EDGECOIN: Our Founders' Internal Blockchain
EDGECOIN is private, which makes it suitable that us use as a repository of records for our founders. We began testing EDGECOIN with innovators in our portfolio in early 2015, and we are now revealing it publicly as we scale up the number of people utilizing EDGECOIN.
Why Did We Create EDGECOIN?
It requires a village to build a business. Every milestone in a company's life seems to be the result of the support and guidance of those other founders, friends, shareholders, operators, and advisers, from introducing a company to its initial investors to assisting with hiring and client leads. Many of these exchanges are overlooked. We began by developing EDGECOIN, a public cryptocurrency ledger that keeps a safe, irrefutable record of anytime one of our founding members or advisors has indicated that we should spend time again with the seed-stage founder. We use the EDGECOIN ledger as a basis for accounting, and EDGECOIN holders use it as a tamper-proof record.
How EDGECOIN Was Created
• EDGECOIN is an online wallet, according to our creators and advisers, that allows a user to use an EDGECOIN on trust transfers — which, currently, is a referral of a company or bright entrepreneur that we must meet with. When an EDGECOIN is used, the Edge team arranges a meeting with a suggested company within 72 hours.
• EDGECOIN acts as a record of the vital ways our inventors and advisers assist us, encouraging them to profit from successful businesses. It also provides us with a useful dataset for observing how our network interactions and correlating them to a variety of other interesting results.
• With a few minor changes, the EDGECOIN codebase was borrowed from Litecoin:
• Instead of L, addresses begin with E.
• There are no fees associated with transactions.
• The duration of each block is one minute.
It operates on a couple of medium Amazon EC2 instances (for backup) behind a tight firewall that only allows connections to the RPC port from the EDGECOIN frontend computers. On one of the daemons, we utilize the account functionality of the Litecoin daemon to keep track of user addresses, balances, and so on, but every transaction between two accounts takes the raw money transfer protocol to construct and broadcast a valid transaction.
We've placed a lot of heavy lifting and data models on top of the EDGECOIN blockchain, and the EDGECOIN backend servers handle much of it. We chose to present a feed of transactions ordered by time without always blocks on the block explorer main page due to the relative infrequency of EDGECOIN transactions (when compared to public blockchains).
While it is by invitation only to spend EDGECOINS, anybody may use our public block explorer to examine the EDGECOIN network. The explorer acts as a publicly verified log of EDGECOIN network activity, enabling anybody to view and verify transaction data.
We will allow an EDGECOIN holder to produce a required to adequately this data signed by the private key regarding the public key used in the transaction to prove to others that they implemented an EDGECOIN transaction and show someone else the metadata (transaction statement, website, etc.) affiliated with it. If the sender of this string delivers it to someone, the receiver can check the signature to see if the sender possesses the address used throughout the transaction.
EDGECOINS provide a far more diverse network.
EDGECOIN also helps us grow our network of diverse founders with whom our staff communicates. We're excited to be working with Freada Kapor Klein, founder of the Global Scale Institute, and the Kapor Financing team to increase access to financing for a wider range of entrepreneurs as a starting point, in addition to the founders in our platform. EDGECOINS will allow Freada and the Kapor Partners team to identify companies established by underrepresented entrepreneurs, allowing them to engage in direct partner negotiations with Edge. If you are interested in supporting us with these efforts, please contact us.
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