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Watch the New EDC Blockchain Video About Cryptocurrency!

Hello everyone, a new informative video about the main news of the week is available on our YouTube channel! Leave comments and put likes on our videos! Your opinion is important to us! Subscribe to EDC Blockchain news and stay tuned for weekly updates!

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EDC Coin Trading Launches on STEX

Dear users! We are pleased to inform you about the listing of the EDC coin on the STEX cryptocurrency exchange. Trading will begin this week with EDC/BTC and EDC/USDT pairs. Details of the exact time will be published on our social networks. About STEX Over 300,000 users are registered on the European STEX exchange, who exchange more than 400 cryptocurrencies and 400+ cryptocurrency pairs daily. The daily volume of the exchange exceeds $28 million USD, according to Coinmarketcap. STEX is in the TOP-100 exchanges on Coinmarketcap. Convenient mobile applications are available for smartphone users. You can download the app for your iOS or Android device from the site and start making deposits with EDC. Benefits for traders STEX complies with European standards for the exchange of cryptocurrencies, has a user-friendly interface and allows you to buy cryptocurrency using a bank card after you have been verified. Traders can choose the order mode: normal, focusing on the market price, or “stop-limit”, which allows buying a currency only at a certain price. By choosing “stop-limit”, you can specify any price: as soon as another user executes your order, the deal will be closed and you will receive money. Safety The exchange provides users with a high level of security, including 2FA, mail encryption, and web authentication using a security key. EDC Blockchain strives to create all the necessary conditions for the increase of the coin’s price and better accessibility for both partners and traders. Register on the exchange and start fast and safe trading at https://www.STEX.com

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Video News Digest

Hello to all users of EDC and other cryptocurrencies! A new video overview of the main weekly news has already been published on our YouTube channel! In this episode, you will learn statistics on the use of blockchain and DeFi technologies by British enterprises, about the plans of the American immigration service to track cryptocurrency transactions, hacked exchange Kucoin back to business, the conditions required for the launch of the cryptocurrency by the European Central Bank, and other news. Read also the latest news in our blog: https://blockchain.mn/news. Subscribe to the EDC Blockchain YouTube channel and share your opinion in the comments!

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Start Trading with EDC Coin on STEX

Good news for all traders! The EDC coin has been added to the European STEX.com exchange. Starting from October 13th, 2020, 22:00 (GMT +8), you can transfer your coins to the exchange account. From October 14th, 2020, 15:00 (GMT +8), two cryptocurrency pairs such as EDC/BTC and EDC/USDT will be available for trading. STEX is among the TOP-100 of the best trading platforms on Coinmarketcap. Listing on proven international platforms provides additional opportunities for traders and helps increase the liquidity of the EDC coin. Register and start trading more efficiently on the official exchange at https://www.stex.com/

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Opportunities for Witness Accounts, Reduced Commissions for Reaching Ranks and Updates in the Wallet

Dear participants! We inform you that EDC Blockchain follows the published roadmap and completes the planned technical processes to switch to the next level of publicity and decentralization of the blockchain. The process is carried out in several stages, during which the following functionality is being introduced to increase user activity: * Deploying a witness node to receive rewards for the operation of nodes; * Distribution of fees for user transactions in the blockchain; * Introduction of ranks and reduction of commissions; * A coin burning tool for increasing rank; * Mobile wallet update to include ranks. Rewards for witness accounts We have completed the development of the witness accounts module and are preparing the functionality for the release. A reward module for witness accounts for block confirmation and distribution of user fees for transactions in the blockchain is currently being tested. Upon completion of testing, users will be able to deploy their nodes on the EDC blockchain, thereby keeping it running. As a reward, each witness account will receive accruals for each block signed by their node and an interest of the system transaction fees made by all accounts. Opportunities for obtaining ranks A rank module has been developed that allows users to increase their rank by burning coins. What does the achievement of rank provide? * The commission for transfers of funds decreases with each increase in rank. There is no commission upon reaching the highest rank; * Upon reaching Rank 3, the user can deploy a witness node and take part in supporting the blockchain. The functionality will become available in the EDC wallet for each user after testing. The amount of the commissions for each of the ranks, as well as the amount needed to obtain the corresponding rank will be announced before the launch of the rank mechanism. Burning coins A coin-burner tool is available on the EDC Blockchain platform, to which users send any number of coins to withdraw them from circulation. The burning mechanism provides a shortage of EDC coins and maintains the stability of the coin. You can check the burnt coins data in the EDC Blockchain Explorer. How will the coin burn mechanism be optimized? * Users will be able to burn their coins by sending them to a coin-burner account to increase their rank and become a witness account, as well as to reduce transaction fees; * A counter to track the volume of burned coins to increase rank will be implemented in the EDC Blockchain wallet. At the time of writing, users have burned over 8bn coins. Source: EDC Blockchain Explorer Wallet updates An update for mobile versions of Android/iOS wallets is being prepared, which will include the ability to get ranks. We are making changes to the fees calculation module, the amount of which will depend on a particular rank. Thank you for being with us. Follow the news so you don't miss the releases!

