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How can I be involved in EDC staking?

Staking, unlike mining, does not require buying farms, spending a huge amount of electricity, and other specific skills. The main requirement for the owner of the coins is to keep the coins in their wallets. After coins have been staked, nodes start generating new coins, rewarding stakeholders with a daily bonus in proportion to their contribution. Each person determines the staking amount – the larger the stake, the greater the reward. After the staking period expires in 365 days, your coins are returned back to your balance.

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What is the sharing economy? How is EDC Blockchain evolving in this direction?

Sharing economy is an economic model of joint consumption or collective use of goods or services without mandatory ownership. Development in this direction will greatly facilitate the life of users and make it more convenient and comfortable. Thanks to this model, users will gain access to sharing services and participate in the international EDC Blockchain loyalty program, earning rewards and exchanging their bonuses for the services provided.

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How can I transfer a check code or a red envelope? What are anonymous transactions?

With the “check code”, you generate a special code containing a certain number of coins and indicate the time during which the recipient can use the code and receive funds. Just select “Checks” when sending transactions. If you want to send the code to several recipients at once, use the “red envelope” by selecting “reusable check code”. These tools are used as bonus rewards in promotions, loyalty promotions, contests, and paying out salaries. If you want to keep privacy when transferring coins, enable “Anonymous transaction”, and the recipient will not see your name wallet.

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How can I burn a coin, and why is it necessary?

You can burn coins by sending your coins to a special burner account, from which it is impossible to withdraw any assets. Currently, this is a coin-burner account. Each user can transfer the required number of coins to this account https://wallet.blockchain.mn/ranks to deploy a node, or any number of coins, thus contributing to the creation of a coin shortage, increasing value, as well as contributing to the support of the EDC blockchain. When sending transactions to a burner account, the commission is 0%.

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Where can I use the EDC coin?

EDC coin is used in a few ways:
● As a bonus coin for staking service users;
● As a tool for holding loyalty promotions, bonus programs, gift certificates, and bonus accruals by entrepreneurs;
● As an exchange tool for goods and services in HoReCa, eCommerce, and the sharing economy;
● Trading on liquid exchanges (https://blockchain.mn/exchanges/).

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What is the role of the witnesses?

A user who is involved in a staking service has the right to be a witness (Witness, Witness Node, Validator, Block Producer) by fulfilling certain conditions. Witnesses are responsible for reaching consensus in the process of creating and validating new blocks, for which they receive a daily reward. If the witness is ineffective, they will be quickly removed and replaced by another witness, thus ensuring a smooth network operation.

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What kind of ready-made package solutions for creating a cryptocurrency does EDC Blockchain provide?

EDC Blockchain offers ready-made package solutions for creating a cryptocurrency. You can choose one of the following packages – Basic, Plus, or Premium – depending on your budget.

● Basic. You can create a coin, give it a symbol and a description. The characteristics included in this package make it possible to create a nominal token or a token for a small turnover.

● Plus. It gives you the opportunity to change the emission number, premine, and set the characteristics of the coin, such as the symbol and description.

● Premium. You will have the opportunity to create a full-fledged cryptocurrency, fully configure all the characteristics, as well as set all the necessary parameters! This is an advanced solution for serious projects.

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What are the advantages of EDC Blockchain?

● Transaction speed is up to 5 seconds thanks to the use of Graphene technology;
● The opportunity to be involved in the staking service and receive staking rewards;
● Creating coins and tokens for small and medium businesses using the coin constructor;
● Using EDC coin as a bonus coin in loyalty programs;
● Blockchain support by validators that ensure the decentralization of the network and the reliability of transactions;
● EDC Blockchain is actively introducing advanced technologies and making blockchain products available to everyone!

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How does the EDC decentralized blockchain work?

At the first stage of switching to decentralization, each member of the EDC Blockchain network can deploy a node and become a witness. Witnesses receive a reward for deploying a node on their server and processing transactions. The need to verify operations by attracting validators makes it possible to conduct only legitimate transactions.

The transition to the public blockchain will take place at the second stage. After verifying the work of the witness nodes and voting for the inclusion of their nodes by an independent committee, users will get the opportunity to vote and make decisions, while continuing to be rewarded for the work of their nodes.

