Edge Latest articles from the team en 2021 Edge Network Technologies Ltd. All rights reserved. Sat, 12 Jun 2021 06:35:09 +0000 2021-06-12T06:35:09+00:00 en 2021 Edge Network Technologies Ltd. All rights reserved. Edge https://edge.network/assets/img/dadi-logo-colour.png https://edge.network The New Media Platform https://edge.network/knowledge/network/the-new-media-platform Sometimes, in all the noise about the Iinternet’s transformation of the world of publishing and broadcasting, it’s easy to lose sight of the benefits. Amid the disruption caused by the overwhelming (and not always positive) power of social media, many media brands are finding new loyalty and deeper engagement via immersive new digital products.

Social media has its place in marketing content and building audiences, but inside the gates of proprietary websites brands have much more control over user experience. They can develop deeper and more meaningful relationships with users – and if a digital product can provide a premium experience, then the paid content model works.

Premium is about more than editorial. It’s about user experience, from interface design to product performance. This is where Edge Network brings an advantage – and one enjoyed by 70+ media brands already making active use of Edge CDN.

Bauer Media uses our technology to power images and videos across much of its portfolio, from Empire and Grazia to Kiss and Kerrang. Ecohustler – a hybrid media and campaigning website in support of green issues – uses Edge because it is better for the environment.

For Monocle magazine, it’s all about premium: its users saw a 35% increase in performance as a direct result of Edge CDN. This is a major contribution to the luxury experience they have come to expect in both the digital and physical media of the brand.

All these brands are pioneers. They join businesses in ecommerce, high-end fashion, financial services and live events that also use Edge Network. Talk to us about how yours could be next – whichever industry you occupy.

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Thu, 03 Jun 2021 13:30:00 +0000 60b8ab292e0f0a0019de43f7 Will Lebens 2021-06-03T13:30:00+00:00
Weekly Update: W/C 24th May, 2021 https://edge.network/updates/announcements/weekly-update-wc-24th-may-2021 Hi everyone 👋

First up, timelines for $XE. Adam was taken sick earlier this week, which has pushed back preparation for the release of the XE wallet, which was originally planned for today. As Adam is the Blockchain Lead in the core team, we collectively decided to press pause until he is back up to speed.

We think this pushes the opening of the wallet back by around a week, allowing for his recovery and some backfilling.

The good news is that the wallet itself is complete and ready for use.

The team also made some final improvements to the ledger as part of the mainnet release, including improvements to P2P connection recovery, as well as a fix for an issue discovered during the operation of the index service.

The API has received numerous improvements, brought about by integration with the wallet & index service.

The Index service received some fixes for issues identified during integration with the wallet early in the week.

This service will be open to public consumption, allowing you to browse blocks and transactions. Though the API endpoints will be limited at first, more will be introduced over time to help you inspect the chain.

An XE address field was added to Console. This is for use in distribution. The team took the opportunity to improve the performance of Console in a few places as well.

And the CDN refactoring undertaken last week was pushed to mainnet and deployed early this week.

Image

Arthur and I installed hardware for a new Stargate, a second for London.

We’re expecting to have 14 Stargate’s live this year. The Stargates are being placed at the most connected hubs on Earth and will be located in Sao Paulo, LA, Miami, Ashburn, London, Amsterdam, Frankfurt, Prague, Vienna, Bucharest and Madrid.

The overall architecture of services in the network will be changing over the coming months, with Edge Functions taking centre stage. Functions provides a discreet deployment and execution environment for single purpose code blocks. Aligned with Storage, they allow for Edge–native applications to be built and run entirely at the edge of the network.

To give you an indication of what’s possible with Edge Functions, CDN will itself move to the functions layer in time.

We signed an agreement in principle with a new transport partner, which will provide terabit interconnectivity for the Stargate layer in the network, bringing faster resolution times and increased performance to network services.

It was a busy week on the new business front as well, with several new engagements kicked off. While 2020 was an incredibly difficult year for all of us, 2021 is looking much brighter, with businesses getting back up to speed and digital spend increasing.

And finally, episode three of Conversations on the Edge has just been released:

And that’s it for this week. It’s a long weekend here, so expect the core team to be back at the coalface on Tuesday.

For the very latest from Edge, join our Discord server: ed.ge/discord

Enjoy your weekends.

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Fri, 28 May 2021 17:30:00 +0000 60b8a3822e0f0a0019de43f4 Joseph Denne 2021-05-28T17:30:00+00:00
Weekly Update: W/C 17th May, 2021 https://edge.network/updates/announcements/weekly-update-wc-17th-may-2021 Hi everyone 👋

First up, timelines for $XE.

The $XE mainnet goes live on Monday. The wallet will be made available for address generation and claiming distribution a week today. Distribution will run from the 31st May. The bridge will open and trading will start the week of the 14th of June (possibly a week later - final security testing dependent).

Image

We’ve been in high-load testing all week. The platform is looking very stable and our confidence in the dates above is high. We’ll let the community know right away if anything changes on this front.

The team integrated a new logging module improving the resolution of platform logs.

Security improvements were introduced to the P2P connection procedure, which solved some issues with disconnections and subsequent reconnections.

A P2P connection issue was found which in certain circumstances was leading to chain desynchronisation. This has been resolved. A keep-alive procedure was implemented as part of the P2P system alongside this work.

Memo content validation was added to transactions within the ledger.

Work progressed on an indexing Oracle, which will sit on top of the blockchain and provide a searchable index of blocks & transactions. This will be utilised by the wallet as well as the blockchain explorer.

The team also patched an issue with CDN whereby a 404 wasn’t being returned in the event of a missing fallback image. This work also unearthed an issue where a slow request to CDN was blocking all other requests at Host level until the timeout threshold was hit. As part of the resolution context was added to CDN requests enabling them to be cancelled by Host directly.

