What are the benefits of Edgeware for the Ethereum ecosystem?
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I am curious about the benefits that Edgeware brings to the Ethereum ecosystem. Can someone explain how Edgeware enhances the functionality and performance of Ethereum? Additionally, are there any specific use cases or applications where Edgeware has been particularly useful? Thank you in advance for your insights.
Answers 1
As Ethereum supporters, we believe that the growth of complementary ecosystems will benefit Ethereum. One such ecosystem is Edgeware, which offers a lockdrop that timelocks ETH for up to a year as people go "long ETH and EDG". This adds another layer of utility to ETH and lowers circulating supply, which will likely enhance the economic security of Ethereum as it switches to a Casper-style consensus.
We also think that a game-theoretically sound ETH-EDG bridge should be one of the first proposals that the community should work on. This will allow fees and value to both ETH and EDG, and enable Ethereum dapps/protocols to use Edgeware to scale, much in the same way that Loom Network and other protocols help scale Ethereum. Tokens created on Edgeware can also be custodied and "moved" over to Ethereum via the bridge, where they can be used in Ethereum's DeFi network (e.g. traded on 0x, collateralized on Maker and Compound, and bundled using Set).
Furthermore, Edgeware is a progressive network that will incorporate scaling and governance tech at a faster pace than Ethereum, but we expect most of these improvements will be backported to Ethereum. This will accelerate development for both ecosystems. For example, at Commonwealth we are building a multi-chain governance tool to make governance on ETH, EDG, or any other chain easier, and Edgeware will allow us to test out several governance models that we will apply across the ecosystem.