EDC BLOCKCHAIN: SETTING THE PATH TO A WHOLE NEW LEVEL OF BLOCKCHAIN MINING SERVICES

in #blockchain2 years ago

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Introducing Blockchain Mining And EDC

It can't be argued that blockchain technology as well as cryptocurrencies have brought a tremendous change, benefits and advantages in many affairs of the world irrespective of the platform where it is Implemented. Inferable from the advantages and possibilities in the world of blockchain, it has succeeded in revolutionizing numerous platforms for each case guaranteeing decentralization.

To guarantee adequate security of blockchain network, Bitcoin the first blockchain Implemented a mining algorithm known as Proof-of-Work (PoW) while other mining algorithms such as PoS (Proof-of-Stake), LPoS (Leased Proof-of-Stake) were further developed.

Talking about mining algorithms in blockchain networks, PoW is known as a consensus algorithm intended to repel DDoS attacks etc and with PoW being the first developed made conceivable trustless systems, that is, there is no need for a third-party in any transaction. But nevertheless, the demerit of PoW is its high electricity consumption and risk of 51% attack.

On the other hand, is PoS; which have been argued by experts to be better than PoW as there is no requirement for high computing power thus no need for high electricity consumption in this way, the miners just stake their coins in the network which is utilized for transactions while they are rewarded with the transactions fee. Nevetherless, its drawback is that not every user has the chance to participate in mining.

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Thus by looking at the various advantages and possibilities of PoW and PoS, a group of experts chooses to offer a blockchain network known as EDC blockchain which will be secured while working with a hybrid algorithm know as LPoS (Leased Proof-of-Stake).

HOW EDC BLOCKCHAIN SUCCEEDS

By looking at the advantages of PoW and PoS, one won't be mistaken for saying that to some degree LPoS works with both; how? By remembering that PoW doesn't restrain or limit miners, LPoS was designed in such a way that owners of small coins will almost certainly lease or rent their coins to nodes subsequently forming a block, thereby receiving a reward from the total block reward which will rely upon their level of contribution while in the long run consequently prompting increasing security of EDC blockchain.
From this, it is evident that the idea of LPoS is a special one and as such users of EDC blockchain are converged into its masternodes. In addition, EDC masternode is developed to take into account the number of coins just as giving network security which is additionally utilized in affirmation of transactions and so forth.

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In the same way, EDC team plans to make mining as simple as possible so that users can without stress rent or lease their coins to a masternode. Thus, with EDC mining, users don't have to keep their own account open, neither will they waste resources like electricity; this is on the grounds that the masternode is developed to promptly begin mining once renting is finished while disseminating benefits/reward consequently among the users in accordance with their contributions.

Much the same, due to the possibility of decentralization in the world of blockchain, EDC users are allowed to manage their appropriated rewards the way they deem fit. Furthermore, above all in EDC mining, regardless of the reality it utilizes a sort of PoW algorithm, there won't be high electricity consumption in this manner offering more financially savvy solutions.

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CONCLUSION

EDC Blockchain was created by experts with wide knowledge in cryptography in this way leveraging Bitshares 2.0 Graphene protocol which then set the path for up to 100,000 transactions in every second.
With Bitshares protocol, EDC blockchain can likewise work with a few tokens at the same time while new blocks are created in every 3 seconds.

WISH TO KNOW MORE ABOUT EDC, CHECK THE FOLLOWING LINKS

Website: https://blockchain.mn

Whitepaper: https://blockchain.mn/wp-content/themes/blockchain/EDC_Blockchain-presentation_(EN).pdf

EDC Wallets: https://blockchain.mn/wallets/

Twitter: https://twitter.com/EDCBlockchain

Telegram: https://t.me/EDCBlockchain

Facebook: https://www.facebook.com/EDCBlockchain/

LinkedIn: https://www.linkedin.com/company/EDCBlockchain

Written By: AmazingKen

Bitcointalk Account: https://bitcointalk.org/index.php?action=profile;u=2451449

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