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Last week, we revealed our masternode structure and received many interesting suggestions on how we could improve make the masternode structure better. A key suggestion was to allow community pooling for the masternodes given that the amount of EDN tokens needed to stake was too high for most community members.
We have carefully considered the suggestion and are excited to announce that we will be allowing community pooling for masternodes!
The structure will be as follows:
Supernodes (requirement 3,000,000 EDN)
– Community members can participate in smaller lots, with 150,000 EDN per lot to stake in a supernode
– Minimum number of stakers: 1
– Maximum number of stakers: 20
Hypernodes (requirement 20,000,000 EDN)
– Community members can participate in smaller lots, with 500,000 EDN per lot to stake in a hypernode
– Minimum number of stakers:1
– Maximum number of stakers: 40
The yield from Supernode/Hypernode will be proportioned according to the number of EDN staked in the node and participant’s contribution.
Characteristic of Eden Masternode:
Edenchain is a permissioned blockchain platform that means Edenchain and Masternode participant will collaborate on Edenchain platform unlike permissionless blockchain such as bitcoin and Ethereum. Permissionless blockchain platform needs someone who provides computing power to the blockchain network. Edenchain is a permissioned blockchain so we would say that we are looking for a business partner rather than a resource provider. In blockchain industry, community plays an important role for success. We view masternode participant as a business partner who will communicate, manage and help the community on things useful for the success of Edenchain.
Edenchain’s big interest is placed in revenue-generating Dapps. Because Edenchain aims to be an enterprise blockchain platform to show actual success cases’ of Dapp and technological superiority. As Dapps generates revenue, reward to masternode participant will be attractive. Masternode participant’s small contributions such as sharing Dapp link, communicate with Dapp users and Edenchain community, introduce Dapp to friends could be a good basis as a starting point. By aligning those small contributions will lead us to meaningful achievement.
We would also like to explain the rationale for requiring such a high number of EDN to stake in a masternode. We found out that Enterprises and Dapp Companies may prefer a small number of masternode due to governance and controllability. Edenchain is a permissioned blockchain platform and aims to be enterprise-friendly, so listening to the opinion is our duty. But we know the importance of community, we will encourage enterprises to have at least 1 masternode from the community to listen to various kinds of opinion and feedback. Masternode pooling seems to be a good way to open its gate to community members.
Details regarding the distribution of EDN tokens to masternodes and other benefits will be announced closer to the release of the Edenchain mainnet.