What Is Edgeware (EDG)?

Billed as the "best place to work in crypto," Edgeware is a platform that provides a hub for creatives, builders and crypto enthusiasts looking to build next-generation decentralized applications on its Substrate-based blockchain. Edgeware provides a blockchain platform developers can use to easily build and deploy next-generation decentralized applications (DApps), which benefit from high speeds, low latency, and a highly efficient consensus mechanism. This is further bolstered by a community-governed treasury, which users can use to request funding for their developments.

Beyond this, the platform provides the infrastructure communities can use to coordinate themselves into working groups and other organizational structures, which can then concentrate their efforts on the task at hand. This helps to maximize efficiency and resource usage.

The EDG token is a core pillar of the Edgeware ecosystem and is used for a variety of purposes. These include gas for regular and smart-contract-associated transactions, participating in governance decisions, staking, and funding the growth of the Edgeware network.

In development since 2018, the Edgeware platform is being built by Commonwealth Labs — a firm that builds decentralized infrastructure products and next-generation governance protocols. The initiative is also supported by Parity Technologies, the development firm behind the Substrate platform.

Edgeware is a proof-of-stake smart contract blockchain developed by Commonwealth Labs that was created as an experiment in cryptocurrency community building and on-chain governance. Edgeware was built using Parity's Substrate library and intends to integrate with Polkadot as a parachain after Polkadot's main net launch. Edgeware introduced a novel token distribution mechanism called a lockdrop- a modified version of an airdrop that requires participants to send ETH (or other cryptocurrency) to a personalized timelocked contract in order to receive an EDG allocation. Edgeware contains mechanisms for community members to establish on-chain identities, as well as vote on changes to the protocol and allocate communal treasury funds.