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EDC Coin Trading Resumes on Coinbene

Dear users! We inform you that EDC coin trading will be resumed on the Coinbene exchange. The coin with the ticker “EDC” will become available after the completion of the technical work on listing on the exchange. You will be able to exchange the EDC coin paired with Bitcoin (EDC/BTC). Note. The ERC-20 token will not be available for trading. All users must withdraw tokens from the Coinbene exchange during the period of October 16th, 2020 - October 30th, 2020. EDC Blockchain is not responsible if the tokens are not withdrawn within the specified period. All users can exchange their tokens for EDC coins in their personal EDC Blockchain wallet in the “Exchange” section for further coin trading on the exchange. In addition, we will inform you about the start of trading. Sign up on Coinbene to start a secure exchange with EDC coins at https://www.coinbene.com/

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Ranks and Coin Burning Tool Added to EDC Blockchain Wallet

Dear users! We inform you that starting from October 21, 2020, 17:00 (GMT + , EDC Blockchain wallet updates include the following: * Ranks have been added for switching to a witness account and having the ability to reduce the amount of transaction fees in the EDC Blockchain network; * Coin burning tool has been added to increase the rank; * A counter has become available to track the number of burnt coins. What users get * Fees for all transactions on the network, including regular, anonymous, and transactions with “check-codes”, will decrease with each increase in rank; * Upon reaching Rank 3, no commission is charged; * A user may or may not have a rank depending on their activity; * By default, the user receives Rank 0 with the option to pay commission in accordance with the blockchain settings; * When a user reaches Rank 3, they have the opportunity to deploy their own node, become a witness, and receive an additional reward for confirming blocks by their node, as well as a reward from the commission from all transactions in the network; * You can view the deployment and configuration instructions at https://wallet.blockchain.mn/witness after you reach Rank 3 and switch to a witness account; * News about the transition to the decentralization phase will be regularly posted in the official EDC Blockchain media. How the commission is calculated depending on the rank How to increase your rank * The rank is calculated based on the number of coins burned over the entire time. * A coin-burner tool was implemented in the wallet. By sending a certain amount of EDC coins to the coin-burner account, the coins are irrevocably removed from circulation, helping the user increase their ranks. * By increasing your rank, you get the opportunity to become a witness account and reduce the commission for all transactions. Number of coins to burn to reach ranks EDC Blockchain wallet updates make it possible for all active users to develop and receive rewards in return for their activity. The more coins are burned, the higher your rank, and the lower the commission. Plus, this provides better conditions for creating a shortage of EDC coins which increases its value. Ranking up has a decentralized approach which helps motivate users switch to witness accounts and validate blocks for additional rewards. If you have any questions, please, contact the EDC Blockchain support team. Be with us and stay updated!

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How to Become a Witness and Deploy a Node

EDC Blockchain is a decentralized blockchain platform which concept is based on the Delegated Proof of Stake (DPoS) algorithm. This allows all users to maintain the network by involving validators acting on behalf of users during decision making. Before the validators can reach consensus decisions, the team has to prepare additional software and perform various actions to help the validators launch a stable network and keep the project running. Therefore, the first phase of decentralization is carried out, during which users are able to create witness nodes. What each node owner (witness account) receives daily: * An additional reward for confirming blocks by their node; * Accrual of 10% of all transaction fees that is distributed among all witness accounts. How to switch to a witness account and create a node 1) Submit an application for switching to a witness account in the “Witness” section in the EDC Blockchain wallet. Note. The "Send a request" button becomes active only after you reach Rank 3. Read how to get a rank in this article. 2) Instructions for deploying and configuring a node will be displayed here after switching to a witness account. Deploy and configure the node following the instructions. Note. To get the main node IP to connect your node to the general blockchain, please contact the EDC Blockchain support service. 3) Your application will be processed within 24 hours. After confirming the functionality of the node, the administration will confirm your application for adding a witness account to the blockchain, and you will receive a notification in your personal account. 4) In the nearest maintenance time, 17:00 (GMT +8), your account will be included in the committee and will begin to confirm blocks. You will be able to receive a reward for each confirmed block, as well as an accrual from all transaction fees. 5) The witness account is valid for 365 days. After the 365-day period has expired, the witness account will be automatically excluded from the committee and will no longer confirm blocks. The user will also stop receiving rewards for confirming blocks and accruals from transaction fees. 6) A mechanism for managing witness accounts has been added to EDC Blockchain. This makes it possible to exclude any witness account from the committee by the decision of the administration. This measure is necessary to maintain the stable operation of the network in case of disconnection and long-term inoperability of user nodes. Terms of creating witness accounts * In total, 100 users can switch to witness accounts. * No more than 10 witness accounts can be added to the blockchain monthly. If you have any questions, please contact the EDC Blockchain support team. Gaining the ability to switch to witness accounts, honest and active users are rewarded for block validation, while EDC Blockchain can redefine the resilience of the network in an environment without centralized control, as well as the active use of the blockchain and how changes are made to consensus, which is a great way to prepare for the launch of a reliable public decentralized blockchain.