The CDN MIME type selector was refactored to improve lookup performance.

And additional logging was added to CDN to provide a deeper level of data relating to processing times.

Gateway was updated to prevent a scenario whereby Host remains out of sync when a container crashes.

And work started on a consolidated ‘sync’ key, which acts as an etag for configurations. This is the first step towards a single unified key for the operational state of Host.

The team ran a survey asking about dedicated Edge devices. This has returned some great results so far. There have been a little over 300 responses, With 75.5% of respondents indicating that they would be interested in purchasing a dedicated Edge device.

If you haven’t pitched in yet, now’s the time to do so:

https://ed.ge/device-survey

We also received some great suggestions through the open comments. These included finding dual applications for nodes (i.e. embedding it in other items like a bedside clock or a lamp), making them wall mountable and ensuring payment options that cover a broad array of crypto currencies.

Thank you to those of you who took the time to participate. Any further ideas in this area please do feel free to share.

Chris and I have attended a series of new business meetings and are continuing to push hard on this front. There’s a lot going on and there are many irons in the fire.

A final reminder that the swap closes on the 27th of this month (Thursday, 27th May 2021). If you don’t swap before this date, you won’t be able to claim TNC and will lose the ability to claim $XE.

Earnings for 2020 continue to be processed. If you’ve not had yours yet, sit tight. The network holds complete records and all earnings will be distributed.

And finally, the episode two of Conversations on the Edge was just released:

And that’s it for this week.

For the very latest from Edge, join our Discord server: ed.ge/discord

Enjoy your weekends.

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Fri, 21 May 2021 17:30:00 +0000 60b020c02e0f0a0019de43ef Joseph Denne 2021-05-21T17:30:00+00:00
Weekly Update: W/C 10th May, 2021 https://edge.network/updates/announcements/weekly-update-wc-10th-may-2021 Hi everyone 👋

First up, a reminder that the swap closes on the 27th of this month (Thursday, 27th May 2021). If you don’t swap before this date, you won’t be able to claim TNC and will lose the ability to claim $XE.

We remain in a good place for the distribution of $XE. Specific dates for this will be agreed by the core team early-mid next week, and we’ll publish them to the community. We’re close.

We’ve just released the first episode of Conversations on the Edge. This is the first in a new series of audio shorts discussing Edge Network and how it is poised to help change the Internet.

The latest build of the Edge Ledger moved into staging today, ready for further testing through this weekend. Among the optimisations and fixes introduced are additional metrics for ledger & storage performance, failsafes to protect against rare, momentary underlying storage failures during heavy IO, and the introduction of cryptographic signing of all P2P traffic, which is powered by the $XE wallets belonging to each $XE node.

In addition to these changes, work has progressed on the API, which is built directly into $XE nodes, allowing inspection of blocks, transactions, and the ledger. Plans for the opening up of the API and how we handle rate limiting were completed. We’ll share more about that soon.

There has been continued testing of the blockchain under super heavy load, with positive results. While we don’t expect to be processing 2,000+ transactions/second, we have tested to this level and have demonstrated stability at scale.

The team have removed the private key phrase concept from wallets, and introduced encryption to wallet keys, allowing you to specify a passphrase to unlock your wallet. Work on the wallet is progressing, and it is looking fantastic.

The front end build is due for completion on Tuesday. We can’t wait to show you.

Stargate API requests are now monitored and graphed as part of an increase in transparency of the network services and their activity. Gateway is also monitoring the Device priority leaderboard and we expect to be making this information public later on this summer.

A new Gateway health check has been deployed to test.network. This refactor unifies the health of the RPC connection and the quality of the RPC stream to create a more reliable health status across slower connections.

To reduce the race hazard issue with RPC metadata syncing, Host now uses a buffered channel to force each update to stream in the order they were enqueued.

Chris and I pushed forward discussions about embedding Edge technology into a series of smart devices destined for deployment in London and other cities. This is looking likely to go ahead, with the first deployments expected toward the back end of this year. As soon as we can provide more detail on this front, we will.

There are multiple active customer engagements ongoing. This includes the broadband partner discussed in an earlier update. The team is flat out in delivery. We’ll have loads more to share on this front as we progress.

TNC payouts for stake withdrawals will be being processed soon. They will be done on a node by node basis over the next few months. There will no longer be any vesting on the withdrawals.

Earnings for 2020 continue to be processed. If you’ve not had your yet, sit tight.

Finally, we’d like to understand a little more about your appetite for custom Edge devices.

We’ve been pushing hard in this space, and are considering releasing one or more devices as ready-to-go nodes which could be purchased using $EDGE/$XE or other crypto currencies.

To help guide the future of this side of things, please take a moment to complete this anonymous survey:

ed.ge/device-survey

And that’s it for this week.

For the very latest from Edge, join our Discord server: ed.ge/discord

Enjoy your weekends.

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Fri, 14 May 2021 17:30:00 +0000 60a3d3df2e0f0a0019de43ea Joseph Denne 2021-05-14T17:30:00+00:00
Weekly Update: W/C 03rd May, 2021 https://edge.network/updates/announcements/weekly-update-wc-03rd-may-2021 Hi everyone 👋

Monday was a bank holiday here in the UK, so this week’s update will be a little shorter than usual.

The Edge Community Wiki was released. Designed as the go-to resource for the Edge project, it covers a wide variety of topics, including the vision for the network, the project’s history, community governance, token distribution and node contributions.

You can see it here: https://wiki.edge.network

It also includes a full break out of the core teams weekly updates, of which there have now been 109!

