Strategical focus on Korean market may appear to be not rational Tough competition from established dApps platforms and next-gen ones. 

The team calls its product blockchain 3.0, outlining new features in comparison to blockchain 2.0 projects. This blockchain is to be fast but detailed numbers have not been provided yet. The core element of the product is a platform for ICO with Korean market positioning and alpha version being to be available in April 2018 on Github. Mainnet will be launched in 1Q 2019 that appears to be rather realistic. Only technical papers are available that are detailed enough in providing a deep description to the developing project.

Such blockchains are generally non-profit projects and only those who maintain the system obtain benefit. Consensus algorithm is Proof of Elapsed Time particularly similar to Proof of Work with less electricity consumed. Generally speaking the system is probably decentralized. In order to raise token price some portion of transaction fees will be burnt decreasing the token supply in 2020. This option does not have any technical ground or reason and is probably a way to raise the demand for Edenchain tokens today. For current ICO ERC-20 token will be issued that will be exchanged to Edenchain tokens later. To sum up ICO here is has rational reasons. The project aim to attract 24M USD that may be considered as much. The same problem takes place regarding token pool capitalization of 60M USD with only 40% for tokensale. Token distribution generally is not fair as the team and advisors share is 28% with partners share of 15% (it is not clear why partners have 15% as their role is not significant). As a result, major token holders with 43% in sum may influence on token price.

Poor team experience in blockchain projects Lack of marketing legal specialists

7-Mar. I’m not tied, I’m not participating in this, that doesn’t mean I wouldn’t get in, eventually I could get in ,maybe post ICO. Anyway, guys, I’ll be passing on this for now, but keeping an eye on this later, once it’s on exchanges. I mean my recommendation to them, actually, well, I haven’t told them this yet, but I think they would be better off if they waited to launch a test net before having the ICO. In my opinion, this is really a research project trying to raise money to do more research, which I’m not in the business of doing right.
24-Apr. I don't have any plans to touch Edenchain. I wish the team best of luck, but no plans at the moment, I mean they weren't ready with a prototype. I passed on an Edenchain for Quarkchain. Quarkchain already has a test net, a demo they could show me, so to me that was a much better investment from my perspective.
2-May. The Edenchain team showed me a demo of their new MVP a few days ago. The new MVP demo impressed me, and as a result their score has been updated due to now having a tangible prototype. Edenchain now scores at 85% for me personally, and is officially an all-star ICO in my opinion. I will be hosting a live AMA with the team next week.
10-May. QuarkChain, Edenchain, Phantasma and Mainframe those are my four all-star projects for this month.

6-Apr. Korean blockchain Project with good hard cap. Looks good so far.

Edenchain is a Korean ICO that wants to create a full blockchain that uses Internet of Things with an emphasis on peer to peer finance and loans.
The CEO is M Jung Ho and he has industry experience in machine learning and cloud computing and appears to have connections to the Korean government, overall I thought the project had a very solid team I gave them 70 out of 100.
The token economics, I thought were excellent, they were only asking for 24 million dollars. (70 out 100).
It has been not enough awareness in the market so I gave them 30 to 40 out of 100 for the hype, but this is definitely something to watch.
Now when it comes to the negatives, it is the same criticism really as Yggdrash, they don’t have
any prototype and the main net for Edenchain isn’t going to be released until q1 of 2019.
ICO won’t begin till q4 of the end of this year 2018 so I do actually think the token economics are going to be changing.

Mar-10. Sergei: Edenchain is interesting project, however Ian Balina was disappointed with the fact that they haven’t presented prototype yet. Project is worth watching.
Apr-11. Key: EdenChain I like. It is like DragonChain for Korea. But they do not have anything. (MVP)
Apr-24. Sergey: Edenchain, I don`t like the project. Our team is communicating with them. The project has appeared unexpectedly. We always look if a project has the partnerships with well-known funds and Edenchain has not such connections. There is vesting period for pre-sale participants which I don`t like.
3-May. Ivan: Initially there were red flags about the project. But then Ian Balina shilled it.
Bruce: They have shown him a prototype and he announced that the project is an all-star.
Bruce: I like how tokens are distributed. I don`t think that price will dump.
30-May. Alexey: I passed on it because of the lock-up period. 
Andrey: I invested a small amount. Link

7-Mar. I have it 75 . (Matty downgraded it because beta will launch in a year)
03-May. Up. They were a 79. Had them for a no for tech and supporting cast. But apparently their two blockchain devs worked at SK Telecom a publically traded company. The mistake was made due to poorly crafted linked in profiles. The one had his resume in his description bio and the other onlylisted Eden Partners.

2-May. Korean project. Team looks good. With MVP launch in April 2018. Roadmap looks convincing. Long term project looks good.

Edenchain is not a unique project, but very ambitious and competes with such projects as EOS and ICON. Seeing the results of these two projects, we have the right to expect similar development of Edenchain. A significant hype, ambitious roadmap, the first released MVP, a solid professional team, and positive market expectation make up our confidence that the project has more than bright future.
A really diversified blockchain-based platform for enterprises offering decisions for a number of current blockchain issues. The project is not unique, but there’s a strong market demand for such products.

We would like to note the following strengths of Edenchain project:

• Ambitious and complex idea

• Strong technical whitepaper

• Significant IT/software experience of the team

• Circa 80% of hardcap has been reached during presale rounds

• Potentially strong competitive position and market exposure

• Notable token economic potential

However, we draw attention to the following significant risks associated with this ICO:

- High competition in the market raises significant risks for Edenchain. Edenchains aims to cover various different markets (IoT, shared economy, tokenization, ICOs, finance) which means that they compete directly with projects like Ethereum, EOS, Stellar and ICON which are either released already or will be released shortly in 2018.

- Absence of MVP.

- Unclear ICO details which cannot be verified as of the date of the analysis.The team is not transparent on its website and in the project’s whitepaper on some important ICO terms.

- Whitepaper is comprehensive on technical details, but needs more elaboration on the business side.