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Do you have any questions?

If you have any questions, our support team will help you understand all the intricacies of the EDC Blockchain.

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Crossing 100 Witness Nodes Launched and Increasing Validator Rewards

The number of witness nodes in the EDC Blockchain network has reached 100, having increased by 37% over the previous month. We congratulate all members!

In the light of this, we want to share the following strategy regarding the EDC Blockchain reward system:

1. Validators are active users of EDC Blockchain who make a significant contribution to its development. We want to reward all witness accounts: the confirmation payout will be increased from 0.1 EDC to 1 EDC per block. The reward will start to be credited to your accounts on the next maintenance, at 9:00 (GMT). Thank you for your participation, offers and creation of unofficial platforms/instruments for using the EDC coin.

2. When the following 100 witnesses join the network, your reward will steadily increase by 1 EDC / block. Example: As soon as the number of witnesses reaches 200, your reward will be 2 EDC per block, as soon as we cross 300 witness nodes connected, your reward will be 3 EDC per block, and so on. As more witness nodes will participate in verifying transactions and voting for changes in the future, this will make the EDC blockchain more secure, efficient and decentralized.

You can find information on setting up your witness node here.

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On the platform, you can create your own token
which will be protected by a special code. Walk the path from creating a simple token intended for small turnover,
to a full-fledged cryptocurrency with advanced features which is based on the PoS mining algorithm.

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Staking is the process of storing coins to support all transactions on the blockchain.

Just stake your coins in the wallet, thereby allowing the system to issue new EDC coins and automatically distribute the reward.

The reward is credited the next day after staking is activated. Upon the expiration period, the coins are returned back to the user's balance.

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EDC Blockchain Digest.
Opportunities with the EDCB Token and Increase in the Number of Witnesses

Dear users, thank you for supporting the EDC Blockchain platform and participating in its continuous development.

Custom ERC20 tokens have been successfully swapped to BEP20 tokens. In your personal wallet, you can start depositing and transferring EDCB (BEP20) tokens running on Binance Smart Chain (BSC).

Open the "Finance" tab in your personal EDC Blockchain wallet to send and receive tokens https://wallet.blockchain.mn/exchanges/balance

The successful transition of the ERC20 token to the BEP20 standard allows expanding the range of opportunities for BEP20 token holders, therefore, the transaction time was reduced to 3 seconds, while the fees were reduced by around 20 times (!). Using the EDCB token in EDC Blockchain wallets saves you from the need for additional authorization and verification activities, unlike the other wallet providers. This integration also allows you to store and use BNB tokens in your EDC Blockchain wallets.

Note. Use gas in BNB from your wallets when transferring EDCB tokens.

Our network continues to involve the larger number of witness nodes (nodes for validating transactions and new blocks) to increase the decentralization and move to the public blockchain. So we are scaling the and clustering the platform. 103 witness nodes have been operating on our platform. Any active participant who makes the most contribution to the platform can become a validator and receive rewards for their activity.

We continue to record high user demand for the web version of the EDC Blockchain wallet, which is used to carry out the largest transactions on the network. Our specialists continue to work to improve the performance of the web wallet. The EDC Blockchain wallet is available for free download here https://blockchain.mn/.

Read about the development of our products in the next digests.

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EDC BLOCKCHAIN
COIN CONSTRUCTOR

On the platform, you can create your own token
which will be protected by a special code. Walk the path from creating a simple token intended for small turnover, to a full-fledged cryptocurrency with advanced features which is based on the PoS mining algorithm.

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Activity: 1246

Merit: 3

simpsons_support

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FAQs Has Updated

Dear users,

We have updated the FAQ section so that you can easily find answers to popular questions and familiarize yourself with the EDC Blockchain technologies.

Major changes are the following:

1. Sections on decentralization and witness opportunities, as well as creating a node to participate in the network have been added.

2. The directions in which the project will develop, namely, the creation of sharing services and an international loyalty program for the community, are expanded.

3. Information about the possibility of participating in the staking service and receiving daily bonus accruals has been added.
You can check the updated FAQ section here.

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