eDeposite

eDeposite is running on a hybrid blockchain system. This is a combination of both private and public blockchain systems, The network participants can only join after the existing participant approve their application. Before any transaction can be processed, it requires a multi-signature¹³, there must be a consensus among all nodes. It must have been validated by all active nodes & declared true T. Once a transaction enters the system, the request is instantly redistributed to all the active nodes for validation. These nodes are to declare the transaction True T. or False F., by declaring a transaction True, a signature is appended on the transaction, if all nodes declare a transaction to be True (T), the transaction is processed and recorded on each node’s explorer and also on the public ledger. In a situation a transaction is declared False F. by a single node the transaction will remain pending till the next hour and revalidated by all the nodes, if the same transaction is declared F again by the same node, the transaction will be re-postponed till the next hour, this transaction will keep getting postponed till another node declare it F or all the nodes declares it T. If up to 25% of all the live node declares it false, the transaction is automatically canceled and recorded on a separate ledger for fraud investigation. For every transaction, all nodes will verify the origin of the sender’s balance from his last 10 transactions, this is to check the legitimacy of the sender’s balance before allowing it to proceed.