Edgecoin: The World's First Educational Digital Coin Payment System

 

The education ecosystem faces many challenges in the payment and processing of various fees in the system. Payment of expenses such as tuition, accommodation, stationery and other related expenses takes unnecessary time and expense.

Edgecoin management conducted research on these challenges and came up with solutions to these challenges. They established a system that would facilitate the payment of fees at partner educational institutions.

The Edgecoin community has launched an application that will be used by its users and partner institutions in the payment and processing of education and related fees. The platform is built on smart contracts on a decentralized system. This increases the transparency, efficiency and security of its activities.

The EDGECOIN system was developed to prefer solubility over this issue. It is sponsored by LA Asset Management Ltd., and in conjunction with Passion University. The system has stablecoins that will be used to control activities in the community. Applications will also be launched to facilitate the processing of payment transactions at educational institutions partnering with the platform, in accordance with institution regulations.

Edgecoin is pegged to USD to provide a hedge against market volatility and price fluctuations. This will protect its value and increase its liquidity. The system will be fully decentralized, controlled and audited for security and transparency purposes.

EDGECOIN OPERATION

Edgecoin operates in two parts. User and agent/agency section. The user must complete the KYC process while the agent/agency completes the AML. This process is very important for system improvement.

• Payment Step
• Users register and complete the KYC process on the EDGECOIN platform.
• User deposit EDGT token after login. Tokens are converted to USD at a 1:1 ratio.
• Payment can be made afterward for education related expenses such as registration, accommodation and books using dapp.

PROOF OF RESERVE FUND

Periodic reviews will be carried out on the Edgecoin platform blockchain. This will be done by an independent certified public accounting firm that the platform will engage with. This exercise will reveal the dollar balance on the platform.

EDGECOIN DAPP

EDGECOIN DAPP is a decentralized application that can be used by users of the EDGECOIN platform to make payment transactions related to education at partner institutions. The DApp features free and permissionless peer2peer transactions, instant transaction execution, and secure transactions built on smart contracts.

It is designed for cheap, easy, safe and convenient payments in the education ecosystem by its users without the services of intermediaries or banks. The target institution also receives and processes payments in real time. This process is in stark contrast to today's payment systems which are stressful, tedious and have cost overruns and security concerns.

This challenge will be handled on the EDGECOIN platform with a decentralized Application.

STELLAR BLOCKCHAIN ​​BENEFITS

Stellar network transactions have unique features with the following benefits.

Hurry up

Transactions on the Stellar platform are processed quickly unlike other platforms. It takes 5 seconds to process transactions on the platform.

Cheap

The transaction processing fee on the Stellar platform is 0.00001 XLM. This fee is refundable after the transaction.

Guaranteed

The Stellar platform is decentralized. This ensures easy and complete secure transactions.

CONTRACT SPECIFICATIONS

EDGECOIN is specially designed to operate in a fully decentralized system, based on smart contracts and widely accepted. This is the reason why management chose the Stellar network, as it is compatible with the EDGECOIN specification. The Stellar network has a large network with a wide variety of software and large users. EDGECOIN is founded on the Stellar network based on the XLM standard. The EDGECOIN platform will be technically upgraded, to ensure a tight fit of the 1:1 ratio of EDGECOIN tokens to USD. The following steps will be taken to perform the upgrade:

• Addresses security weaknesses.
• New feature extension
• Platform operation improvement and optimization to ensure efficiency
• Implementation of legal obligations and requirements of laws and government agencies.

Contractual custody

Custodial approval is required for every smart contract on the EDGECOIN platform. This guard can represent another smart contract that can look at other guards in turn. Thus creating a chain of guards. This can be an online or offline key that can be used to approve transactions.

Contract Upgrade

Upgrading the EDGECOIN system is risky and requires offline approval. The process is done by entering "Builds' ' into the "Store" of the Edgecoin ledger using a Proxy.The proxy is instructed to consider a new Build, and accept it into the store.

Once the new Build is accepted, the Build will replace the old Build. Henceforth, "Shop" only accepts calls from new Builds. Old builds don't work and exist only on the system.

