EdenChain – new generation blockchain and platform for dApp utilizing cloud services and some additional functions

Rating: 3.6

Official contacts
Location: N/A
Web-resources:   Whitepaper Website
Social networks: N/A
Product source tracking: N/A
Details Description Risks Full analysis Team

Detailed review

Stage of product development
Technical documents (Whitepaper) and the lack of Github tracing

Token description
Pre-ICO date
01.03.2018 - 01.05.2018
ICO date
01.06.2019 - 01.06.2019
Token price
Hard cap
Capitalization of token pool
ERC-20 with the further exchange to EdenChain tokens
Token distribution date
Consensus method
Proof of Elapsed Time, Median Voter Thereom
ICO currencies
Bounty camping
Token functions
Token is a means of payment for services and a reward for nodes and developers
Tokens distribution
Tokensale (40.0%)
Foundation and partners (25.0%)
Team and Advisors (18.0%)
Acceleration program (12.0%)
Bounty (5.0%)

Strategical focus on Korean market may appear to be not rational Tough competition from established dApps platforms and next-gen ones


Higher blockchain speed does not have detailed numerical characteristics No prototype available yet


Edenchain tokens will be available in the 1Q of 2019 only


Overestimated hardcap of 24M USD Overestimated token pool capitalization of 60M USD Team, advisors and partners share of token pool is 43% increasing the risk of token price dramatic impact


Poor team experience in blockchain projects Lack of marketing legal specialists

Full analysis

Developing platform aims to start operation in Korean market that appears to be unattractive as the cryptocurrency market is global and ICO investors are cosmopolitan and live in different countries, and moreover, ICOs prefer global positioning in order to raise as much money as possible. So EdenChain is likely either to limit its potential market or to change its strategy, but today it sounds rather unattractive. In addition, even Korean ICOs are likely to use global platforms to reach as much investors as possible. Document has no detailed competition analysis and it is important for a market player on such a dog-eat-dog market. Ethereum must be noted here as the most popular platform for ICOs but it is losing its authority due to some technical limitations, fees and decentralization woes (the hardfork case and breaking away from Ethereum Classic). EOS, Stellar, NEO, Waves, Cardano, Lisk tend to become more and more popular among ICO projects thanks to new valuable features. Also significant new players are Zilliqa, Seele, dFINITY, Metronome, Pchain and etc. Otherwise market is positive to such projects and they usually raise their hardcaps.


The team calls its product blockchain 3.0, outlining new features in comparison to blockchain 2.0 projects. This blockchain is to be fast but detailed numbers have not been provided yet. The core element of the product is a platform for ICO with Korean market positioning and alpha version being to be available in April 2018 on Github. Mainnet will be launched in 1Q 2019 that appears to be rather realistic. Only technical papers are available that are detailed enough in providing a deep description to the developing project.

Business model

Such blockchains are generally non-profit projects and only those who maintain the system obtain benefit. Consensus algorithm is Proof of Elapsed Time particularly similar to Proof of Work with less electricity consumed. Generally speaking the system is probably decentralized. In order to raise token price some portion of transaction fees will be burnt decreasing the token supply in 2020. This option does not have any technical ground or reason and is probably a way to raise the demand for Edenchain tokens today. For current ICO ERC-20 token will be issued that will be exchanged to Edenchain tokens later. To sum up ICO here is has rational reasons.


The project aim to attract 24M USD that may be considered as much. The same problem takes place regarding token pool capitalization of 60M USD with only 40% for tokensale. Token distribution generally is not fair as the team and advisors share is 28% with partners share of 15% (it is not clear why partners have 15% as their role is not significant). As a result, major token holders with 43% in sum may influence on token price.


The Korean team of 9 member is responsible for this project. They are mature enough and have strong IT background and a few projects released in IT and telecom. CEO has been an executive in a IT company related to cloud services and is an advisor in Korean government technical projects. Blockchain developers are not experience in blockchain but are mature enough: the first one has 18 years’ experience in IT and the second one has 15 years’ experience in IT and telecom. The team has experienced financial and marketing specialists and may be considered as balanced and well assembled but the lack of focused blockchain specialists and legal ones must be noted.

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