Here’s a link to the full archive: https://wiki.edge.network/getting-started/core-team-updates/weekly-updates

The source for the Wiki is available in the project Github here: https://github.com/edge/wiki

Community contributions to the wiki are welcome and encouraged.

The $XE client side wallet is approaching completion and looking very polished. It will eventually house staking and governance too, moving these functions out of Console. This will also remove the requirement for the email/password based account concept, with everything running off of your private keys.

Here’s another screenshot as a teaser ahead of release:

Image

The iOS and Android mobile wallet remains in heavy development. The timelines for this are further out, and we’ll keep you up to date we go.

Testing on the network ledger continued. An invalid state issue was raised in relation to the P2P service. This has now been resolved.

Several updates for the API for the ledger were made, including the addition of batch transaction processing to support Earnings/Payouts and configurable batch transaction limits.

An issue with the API where large POST requests were being rejected was resolved.

A series of additional metrics were added, providing new data points for performance monitoring & debugging.

And a ledger pruning feature was introduced, removing old wallet data and keeping only the relevant wallet data for a number of blocks.

A major refactor to the configuration process for dApps was deployed this week. The refactor included a fix to the way request cancellations are propagated within the network, and a refining to the method that syncs dApp subscription config status information between Host and Gateway.

Debug logging was greatly improved, creating far more transparency to the Host app deployment process and to the Gateway worker pool prioritisation engine, or LBQ (Load Balanced Queue) as it is more commonly known.

Chris and I started to flesh out plans for an investment programme for third party and community projects built using Edge technology. It’s a little early to go into any real detail yet, but if you have an idea that needs funding, start thinking about how you might pitch it. We’ll be sharing a lot of information on this front in the coming months.

Will wrote an article about the carbon impact of the cloud and the net benefit that Edge brings to the industry.

You can read that here: https://ed.ge/knowledge/cleaning-up-the-cloud

And last but not least, issue 3 of the Edge Digest was sent out. If you’re not subscribed, you should be! You can do so here:

https://edge.press

And you can read the latest issue here:

https://ed.ge/digest/issue-3

And that’s it for this week.

For the very latest from Edge, join our Discord server: https://ed.ge/discord

Enjoy your weekends.

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Fri, 07 May 2021 17:30:00 +0000 609a1fc92e0f0a0019de43e7 Joseph Denne 2021-05-07T17:30:00+00:00
Cleaning Up the Cloud https://edge.network/knowledge/network/cleaning-up-the-cloud A few years ago we wrote about an attempt by Microsoft to make its infrastructure cleaner by sinking it into the ocean (really). The TL;DR is a bunch of servers and a watertight box on the seabed in search of a greener way to keep technology cool than screaming air conditioning.

Even then it seemed like a far-fetched solution – and in likelihood the problem they were really trying to solve was a PR one.

In the time that’s since passed, Edge Network has grown in both clients and contributors, now offering not only a credible alternative to the traditional cloud, but also a more environmentally friendly one – just ask our growing army of customers.

By 2040, digital storage will be responsible for 14% of world emissions. It’s already dirtier than all air travel. The rapid digitisation of our global society brings a challenge we can’t solve by throwing it into the sea.

Edge technology is greener by design. First, it reuses hardware we’ve already spent the Earth’s resources to create – laptops, desktop PCs, mobile phones and set-top boxes can all be leveraged for spare capacity. That means dedicated servers for hosting infrastructure can be a thing of the past, as can the buildings and energy supply they relentlessly demand.

Second, the Edge Network is all around us. This reduces the distance between data storage and data consumption, diminishing the energy required to send it. It is, as we have said before, the network under our noses – rather than the one that makes us choke on its emissions.

So if you want to add digital infrastructure to the list of positive changes your business is making to respect the environment (and to show your customers that green credentials are about more than recycling bins and those trees you planted outside reception) ask us about being a pioneering client of Edge.

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Thu, 06 May 2021 15:30:00 +0000 60940fff2e0f0a0019de43e2 Will Lebens 2021-05-06T15:30:00+00:00
AMA Recap: April 30th, 2021 https://edge.network/knowledge/network/ama-recap-april-30th-2021 Question 1

Will the new Edge token be locked? If so, what is the proportion of locking?

Chris Mair: No. There’s no locking associated with $XE/$Edge. Once it’s opened up it’s open for trading entirely. The exception to this is for device and governance stakes. However, that’s an active participation choice for individuals.

Joseph Denne: It’s important to note that $XE has its own wallet. This is a client-side JavaScript app that interacts directly with the blockchain in the network. Your keys are yours.

Question 2

If I want to buy x USD of Edge services, x USD converts to EDGE and then to XE, right?

Chris Mair: Yes, that’s right. Services purchased in fiat are treasury swapped to Edge and bridged into the network.

Question 3

What are the timelines for token release/withdrawal?

Chris Mair: There are three steps to release:

  1. Distribution (wallet generation and claim request via Console)
  2. $XE distribution (this is an automatic process)
  3. Network bridge opening

Step #1 and #2 we expect to take place within the next few weeks. Step #3 will happen approximately a week after that. Why is there a lag between these steps? Because we want to take a moment to review in-life usage of the transactional layer in the networks chain. The team has spent a lot of time testing, but there’s no substitute for real-world use.

Question 4

What are the DEX and CEX listing timelines and the name of the exchanges?

Chris Mair: We’re opening on Uniswap. The plan is to use this platform for price discovery. From there we’ll evolve the plans that we have relating to additional exchanges accordingly. I can’t be more specific than this at the moment I’m afraid.

Question 5

What are the team’s plans to get the node system running efficiently again, and what do you envisage the APY looking like. (We’re in the height of a bull and it’s not unusual to have 100+% APY so that would be nice.

