EDC BLOCKCHAIN: USING THE BLOCKCHAIN FAIR SYSTEM PRINCIPLE TO CLOSE THE GAP BETWEEN THE “RICH” AND THE “POOR”

aaaaken (25)in #crypto • 5 years ago (edited)

From time immemorial there has been a clear distinction and an outstanding line drawn between the rich and the poor. This line drawn between the wealthy and the poor is so prominent that it cuts across every sphere of human activities. Be it in the social gathering, political environment, education, businesses and offices etc, this clear distinction between the rich and poor clearly features itself in these areas of life as mentioned above.

This discrimination between these two classes of people – “the well to do” and the “not so well to do”, creates a very unfair system in the world. The poor seem to be the victim of this clear discriminatory line between the poor and rich, the poor or the not so well to do always develop this feeling of low-esteem whenever they found themselves among or associating with the rich…..very pitiable situation!! Low self-esteem isn’t only the resultant effect of the distinction between the poor and rich, the poor in most cases is always being denied the opportunity to achieve his set goals, of course, meeting up with one's set goals is financial and resource intensive of which the poor cannot boast of. If the poor man continues to fail in meeting up with his expectations he is heading towards perpetual bonding with his state of poverty….so many troubles for the poor!!

Lifting the poor out of his condition entails creating a fair system in almost all areas of human endeavours although it may not be totally achieved, however putting up some level of fairness to human activities might actually help in reducing the gap between the poor and rich!!

INTRODUCING EDC BLOCKCHAIN

The advent of the blockchain technology has given a strong foundation for which the principles of fairness shall be built upon and made to strive as well. It is no more strange to hear tech-savvy guys discussing about decentralization and distribution without mentioning the word blockchain.

The EDC is a blockchain network that uses the LPoS (Leasing Proof of Stake) block validation technique to mine new blocks on its blockchain. The LPoS block validation technique remains the main driver in the implementation of the principles of fairness on the blockchain network.
The EDC LPoS mining or block validation technique affords miners/coin holders the opportunity to lease their coins, no matter the quantity, to the EDC blockchain network which in turn will be used in maintaining and running the masternode that are involved in the actual mining/block validation process of the EDC blockchain.

The EDC LPoS mining technique gives a sense of belonging to all the miners (those that leased their coins) regardless of the amount of coin a miner can boast of to indirectly have a say in the block validation process done by the masternode and also provides an opportunity for miners to have some shares in the reward accruing from the block validation process. EDC LPoS has made it possible to reduce the gap between huge coin holders and holders of some handful of coins in the mining world of the blockchain technology.
The block validation or mining of the blockchain technology using the proof of stake algorithm is no longer concentrated in the hands of huge coin owners, thanks to the EDC LPoS mining technique that has come on board to carry all coin holders along in the block validation technique of the blockchain technology.

There is no better shortcut to stamping the principles of fairness and closing the gap between huge and small coin holders in the mining process of the blockchain technology, other than the deployment of the LPoS block validation technique.
Not only does the EDC LPoS mining algorithm contribute to closing the gap between small and big coin holders/miners on the blockchain, this mining algorithm equally makes it possible for miners to receive rewards passively without much input other than their coin which they leased to the blockchain network. The masternode does the validation or mining process; what the masternode requires from miners is just their coins used to run the masternode 24/7. The rewards emanating from the EDC masternode's validation actions are shared amongst the miners that leased out their coin towards the validation processes and equally shared in proportion to the amount of coin leased by each miner.
Kudos to the EDC blockchain network for employing the LPoS mining technique to truly reflect the principle of fairness being propagated by the blockchain technology!!