The Third Web #15 – Edgeware & Parity, Infrastructure on Top of Infrastructure

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Joined by Dillon Chen of Commonwealth Labs

What is Edgeware
Edgeware being developed by an entity called Commonwealth Labs
Built on Parity’s Substrate
Grandpa finality tool
Onchain governance
Scripting built in.
Using Web Assembly (Wasm)

Building on Substrate
People used to build their own web servers, now they use the cloud.
People used to build new chains, now they can use Substrate.
This enables builders to focus on the area of their expertise.
One month after development began a test net was operational
Three months the project was live.
EOS was too centralised
Ethereum was not flexible enough

Being able to use Rust or C++ is great
Still being experimented with

The Polkadot and Substrate ecosystem
Friendly and helpful community
20 projects underway
100 planned for the end of the year
Platform still stabilizing
People are building now planning to switch to the security of the Polkadot chain.

Securing the edgeware chain
Delegated PoS aiming to move to Nominated PoS as Sybil resistance mechanism
Grandpa for finality
Round Robin leader selection
Ultimate goal is to rely on the security of Polkadot

The problem of governance
It’s a problem that has been pursued by humanity for all time
Blockchains increase social scalability
Improves legiobility
Enables new organisations
These new organisations need new governance systems
Blockchains are new so there is naturally experimentation and opportunity.
Want to further this human endeavour in the blockchain world

How does edgeware actually do governance?
Allocate tokens using a “Lock Drop” of ether.
One token one vote.
Vote can be allocated
Focusing on core changes to the network/protocol, allocation of on-chain treasury that is bootstrapped by the block reward.

The Lock Drop
Initial token distribution is the linchpin of effective network governance
Require the belief in the economic value of the token
Previous ways of doing this were an ICO or airdropping a token
The Livepeer Merkle Mine was an interesting experiment
Edgeware hopes to get the same effect of distributing tokens to people who want to actively participate without the bloat of a Merkle Mine.
Ether tokens are locked in a contract that prevents the tokens from moving for a period of 3, 6, or 12 months. The registry of locked tokens is used to initiate the Edgeware chain with additional tokens allocated to individuals who locked their tokens up for longer periods.

Infrastructure on top of infrastructure
Are we locked in an infrastructure phase?

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