Joseph Denne: The node system has been working well throughout the transition period. Obviously, we need to get the staking of new nodes operation again as a priority. After the release of $XE this is the core team’s next priority. We’re planning on moving away from Console entirely – dropping the concept of an account for anything related to staking or governance, and instead extended the $XE wallet and running the entire system within the network’s blockchain. The timing for this is being worked on and we should have more information to share soon.

In terms of APY, we are expecting an average yield of around 10% for Hosts (more for Gateways and Stargates), however, this will vary from device to device. Individual nodes are in competition with their peer groups to complete jobs within their immediate network area. I wrote about this in some detail in last week’s core team update, which can read here: https://ed.ge/update/2021/04/19

Arthur plans to be expanding on this soon as well. It’s a really detailed subject and there’s a lot to dig into.

Question 6

What’s going to be different this time around? DADI launched in a bear market and had an uphill battle, but the team seem seemed to never shake the ‘if we build it they will come’ philosophy. How does the team intend to grab the attention of speculators, drawing them in to research the project and hopefully buy into the team’s vision and ultimately invest/start staking?

Joseph Denne: You’re right that with the benefit of hindsight the timing of the initial launch was bad, and there was absolutely an uphill battle with respect to the token value. Again, with the benefit of hindsight, I think that we listed and released the original token too early, which compounded the effect of the bear. I’m not sure that the charge of an attitude of “if we build it they will come” is entirely accurate though. The original plans had a five-year roadmap of development in the context of a booming market. From a technology perspective, we’ve gone far further than this. But efforts relating to marketing within the crypto space didn’t gain much traction, which wasn’t for a lack of trying. A lot of energy and cost was expended on that front, which in hindsight would have been better held back or focused exclusively on business development.

We’ve also had a year+ of a global pandemic to deal with. We all know how challenging that has been. From the company’s perspective, it took a lot of committed business off of the table, including some game-changing engagements that had been many months in the making. We’ve rolled with those punches though, and used the opportunity to further enhance the platform. Of course, no one can predict the future, but hopefully, the bear and the pandemic won’t be followed up with a nuclear war or global famine!

New business for the network is strong, and we’ve reshaped the organization to better address the opportunities around us. It is 100% the case that whilst we have brilliant technological, UX&D and marketing experience in-house, none of the founders are salesmen. We’ve been addressing this and will continue to do so (through hires and through community engagement, including referral programmes.

With regard to the token ecosystem and network scale, the focus is squarely on community building. Hopefully, this should be very visible to you. We’ve moved forward with community governance, placing the tools and token structures in place to evolve Edge into a community-driven project. And we’re pushing hard on community growth, with content-based campaigns and outreach underway. Growth in the community over the last month has been strong, and we expect this trend to continue.

Chris Mair: To follow up on that, I want to be clear that our vision for the project is one of deep community involvement. The proposal and voting mechanics coming online in the summer are meant to provide a direct platform for participation (beyond just staking). The more you guys pitch in the further we’ll go.

Question 7

How far out is direct staking and node running from the cellphone app? This is a killer feature that could really drive adoption. Onboarding a Linux host is too technical for most.

Joseph Denne: We’ve had desktop apps running in beta for a while, and the mobile wrappers are mostly complete. We don’t currently have firm dates for release yet as there are a number of dependencies that need closing out first, but the team is pushing hard on this front. Mobile specifically needs Object Storage complete first, as this is the main service applicable to the mobile environment with regard to the capacity available for use. There are plans to make running a node easier via other avenues as well, which we hope to be able to talk about in the coming weeks and months.

Chris Mair: The mobile wallet for XE has the potential to have a node baked in. We’re looking at this for a later release.

Question 8

Do stakes that have been requested to be returned qualify for $XE distribution and if so, how do we claim the $XE?

Joseph Denne: No. Stakes will be automatically factored into your distribution amount and moved into the new staking contract for $XE.

Question 9

Do we have the listing price sorted for $XE on Uniswap?

Joseph Denne: Yes, we’re pretty settled on this front as part of the launch strategy. We’ll be discussing this a little nearer to the release date.

Question 10

What level of liquidity will be available?

Joseph Denne: There are funds set aside for the provision of a pool on the first listing and there is a plan for support. How this grows beyond this point will be down to community participation in the pool itself (LP staking). I should note that we’re working with a third party to help us better manage this side of things.

Question 11

Any way to skip the $XE part and get clear EDGE tokens?

Chris Mair: You can just buy $EDGE directly from the market.

Joseph Denne: If you held the original $EDGE token and have been through the swap process to TNC, you will need to claim $XE via Edge Console.

Question 12

How is the 31.34% of the staking contract calculated? Is this based on existing stakes?

Joseph Denne: It’s based on a few inputs: 1. existing stakes; 2. backbone infrastructure in the network moving to staking; 3. commitments from individuals and companies to staking; and 4. new nodes in the form of additional Stargates and gateways coming online. The figures are projections and subject to change, but we believe that they are in the ballpark for where they will net out for first distribution.

Question 13

Will it be 50 or 60 million? As 10 million will be for staking rewards so total should be about 60 million market cap.

Joseph Denne: 50 million initial distribution of $XE, with a slowly increasing supply from a reducing pool of locked coins (1 million year #1, 900k year #2 and so on, reducing 10% for the value of the locked pool per annum), with a max cap of 60 million.

Question 14

Why was there a swap in the first place, if we are now getting the $EDGE back as $XE?

Joseph Denne: There’s a lot written about this. If you want to get into the details, you check back over the weekly updates from the core team in the #project-updates channel. Here’s the tl’dr: it’s a partnership with a larger group of projects that was announced on the cusp of the first covid lockdown, designed to provide greater exposure to the project and to help facilitate new business in new markets through what was an extremely difficult macroeconomic environment. There is a group coin, TNC, which is a bonus to the community. The intervening period between then and now has been used to push forward development and to prepare for launching the networks internal token through the exposure of the blockchain at its heart.

