About

Edgeware is a smart contract platform for building decentralized applications (dApps) that intends to eventually operate within the Polkadot ecosystem. It, therefore, uses various components of Polkadot's underlying framework, called Parity Substrate, that supports Edgeware's more functional components. In its current state, Edgeware operates as a standalone blockchain network, featuring a Nominated Proof-of-Stake (PoS) consensus mechanism, an on-chain governance system, and a native token, EDG, that owners can use to pay transaction fees, vote on upgrade proposals, and participate in consensus.

History

Founding and Vision Edgeware was the first proposed project to come out of blockchain development outfit Commonwealth Labs. Its founders saw an opportunity to create a network purpose-built for formal governance. Most existing blockchains in 2017-2018 opted for coin-voting models or plutocratic delegated Proof-of-Stake (DPoS) systems instead of "true on-chain governance." Commonwealth Labs, therefore, designed Edgeware to include a native voting system featuring an identity system tied to GitHub accounts, a staged proposal system that supports multiple voting mechanisms, and an on-chain treasury funded by block rewards.

Lockdrop Token Distribution Commonwealth Labs used a novel strategy called a lockdrop to distribute its native token, EDG, to prospective network participants. This lockdrop required ETH holders to lockup (I.e., deposit funds into a time-locked contract) their ETH for a given period to receive new EDG tokens. Edgware's lockdrop didn't require a direct investment, lowering the barrier for participation. Commonwealth Labs also opted to hand out 90% of EDG's initial supply via the lockdrop to help broaden the distribution of token ownership, which the team believed to be an essential component for bootstrapping a new governance system. While this token distribution method did not bring in any outside capital, Commonwealth Labs previously raised $2 million from 1confirmation, Canaan Partners and former Polychain partner Ryan Zurrer to fund Edgeware's lockdrop and early development.

Built on Parity Substrate Edgeware uses Parity Substrate (developed by Parity Technologies) as the base framework in its stack. Substrate provides some of the infrastructural components necessary for a blockchain, such as peer-to-peer networking and support for block validation. It allows Edgeware to extend its functionality through the creation of modules. These modules are how Edgeware can execute smart contracts, decentralized applications, and governance elements deployed to the network. As a substrate-based chain, Edgeware will be eligible to join the Polkadot ecosystem as a parachain and bring smart contract functionality to Polkadot once it launches support for parachains. Parity Technologies received 3% of the initial EDG supply for its assistance with Edgeware's development.

Mainnet Launch and Future Development Following a problematic soft launch in Sep. 2019, Edgeware launch as an independent chain in Feb. 2020. In its early stages, the network will feature a minimalistic on-chain governance system. But Commonwealth Labs anticipates its features will grow to include more complex voting systems and decentralized autonomous organization (DAO) creation over time. While Commonwealth Labs led the pre-launch development of Edgeware, the company intends to step back and act as a participant in Edgeware's on-chain governance system. Future upgrades will depend on code changes proposed and approved by governance participants.