EdenChain’s Masternode Program
EdenChain’s masternode program is an opportunity for long term EdenChain supporters, especially those who believe in our vision and strategy, to contribute and share the fruits of our success. EDN holders can stake a predetermined number of EDN tokens through a hyper node or a super node to unlock the ability to contribute to Edenchain through marketing/ promotional efforts or node governance. Masternode contributors will receive token rewards based on their contributions.
Overview
EdenChain is a permissioned blockchain platform unlike its permissionless counterparts, such as Bitcoin and Ethereum. Because of its structural difference, EdenChain’s Masternode participants will collaborate with EdenChain to fulfill roles unique to it, and different from those required of traditional node participants. Permissionless blockchain platforms need people who provide computing power to the blockchain network. As a permissioned blockchain, however, our needs lie more in building strong business partnerships and less in gathering computational resources. We think that community plays a more prominent role in brand success in the blockchain industry than it does in other fields, and our program is designed to reflect our belief. We view masternode participants as business partners who will communicate with the community and helps us manage the public relations on behalf of EdenChain’s success.
Characteristics of EdenChain’s Masternode Program
- New Business Opportunity = New Masternode Session
Eden wants to share the fruits of EdenChain’s business with more community members. As such, we want to inaugurate a new Masternode session with each new business opportunity. New nodes will be elected for a new session, giving more people a chance to participate.
2. Revenue Sharing
As an enterprise-centric blockchain company, EdenChain has a considerable interest in revenue-generating dApps. We want to highlight their business models and technological superiority that led them to success. Our Masternode Program creates a mutualistic symbiotic relationship between EdenChain and node participants in the following ways. First, your contribution, such as sharing dApp link, communicating with dApp users and EdenChain community, may increase your rewards as there is a correlating relationship between the performance of dApps on EdenChain and the rewards received by node participants. On the other hand, these contributions will collectively boost EdenChain’s brand value. For the node participants of the first Masternode session only, EdenChain guarantees an additional 10% bonus in celebration of the opening of the Masternode Program.
3. High Number of EDN staking
Let us explain the rationale behind setting a high number of EDN stake as a qualification to participate in the program. Before designing our Masternode Program, we researched for structures that enterprises would prefer to find in our program. During the process, we discovered that enterprises and dApp companies favor a smaller number of node participants due to better governance and controllability. Aligning our model to this preference, we require a high number of EDN to raise the bar of entry and limit the number of available positions. However, we want to also open the opportunities to members with smaller EDN stakes, which led to the Masternode Pooling System. With the pooling system, people can gather their EDN balance under one name to meet the qualification. EdenChain acknowledges only the group name; users have full freedom over recruiting members in the pool.
As a side note, we encourage enterprises to have at least one member from their community as a masternode to monitor various feedback from the community.
Key Masternode Features
● EdenChain is a permissioned blockchain platform that uses cloud services to ensure a high degree of availability. In this structure, node participants do not need to provide computing resources to support EdenChain.
● In the EdenChain Ecosystem, the Masternode Program creates a mutualistic symbiotic relationship between EdenChain and node participants. Any level of business contributions from nodes may increase our brand value, thereby increasing their revenue share. To qualify as a Masternode contributor, participants must stake a predetermined number of EDN tokens for a set period.
● Masternode contributors are rewarded for their business contributions.
● Each new business opportunity will have a separate Masternode session.
To read more, visit EdenChain’s Blog