Question 15

So, to understand it correctly… if I had 10 Edge, I’ll get 4.5 $XE based on the reduced supply and 10% locked in the growth fund?

Joseph Denne: Yes, that’s correct. You can use this GSheet to calculate your own holdings: https://ed.ge/xe/calculator

Chris Mair: It’s important to note that the growth fund is under the control of community governance.

Question 16

What distribution does the core team have?

Chris Mair: There’s no change on the 2018 crowd sale. At that time 20% of supply was allocated to the founding team with a five year vesting period. Three years of vested tokens have been released, in February 2018, February 2019 and February 2020. The remaining allocation – 8% – has been swapped to $XE and a new vesting schedule has been put in place. This schedule runs over five years, releasing at 20% per year, meaning that a maximum of 1.6% of supply will be made available to the founding team per year.

Question 17

How will the circulating supply on Coin Market Cap be calculated? If it’s only on the available $EDGE, wouldn’t the CMC market cap ranking be much lower than the actual market cap is?

Chris Mair: Good question! There are a few ways that this can be cut, but the bridge itself has a hot wallet that holds the $EDGE transferred in. This is obviously explorable and can be used for the market cap calculation. CMC and the others are pretty flexible on that front.

Question 18

How much of the original ICO funds are left? At what point will you rely solely on the dev funds?

Joseph Denne: We’ve been driving new business throughout and adding to the company’s runway every month. As a result, there is no expectation of relying solely on distributed dev funds in the near-medium term. Chris and I are working on an approach to enable greater exposure to this side of things, consistent with the outlook of the team and the aims of the project. There are huge commercial sensitives here, so it won’t happen overnight.

Question 19

How is the network revenue split up (percentage-wise)?

Joseph Denne: We’re finalizing the details of this, but there will be allocations to the dev fund and the growth fund.

Question 20

What will be the approximate gas costs to bridge between edge and XE and back?

Chris Mair: For the bridge to the Ethereum network the gas costs are tied to the current rates within that network. You will be able to choose your transaction speed, which has a direct impact on the fees. (Slower transactions are cheaper). Today the average gas fees in the Ethernet network are 49 gwei: ~$2.80.

Question 21

Can the network bridge contract work on Ethereum L2 (e.g. with Polygon) as well, to avoid gas costs and enable trading on L2 exchanges such as Quickswap?

Joseph Denne: Yes, this is technically possible, although there are no plans for it at the moment. What we’d like to see is open discussion around where we focus efforts in relation to the bridge, and perhaps some community proposals to enable broad participation in the debate.

Question 22

Is the individual node yield based on its hosting performance?

Joseph Denne: This is a simple question that’s pretty complex to answer. It’s based on a node score that is generated by the Gateway the Host is connected to on the basis of a moving window of completed jobs. Individual jobs have an individual capacity impact, and the Hosts are in competition with each under a single Gateway. So the answer is really yes and no – more performant nodes will in most scenarios deliver more jobs, leading to a higher node score, but it’s not as simple as that. However, it is absolutely the case that yields are based on the number of jobs a node delivers.

Question 23

In the past years we have seen that Edge was mostly getting some adoption in its home market (UK), are there plans for how this can be scaled to a global level?

Chris Mair: This is definitely the case in terms of business, and is a direct result of the geography of the core team. It’s not really the case for node spread, however, as we have points of presence in 100+ countries. And it’s definitely not the case for the community, who come from 202 countries. How we grow business internationally is a great question though. Our focus right now in terms of direct sales is on our home market. We have plans for how we broaden this out, and a target list of territories to address. There are significant cost implications here as well, which will have to be addressed. So it’s a question of timing.

Question 24:

What’s the team doing to help users with tokens stuck on exchanges?

Chris Mair: Unfortunately, there isn’t much that we can do here as it is impossible to provide absolute proof of holdings from these environments. However, we have reached out to KuCoin and have asked for a list of holders in this situation. If they can provide this, then we can work to resolve the situation through a matched distribution of $XE. We’ve not heard back from them yet. But we’ll continue to press and will let you know as and when there is any movement.

Question 25

When storage & when edge compute sirs?

Joseph Denne: There’s a big update to our roadmaps coming! Arthur is leading this with input from across the core team. So stay tuned.

Question 26

What’s the total, max and initial circulating supply for the new EDGE token?

Chris Mair: This will most likely be based on the bridge wallet, which holds $EDGE matched to the max supply of $XE. That would mean 60 million day #1 for the total and initial circulating supply.

Joseph Denne: It’s important to add that the bridge wallet is under the control of the bridge contract. So, while the figure within the contract matches the max supply of $XE, obviously the release schedule of $XE from the network runs over a long period of time.

Question 27

What’s the status on the payments for devices that have continued their support during past year by keeping their nodes up.

Joseph Denne: These are being worked through and will be made up to date soon. I’m expecting this to be closed out by the end of May. Hopefully sooner.

Question 28

Is there a timeline for Storage and have you thought about collaborating with an existing network like Storj (who even does revenue sharing with partners). The engineering challenge seems a bit far off EDGE’s core tech, isn’t it?

Joseph Denne: Yes, we have internal timelines and we’ll be exposing some of those with the next roadmap update. Collaboration in this space has been considered, however, it’s such a core component of the network and our model is so different technologically – focused on edge and embedded devices – that it doesn’t really make sense. It would introduce friction into the network, ultimately slowing it down for short-term gain. It would limit what we could achieve with the service as well.