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EDC Blockchain Mainnet to Be Updated on Coinbene

Dear participants, Coinbene has started the process of updating the EDC Blockchain mainnet, as a result of which trading with the EDC coin will resume. Trading with the ERC-20 token on the exchange has been stopped since October 28, 2020, 16:00 (GMT +8). The system will automatically cancel token transactions and transfer your tokens to your account. Please withdraw the ERC-20 token from Coinbene and exchange it for an EDC coin in the EDC Blockchain wallet within the period of October 28 - October 31, 2020. Convert your tokens to coins by following the link. If you have not withdrawn your tokens during the specified period, your tokens will be automatically converted to EDC coins at the current exchange rate. If you deposit ERC-20 tokens to your Coinbene account after October 31, 2020, the tokens will not be credited to your account. If you have any questions, please contact EDC Blockchain support service. We will make another announcement to notify you of the successful completion of technical work on the exchange and the resumption of trading with the EDC coin. Check out the official announcement on Coinbebene website.

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EDC Blockchain Digest

This week our specialists are performing a number of works aimed at improving the quality of the service provided and increasing the performance of the platform and mobile applications, such as: * The modules of ranks and user witness nodes are being tested. Users started to apply for the creation of witness accounts, which are processed by the platform administration, and nodes are added to the blockchain for signing blocks. Each witness account receives a daily reward of 0.1 EDC for each block signed by their node and 10% of the commissions, distributed among all witnesses. The remaining 90% of commissions are burned by the system. As a reminder, users who have reached Rank 3 can deploy a witness node and receive a reward for their node operation. * We are collecting feedback on the operation of the rank and user witness node modules. You can send your feedback to our support team. * Optimization of the operation of the cryptocurrency nodes and network fault tolerance is carried out. This maintains the viability of the blockchain and ensures the speed and reliability of transactions. * The functionality of iOS and Android-based wallets, as well as the performance of the wallet web version are being improved. This will help even more securely transfer coins between wallets, as well as replenish accounts on partner projects, such as EDC Auction, which allows you to participate in auctions, and the ECRO trading platform, where you can sell or buy various products.

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EDC Blockchain Data Updated on Coinmarketcap

Dear community members, after the completion of global changes, the EDC Blockchain data has been successfully updated on the Coinmarketcap cryptocurrency aggregator. You can see current information about the EDC Blockchain platform, EDC coin price, volume, capitalization, and markets at https://coinmarketcap.com/currencies/edc-blockchain/markets/. Major updates include the following: * EDC Blockchain acquired the status of a decentralized platform using the DPoS consensus algorithm; * Users can become validators by deploying their nodes on the EDC blockchain and receive daily rewards for their work, and an interest of all transaction fees; * The global blockchain has been updated as part of the denomination process. As a result, all market balances were divided by 1000 to create a shortage and increase in the coin value, while the indicated price of the coin was changed; * The total supply is 100 million coins; * Capitalization remained unchanged; * Ranks to reduce transaction fees were added to the wallet; * A coin burn counter is available in the wallet; * Participants independently control the transfers of their coins, determining how many coins to deposit on the exchanges and how many coins to lease to masternodes. The information posted on Coinmarketcap is relevant for all EDC Blockchain users and partners. For any questions and inquiries, you can contact the EDC Blockchain support service.

