Ahn, Myung-ho CEO explained about the block-chain technology and the future potential of it during the talk on the DoLive show, which is a live stream youtube channel.
Ahn, Myung-ho, the CEO of Edenchain introduced Edenchain as ‘Third Generation Smart Contract Blockchain’.
The word ‘Smart Contract’ might sound complicated to some people.
To make it simple ‘Smart Contract’ is a program ran within the blockchain.
An example will be an intermediary between two friends making a deal, transferring something or even buying something. When they agree on a good condition that satisfies both the deal is made.
Smart Contract , this technology has a long history but we want to emphasize that it is developed up to the third generation. First generation Bitcoin, second generation Ethereum .
There was a question why we are launching an ICO abroad. We didn’t have any intention to establish a business overseas, on the way of forming Edenchain we have encountered massive amount of articles and information. This encounter changed our decision and we judged that starting a business abroad would be a better choice. The legal system and legal environment for block-chain is more favorable overseas and the social atmosphere is more aggressive.
We need to ask now Why ‘Edenchain ?’
You mentioned earlier about Smart Contract. Is there a possibility that this Contract might be hacked? Did you have this question? Fortunately, Blockchain is encrypted, lowering the possibility of hacking to zero.
If hacking occurs, that means blockchain itself is not hacked but other systems are and an error occurred in the system.
Edenchain makes the connection between the external system and blockchain safe. We encrypted the connecting system.
In addition, Edenchain has strength of fast processing and reasonable fee.
Was it not like this before? Yes it was. However Blockchain was not encrypted when being connected with an external system. The connection is not encrypted and safe by Edenchain. Don’t forget that it is safe connection.
There are explanation for permission-ed and permission-less blockchain and other interesting topics, we recommend you to watch the whole video when you have spare time.
Programmable Economy Platform, EdenChain !!
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