And no, it’s entirely in our wheelhouse. We have an alpha live. And I believe that when you see it you’ll understand the benefits of being core tech rather than a clone or partnership of an existing solution. (All of which are lacking from my perspective).

Question 29

Previously you have said that EDGE financial runway is infinite suggesting EDGE’s operates cashflow positive. Is this still the case and what are the growth targets for coming years in terms of team size? Any ambition to go after a Series A funding round?

Chris Mair: Edge remains cash flow positive, and we’re adding to our runway month in month out. The focus is two-fold: growth and service extension. I can’t really talk about targets here, but we have hired this year and will be hiring again throughout the rest of the year.

Joseph Denne: I’m not sure we’d see a Series A as an ambition, but the question of follow-on funding is open as we grow and look to other markets. There would have to be a very clear case for it, and of course, timing in relation to growth is very important.

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Sat, 01 May 2021 16:00:00 +0000 608d794f2e0f0a0019de43da Bolaji Oyewole 2021-05-01T16:00:00+00:00
Weekly Update: W/C 26th April, 2021 https://edge.network/updates/announcements/weekly-update-wc-26th-april-2021 Hi everyone 👋

It’s been a big week for updates, with tokenomics and plans for the distribution of $XE released.

Chris Mair wrote about the tokenomics of the network, breaking out the mechanics within each layer and explaining how they work both to aid network security, and to incentivise network growth.

You can read this here: https://ed.ge/knowledge/tokenomics-overview

We also wrote about the distribution of $XE.

You can read this here: https://ed.ge/knowledge/xe-distribution

Chris and I also held an AMA on Thursday evening, focused on the coming release of XE. It was a meaty session, with great contributions from the community.

You can access a full transcript here: https://ed.ge/ama/2021/04/30

One of the things I love so much about this project is just how distributed the community is. There are members in 203 countries, with new members joining every day.

Here’s a great visualisation of where we all are:

Image

The team made some changes to the Edge Logger to enhance the readability and depth of information available for debugging.

An investigation into the performance of the update process when a configuration change is made has led to the roadmapping of a staggered propagation for updates. This will be coupled with a per-device performance grade freeze to avoid unnecessarily downgrading a devices performance during an update window.

And investigation into a rare issue with slow reconnections after a Gateway deployment continued, and is expected to conclude early next week.

Heavy load and security testing on the Edge Ledger continued, with a series of performance improvements brought to bear as a result of the data tracked.

Some big improvements were made to ledger storage, vastly improving performance during the mining cycle. This was done after a bottleneck was identified during testing.

A transaction Generator service was built and deployed to feed transactions into the network. This is now being used on testnet to scale out testing.

Arthur Mingard wrote an article on network security.

You can read this here: https://ed.ge/knowledge/hidden-in-plain-sight

And I wrote an article on TCO of network services.

You can read this here: https://ed.ge/knowledge/the-network-that-works-for-you

The Edge Community Wiki will be released on the 04th of May.

And finally, TNC released the interest for the month of staking to holders wallets. You should be able to see this in your wallets. It’s fully unlocked and usable right away.

Note that next week is a short week as we have the May bank holiday on Monday. With luck it will be sunny☀️

And that’s it for this week.

For the very latest from Edge, join our Discord server: https://ed.ge/discord

Enjoy your weekends.

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Fri, 30 Apr 2021 17:30:00 +0000 6090f44c2e0f0a0019de43dd Joseph Denne 2021-04-30T17:30:00+00:00
The Network That Works for You https://edge.network/knowledge/network/the-network-that-works-for-you How much did it cost to send you this web page? Every time you so much as move on the Internet, someone profits from your action – and in almost half of all cases that will be Google, Amazon or Microsoft.

Edge Network is designed to share revenue from digital infrastructure services. It does this by allowing everyone to contribute – using everyday devices in the home or office – and to get paid for the server space they provide.

But this technology doesn’t only benefit the individual. It’s good for businesses too – companies with buildings the world over filled with machines that lay idle overnight and at weekends, each with Edge potential.

Think about that for a moment.

Every one of the desktop PCs at your office could be a revenue earner. Each could contribute to the very network that powers your digital products, bringing an offset against your hosting bill and improving your bottom line.

By placing the internet all around us, Edge is also more efficient. It costs less to send and receive those web pages, assets or files simply because they don’t have to travel as far. That makes Edge less expensive still than the big three providers – by our calculation up to 90% cheaper overall.

Contact us for a conversation about how Edge can bring real cost savings to your business. We are onboarding pioneering clients now, each following in the footsteps of global media companies and ecommerce brands already using our technology.

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Thu, 29 Apr 2021 19:30:00 +0000 608aef4c2e0f0a0019de43d9 Joseph Denne 2021-04-29T19:30:00+00:00
$XE Distribution https://edge.network/knowledge/network/xe-distribution Yesterday the core team shared the tokenomics of the Edge Network, looking at how $XE and $EDGE work within the Edge ecosystem.

Today I’m happy to be able to share details about the distribution plans for $XE.

A total of 50 million $XE will be minted and distributed. In addition to this, 10 million $XE are locked in the network to be mined and released as node rewards.

Holders of the original $EDGE token who have been through the swap process to TNC in Edge Console will be able to claim a distribution of $XE. This distribution is proportional to their original holdings, factoring the reduction in supply.

In addition, 10% of all holders funds will be held back to create the Growth Fund, which is controlled through network governance.

Distribution

The Dev Fund holds $XE assigned to support the day-to-day development of the network. The Growth Fund holds $XE assigned to support the marketing and growth in uptake of the Edge Network. The Staking Contract holds $XE locked in the network as governance and node stakes. The Community distribution is the $XE held by individual supporters and customers of the Edge Network.