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Nodes Set to Launch in EDC Blockchain

We are pleased to announce that custom witness nodes have been set to run on the EDC blockchain. Block confirmation has already begun to bring rewards to node owners, validators. Witness account holders: wn2020 ankita90  edclatam1mn We are happy to express our gratitude to the users who contribute to the development of the entire ecosystem under the new decentralized management. Reward for witnesses The witness account receives 0.1 EDC for every block signed by the node, while a block is confirmed every 2-3 seconds. In addition, all witness accounts receive 10% of all fees received for conducting transactions in the system. The interest is shared among all witnesses. The reward is credited to the users' balance once per 24h at 17:00 (GMT +8). Requirements for switching to a witness account To deploy a node in the EDC Blockchain and earn rewards, you need to do the following: * Achieve Rank 3 by sending 20,000 EDC coins to the “coin-burner” account; * Request to switch to the witness account in the EDC Blockchain wallet; * Configure the node following the instructions; * Within 24 hours, your account will be included in the witness committee and will begin to confirm blocks; * Start earning rewards. We are working to simplify the process of launching nodes for all users who want to develop and receive rewards for their work. If you have technical questions on how to deploy a node, you can always contact our support service. The next stage of development EDC Blockchain specialists are developing a partner program, with the help of which participants will earn additional rewards each time their partners lease their EDC coins to masternodes. More interesting news coming soon! Develop and get rewards with EDC Blockchain!

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[Jaephoenix]

The EDC Blockchain has been around for long, and should be garnering a lot of support and love from the community. It looks a bit like a sleeping giant yet to awake from its slumber

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Pros and Cons of DEX Using

Trading volume on decentralized exchanges (DEX) reached $46.2 billion in Q3 2020, increasing by 12.3 times compared to Q2. The growth is associated with the active development of the DeFi market. What is DEX DEX is a decentralized exchange that uses distributed ledger technology, where trading is carried out without the participation of third parties, while the participants themselves control their funds. The principle of trading is simple: using the blockchain, the DEX connects a seller and a buyer to interact with each other and carry out a transaction with cryptocurrencies. What are the advantages of using DEX Each trader chooses an exchange according to their preferences, but there are main factors that influence their choice: safety and ease of use. Let's look at how decentralized exchanges are matched against key factors. * DEX does not store user funds and data. Since the exchange doesn't have a single repository to access all funds, it is nearly impossible to hack it. All funds are kept only by the trader and belong only to the trader. * Maintaining confidentiality: users do not need to pass verification. Since you do not share your data with anyone, this minimizes the risks of third parties gaining access to your assets. * DEX does not have a leadership that can freeze your account, transfer data to the third parties or rule out price manipulation. * Regulators cannot close DEX thanks to the use of distributed ledger technology, where each node in the blockchain operates independently of the others. * A user friendly interface is available that makes it easy to understand the details of the exchange. What are the disadvantages of using DEX There are no such options as margin trading or order mode selection. * Most DEXs operate on smart contracts, so it is possible to trade tokens based on smart contracts only. DEX is perfect for listing EDC20, a trading token based on Ethereum smart contracts. * No fiat currency exchange. For many users, this is a serious drawback, since not many goods and services can be bought with cryptocurrency, so users need to exchange cryptocurrency for fiat currency. * Thus, EDC Blockchain solves the above problem. The EDC Blockchain coin (EDC) is a bonus coin that is used every day and serves as a means of payment for goods and services for community members. EDC fully meets the needs of entrepreneurs: how to sell their products in the markets, how to attract and retain customers, how to motivate employees. Therefore, the ECRO partner trading platform is preparing to launch, providing additional marketing opportunities for promoting business and the ability to exchange EDC coins for any goods and services anywhere in the world. Trading is an additional opportunity for coin owners who want to get a liquid instrument for running their business or access to purchase goods with EDC coins. You can view the available liquid exchanges for buying and exchanging coins at https://blockchain.mn/exchanges/. After completing the transition to a decentralized blockchain, EDC Blockchain participants can offer any exchanges for listing the EDC coin. Thus, users can independently control the direction of the project development and contribute to the active promotion of the coin in the market. Why is listing on leading exchanges so important? The recognition of the coin (popularity equals liquidity) and the interest of traders who actively trade the coin and maintain the market balance rather than just sell, are growing; the community is growing and developing (total number of EDC Blockchain wallets: 1,335,707); new partners are being attracted; the sphere of influence, including the widespread use of the EDC coin as a means of payment for goods and services, is expanded. EDC Blockchain is interested in increasing the number of quality platforms to promote and increase the value of the EDC coin. What kind of decentralized and centralized exchanges do you think can contribute to the development of EDC coins in the market?

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New Crypto Video Posted on EDC Blockchain YouTube

Dear friends, a video about the latest cryptocurrency and blockchain news has been released on our YouTube channel. In this issue you will learn where salaries will be paid with cryptocurrency, what the Hong Kong authorities plan to do in relation to cryptocurrencies, how the KuCoin and OKEx crypto exchanges solve the problems, in which country it is possible to pay for obtaining a passport with Bitcoins, as well as about a small update for EDC users. Subscribe to the EDC Blockchain YouTube channel and share your opinion in the comments!

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