Contract Security

The Edgecoin system is secured through the following steps:

Lock offline

Every high-risk operation on Edgecoin is approved with a key stored in a proprietary offline storage system.

Key Key Generation

an agreement is made with the Hardware Security Module that has reached a certain level. The resulting key is known as the "signer".

Dual Control

To increase security, at least two signatories are required to consent to high-risk behavior.

Time Lock

There is a waiting time for the execution of approved high-risk operations. This wait is used to detect potential risk factors that may be harmful to the system.

Undo

If a risk is detected during the waiting period, the approved action may be reversed to prevent an invalid and malicious action.

EDGECOIN TOKEN (EDGT)

The Edgecoin network system is controlled by a crypto coin known as EDGT. A total of 100,000,000,000 EDGT will be supplied to the project by management. Actions will be taken to control coin availability.

A "Build" process will be implemented to monitor supply and availability. It requires online and offline approval for each coin supply to the system. This process will safeguard and protect the value of EDGT from volatile market conditions. This is a special token. 1 EDGT = 1 USD

GRADECOIN

Gradecoin is an integral coin of EDGT. This enhances the achievement of Edgecoin network resource control. This token is known as Gradecoin (GRTC). It can be broken down and has no limits. 1 GRTC = 0.05 USD (RESELL VALUE).

Smart contracts that do not have eligible digital identities can be supported with GRTC for priority

Staking Gradecoin

Gradecoins can be staked for the following advantages;

Bet and Earn

GRTC tokens can be staked to earn more. Tokens staked for 10 days can earn up to 20 interest annually.

Betting soft

This is a betting process that gives up to 5% annual interest on GRTC tokens staked in the App.

GRADECOIN UTILITIES

Gradecoin can be used in a number of ways, such as settlement of cross-asset intermediary currency differences, payment of block transaction fees by all participating networks in the Edgecoin system and rewarding members involved in processing and validating transactions within the system.

EDGECOIN PLATFORM MONITORING

There will be full oversight of all transactions in the Edgecoin system by third party agents that the company will engage with. This is to ensure that the transactions comply with UK financial laws.

A leading accounting firm in Korea will be engaged to conduct regular audits on the platform to ensure the EDGT:USD ratio.

All users and partner institutions of the Edgecoin system must undergo their respective KYC and AML processes. This will help detect and prevent fraudulent activity, and ensure the security and transparency of all transactions.

WARNING

The Edgecoin community will be responsible for any misfortune or loss of funds faced by any participant in its system.

Participants are advised to consult legal and financial experts for professional direction before taking part in the Edgecoin system.

The content of the white paper and the company's website comes from sources that are considered reliable, although the company does not guarantee that it can be trusted. Therefore, the content is not advice for investment, but rather provides information about the current and future benefits and developments of the system. However, the community does not guarantee the success of innovations and techniques or their full implementation.

The contents of the white paper can be changed, modified and updated for the benefit of the community, and the action will be announced to the community through the Social Media handle.

Conclusion

Edgecoin is also familiar with the benefits of educational foundations as well as for paying typical committed students in terms of reducing their fees and moreover providing courses in which these students can earn. This is made possible through the “Earn as you learn” feature which came about due to mining of modified Gradecoin, fluctuating tokens. By working with an extraordinary closed blockchain, Edgecoin and other related DApps customers will see value in a super-fast and completely secure financial portioning system from the comfort of their mobile phones. Comparatively outstanding blockchain will enable educational foundations to obtain constant financial trading without the need for agents and subsequent settlement of fees regardless of fees charged by intermediaries.

Complete information:

Website : https://www.edgecoinpay.com/

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

Twitter : https://twitter.com/edgecoinpay

Telegram : https://t.me/Edgecoin_chat

YouTube : https://www.youtube.com/channel/UC5ekVAo2GXdMPcM03Y6r78g

Instagram : https://www.instagram.com/edgecoinpay/

Linkedin : https://www.linkedin.com/company/edgecoinpay

Author :Homio

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