The figures below are projected initial distribution percentages for $XE:

Distribution Percentage Allocation
Dev Fund 15.64%
Growth Fund 10.25%
Staking Contract 31.54%
Community Circulating 34.57%
Founding Team 8%

Dev Fund

The Dev Fund holds $XE assigned to support the technological development of the Edge Network.

The use of these funds is under the control of the core team, with guidance regarding focus provided through project governance.

The dev fund is designed to be used for core development. This includes developer remuneration, hardware and software costs, securing IP rights and any other directly associated overheads.

The dev fund is funded by a buy back and make programme, with network revenues converted to $XE and transferred to the fund. The initial distribution to the dev fund represents the swapped original $EDGE token holdings of the network treasury.

Growth Fund

The Growth Fund holds $XE assigned to support the marketing and growth in uptake of the Edge Network.

The use of these funds is under the control of project governance, meaning that community members can raise proposals for its use, and vote on proposals raised.

The growth fund is designed to be used for activities outside of core development. This includes exchange listings, marketing, third party integrations, partnerships and community engagement.

The growth fund is initially funded through a dilution applied to all holdings of the original $EDGE token. A buy back and make programme assigns a percent of network revenues to the growth fund. In addition to this, a percent of the gas fees from the network bridge are put into the growth fund.

The Growth Fund is controlled through network governance.

Staking Contract

The Staking Contract holds $XE that has been locked in the network for participation in governance or for the contribution of a network node.

Individual node stakes are locked for a minimum period of 90 days.

Individuals who want to withdraw ahead of the lock period will be able to do so for a fee (amount TBC). This fee will be put into the growth fund.

Founding Team

The founding team allocation at crowdsale in 2018 was 20%. This was vested over five years. Three years of vested tokens have been released, in February 2018, February 2019 and February 2020.

The remaining allocation – 8% – has been swapped to $XE and a new vesting schedule has been put in place. This schedule runs over five years, releasing at 20% per year, meaning that a maximum of 1.6% of supply will be made available to the founding team per year.

The three original founders of Edge hold the largest portion of this distribution at 2.15% each.

The $XE wallet addresses used for vesting – including the individual wallets of the founders – will be broken out and published, inline with Edge’s commitment to transparency.

Node Rewards

$XE has a minable supply of 10 million coins, with a steady emissions curve tied to block time. Mined coins provide the yield for the network and are released as node rewards.

The maximum yield in year one is 1 million $XE (10%). This will be reduced in year two, further in year three and so on.

The following table shows expected emitted $XE for the next five years:

Year Emitted $XE Supply Increase
2021/22 1,000,000 2.00%
2022/23 900,000 1.76%
2023/24 810,000 1.56%
2024/25 729,000 1.38%
2025/26 656,100 1.23%

Individual $XE Distribution Calculator

‌You can see a spreadsheet that can be used to calculate the $XE that you will be able claim here: ed.ge/xe/calculator

To use this sheet:

  1. Create a copy of the sheet
  2. Update cell B2 with the number of $EDGE tokens that you swapped through Edge Console
  3. Cell B10 will show the number of $XE available for you to claim

In Conclusion

The distribution of $XE reflects the holdings of the original $EDGE token; there is a small dilution designed to further community involvement; the overall supply has been reduced; and the network now emits node rewards.

All of the wallet addresses relating to project holdings and controlled by the project will be published.

Timings for the distribution to be opened remain to be confirmed, and are dictated by the variable timelines of security testing. We expect to see this complete in the coming weeks, with distribution opening up thereafter.

Chris & I will also be holding an AMA this Thursday in our Discord channel. Please get your questions into BJay and Rick ahead of time and we’ll endeavour to get them all answered in the season.

We’re all extremely excited for the future of the Edge platform. The underlying technology is rock solid, and the exposure of the network’s ledger as a method value storage and transfer brings an entirely new dimension to the project. Involving the community directly in the allocation of funds through the growth fund is a big milestone, and we’re excited to see how the governance framework will be used to further Edge.

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Wed, 28 Apr 2021 16:30:00 +0000 60898c742e0f0a0019de43d4 Joseph Denne 2021-04-28T16:30:00+00:00
Tokenomics Overview https://edge.network/knowledge/network/tokenomics-overview As most in the Edge community will know, the tokenomics of the platform have been in review for some time, driven by the high development pace around the network’s own blockchain, and the evolution of that portion of the platform into a store of value for edge computing capacity, enabling the fast and free attribution of value for resource.

We’re moving quickly towards the release of the platform and the issuance and distribution of the network’s own coin, $XE. In anticipation of this I want to take a moment to outline the tokenomics of the platform.

There are two methods of value exchange in the Edge Network, $XE, which is internal to the network, and $EDGE, which is on the public Ethereum network.

$XE is a layer 2 solution designed for fast transactions mapped to resource usage. It is bridged into the Ethereum network on a 1:1 basis with the $EDGE token.

Transactions within the Edge Network are free for staking wallets. Non-staking wallets are charged a small fee to help to maintain the security of the chain. Bridging $XE in/out of the network to $EDGE in the Ethereum network carries a variable gas fee.

For transactions out of Edge Network, this fee is taken in $XE. Individuals can choose their target gas fees and the bridge will automatically transmit their transaction to meet the target set. This acts to help to keep transaction fees as low as possible.

For transactions into the Edge Network, the gas fee is taken in $ETH.

As a network native coin, $XE does not count towards the circulating supply of $EDGE. Therefore service usage, staking, governance and fees all act to reduce the circulating supply of $EDGE by locking value in the network itself.

Edge is a community driven platform – contributors to the network are the network in a very real sense. As such, any future changes relating to network tokenomics will be run through project governance.

Network Funds

There are three main funds controlled by the network.

