tools and access to partner projects. The main feature of the platform is the EDC bonus coin for conducting loyalty campaigns for customers and the ability to create your coins or tokens using the EDC Blockchain constructor. All this allows small and medium-sized business entrepreneurs to launch startups, develop and scale their business or projects, attract a new audience, and implement their capabilities in the field of blockchain and digital technologies.
We are creating a decentralized system so that every member can vote on important issues and participate in the development of the EDC blockchain, creating a financial incentive through which node owners are rewarded for maintaining the network. This approach is the most optimal solution that our large community is striving for, and which leads to the extremely positive development of EDC Blockchain.