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What Is Edgecoin (EDGT)?

Edgecoin (EDGT) is a cryptocurrency issued by a UK-based company called Edgecoin Bank. Apparently, Edgecoin Bank is a decentralized crypto bank that provides a modern take on traditional finance by offering a fast and simple payment gateway to its users. Customers can deposit their Edgecoins into digital wallets via this system. The company claims that EDGT is a stablecoin that reflects the value of the US dollar. To achieve this, the token's peg to the USD is obtained by maintaining a sum of commercial paper, fiat deposits, cash, reserve repo notes, and treasury bills in reserves that is equal in USD value to the number of EDGT in circulation. According to its whitepaper, Edgecoin Bank is helping customers in over 120 countries manage their crypto assets and aims to become the leader in global payments by providing a range of services such as money transfers and settlement solutions powered by its fiat-backed stablecoin, Edgecoin (EDGT).

Who Are the Founders of Edgecoin?

As per information provided by Crunchbase, Edgecoin's founder and CEO is Luke Arliss.

What Makes Edgecoin Unique?

Edgecoin's whitepaper outlines their innovative solution to the problems associated with unregulated and non-fiat-backed stablecoins. By combining the advantages of traditional financial systems with those of the internet, Edgecoin offers a digital asset with strong infrastructure, regulatory oversight, and currency stability. To maintain a stable peg to the US dollar, EDGT tokens are backed by a variety of reserves including commercial paper, fiat deposits, cash, reserve repo notes, and treasury bills. This ensures that the total value of reserves always matches the circulating volume of EDGT tokens. In addition to being able to use EDGT for transactions, users can also earn Gradecoin, a DeFi coin that rewards those who hold EDGT tokens in their wallets.

How Is the Edgecoin Network Secured?

EDGT tokens are secured using the Stellar Consensus Protocol, which has four key features: decentralized control, low latency, flexible trust, and asymptotic security. With SCP, anyone can participate in achieving consensus, and no one entity can hold a majority of decision-making power. Transactions are also confirmed quickly and inexpensively, and measures are in place to prevent malicious actors from accessing the network.

Edgecoin Price Prediction

Based on predictions for Edgecoin's future value, it is expected to see a significant increase of 244.35% and potentially reach a price of $3.53 by the end of 2025. The current technical indicators suggest a bullish sentiment, although the Fear Greed Index is currently reading at 15.68, indicating a state of extreme fear.