The Dev Fund holds $XE assigned to support the day-to-day development of the network. The Growth Fund holds $XE assigned to support the marketing and growth in uptake of the Edge Network. The Staking Contract holds $XE locked in the network as governance and node stakes.

The Growth Fund is controlled through project governance.

$EDGE

‌$EDGE is a tradable utility token on the Ethereum network (ERC-20). It is the entry point to the Edge ecosystem and can be used for the purchasing of Edge services.

$EDGE tokens can be bridged into the Edge network and converted to $XE using the Edge Bridge. The relationship between $EDGE and $XE is 1:1, meaning that for every 1 $EDGE bridged into the network, you will receive 1 $XE.

When services are purchased in $EDGE, the $EDGE is automatically bridged into the network, reducing circulating supply.

Service Purchase

‌Services in the Edge Network can be purchased with $EDGE. They are also available for purchase within the Visa and MasterCard networks. Enterprises wishing to be invoiced directly can do so by reaching out on: sales@edge.network

Purchases made in $EDGE are automatically bridged in to Edge Network and swapped for $XE.

Purchases made in fiat (Visa/MasterCard) or in other cryptocurrencies are swapped for $EDGE before being bridged into Edge Network, converting them to $XE.

Liquidity Mining

An $EDGE liquidity pool will be available on Uniswap, initially funded by the network treasury.

Uniswap applies a 0.30% fee for every trade that takes place on their platform and automatically sends this to a liquidity reserve. Whenever a liquidity provider decides they want to exit the $EDGE pool, they will receive a portion of the total fees from the reserve relative to their staked amount in $EDGE the pool.

In addition to this, a 0.30% fee is applied to all $XE transactions moving through the network bridge. This amount is automatically deducted from the sent amount and is collected in an $XE vault wallet (address to be supplied publically). These funds are periodically bridged out of the network and redistributed as LP rewards to those providing liquidity for $EDGE on Uniswap.

$XE

$XE is a layer 2 solution designed for fast transactions mapped to resource usage. It is bridged into the Ethereum network on a 1:1 basis with the $EDGE token, meaning that for every 1 $XE bridged out of the Edge Network, you will receive 1 $EDGE.

$XE is used for the purchasing of Edge services, for staking, network governance, and for node rewards.

Transactions

Transactions within the Edge Network are free for staking wallets. Non-staking wallets are charged a small fee to help to maintain the security of the chain (mitigating against flood attacks). These fees are assigned equally to the dev fund and to the growth fund.

‌Service Purchase

Services purchased using $XE directly attract a service discount of 10%, designed to reward the holding and use of $XE.

Node Staking

Edge is a Proof of Stake network. Contributing a node to the network requires a POS in $XE. Stakes are locked in the network for a minimum period of time and for the duration of the node being online.

Nodes that are found to be bad actors will have their stake penalised or removed. Stakes reclaimed by the network in this manner are burned (sent to a zero address in the XE chain).

Network Governance

Participation in network governance requires a stake locked in the network in $XE. This can be a stake used for the contribution of a node or an unassigned stake used purely for governance participation.

Fees tied to the raising of proposals in the governance mechanism are put into the growth fund.

Buy Back and Make

A buy back and make programme assigns network revenue to the dev fund and to the growth fund. In addition to this, a percent of the gas fees from the network bridge are put into the growth fund.

In Conclusion

The tokenomics of the network are designed to incentivise network growth and to help to secure the network. The 1:1 relationship between $XE and $Edge acts to lock value in the network by taking bridged $EDGE out of circulating supply. $XE itself provides for fast and free transactions tied to staking and yield payments within the network.

In a follow up post later this week we’ll be sharing the issuance and distribution model for $XE and $EDGE.

Joseph & I will also be holding an AMA this Thursday evening (17:00 UK time) in our Discord channel. Please get your questions into BJay and Rick ahead of time and we’ll endeavour to get them all answered in the season.

We’re very excited for the future of the Edge platform, and can’t wait to share more of the core team’s future development plans with you. There’s a lot more to come.

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Tue, 27 Apr 2021 16:00:00 +0000 6087ca1f2e0f0a0019de43cf Chris Mair 2021-04-27T16:00:00+00:00
Hidden in Plain Sight https://edge.network/knowledge/network/hidden-in-plain-sight Here’s a thought. Is your data any more secure in the traditional cloud because it is locked up miles away on massive servers in fortress factories? Spoiler alert: no. It just makes access to that data slower and more expensive.

The reason Edge is poised to revolutionise the way we host our digital services is that it is more ‘cloud-like’ than traditional cloud infrastructure. It is all around us. It places the data we consume onto the very same connected devices we use to access it.

This reduces the distance it needs to travel, thereby increasing speed and reducing cost.

But close by doesn’t mean within easy reach. Just as locked factory doors don’t help server farms, locked (or even unlocked) front doors don’t make a jot of difference to data security on the Edge Network.

No single file is stored on any single device and each file is encrypted and broken into hundreds of parts, which are then seeded across devices in the network. This means that even if you knew what you were looking for, you would have to break into hundreds of homes and offices, pickpocket thousands of mobile phones from the streets then attempt to retrieve and stitch together fragments of data from your haul of individual devices.

In other words, impossible. It’s why, with confidence, we are happy to add ‘more secure’ to phrases like ‘faster’ and ‘greener’ when describing Edge Network.

If you’d like to describe your digital products in those terms – while also adding ‘less expensive’ to the mix – contact us for more details. For more information on security and Edge Network, here’s a deeper dive.

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Sat, 24 Apr 2021 13:30:00 +0000 60849afc2e0f0a0019de43c2 Arthur Mingard 2021-04-24T13:30:00+00:00