Interview with the Edgeless Team

It has been pretty quiet around this project after its Huge ICO in 2017, so I got together with them and wanted to find out was has happened behind the scenes in all these times. And the result has been impressive!

6 min readAug 6, 2019

A lot of time passed since you successfully launched your ICO in March 2017. What interesting things have happened inside the Edgeless project? What stages did you achieve from the road map? Please tell us about your progress so far.

More or less we’ve finished almost the whole road map, what is pretty impressive and rare in the crypto industry. Therefore, right now, we are working to make our product even better, introduce new features and attract a new base of customers.

Though, what was achieved in this period? We’ve launched the casino platform and introduced 8 unique games, what is extremely rare in the industry for operator to have unique games. We’ve started generating real revenues and introduced staking, platform, where community members helps for our bankroll. Also, we got the license for our platform, what made us the first legally compliant casino in the crypto industry.

But you can see all of our achievements one by one in our company page — https://www.edgelessgroup.io/

Who are your competitors and what are your advantages or distinctive features? How many solutions do you think can coexist side by side?

There are competitors in the industry, for sure, but most of us have very different projects and ideas behind it. However, one of the key of our distinctive features are definitely staking, what can’t be found among non of our competitors and unique games, since it is a common practice to buy casino games from providers, we have a very strong USP by creating our own games with exclusive features that nobody in the industry has.

How will Edgeless solve the controversial topic of scaling?

Since we were one of the firsts to use state channels on Ethereum network, we have solved the problem to some extent. Right now, we do not experience any problems with the scalability.

Which important functions are still not implemented for Edgeless, and will we ever see a final form, or is it per definition a work in progress with constant improvements?

Most betting platforms provide ‘single-player’ gaming experience which is usually ‘white-label’ solution from other developers. Since we are a gaming platform creating our own content, there is a lot of room for innovation. In the upcoming quarter, we will roll out more platform features which engage players on ‘multiplayer’ level. Right now we are experimenting with various tournament formats. It showed a lot of attractions from our players community.

These ‘multiplayer’ features help to build a stronger community from existing player base. And we observed that community in crypto-related projects is one of the essential elements leading to project success.

Now that the crypto space is around for a while, a lot of things become clearer, in these times it also becomes more clear what is an open-source science project and what is a revenue-generating business.

How is the Edgeless revenue so far and how is the funding situation?

I would not label Edgeless as a pure blockchain / crypto project / open source. We are in the business of gaming. Edgeless use blockchain / cryptocurrency technology to make gaming services even better.

Current revenue is coming from players on Edgeless platform. Edgeless sells entertainment value. More players we have, more revenue we get. In our case business model is really straight-forward.

One of the biggest setbacks after the 2017 Bull run were regulations. How is Edgeless regulated and how hard was it to achieve a license?

Correct. I would say even today regulations make a huge impact for most of the crypto projects. Problem is that most regulators are afraid / confused / low-IT background entities. Their decision-making towards blockchain related businesses are incredibly slow.

In the end of the day we get all the services we needed (license, banking, etc.. ) however process is way slower than it should be.

I would not expect to change it much, it’s just a thing we need to deal with.

What is your stance on governance, how should decisions be made and how much should token holders be able to decide?

Since we are not open-source / blockchain back-end infrastructure project, there is no governance mechanisms. As mentioned before, Edgeless is a gaming company utilizing blockchain technology to improve the quality of the service. Token is a tool to access Edgeless services.

However, Edgeless always take into consideration token holder feedback really seriously. Token community helps to shape a product to better direction and help us to provide a service which market needs.

This leads us to the EDG token, what’s the use case, why should investors hold it? What are the benefits?

EDG is utility token. Not a company share. Token doesn’t provide voting rights and participation in governance.

Right now there are 2 utilities of the token:

EDG token grants access to Edgeless casino services. If people want to play on Edgeless platform, they need to have a token.
Bankroll staking. People can stake EDG tokens in Edgeless casino bankroll for a reward — mechanism is similar to ‘proof of stake’ in other blockchain projects.

Please explain the Edgeless staking in detail.

To make sure the casino bankroll is always increasing, the platform needs a mechanism which enables the community to support the growth of the bankroll. There is a limited amount of EDG tokens, a total of 132,046,997. It’s impossible to create new tokens or delete existing ones.

With larger bankroll, the casino can serve more players and offer larger betting limits.

Without such a mechanism, Edgeless would not be able to serve players. Edgeless community members can stake EDG tokens, forming a decentralized casino bankroll. Edgeless network distributed 40% of the bankroll surplus in exchange for bankroll support.

The Staking process is also very easy, since user goes through this flow:

Sign up to the platform https://staking.edgelessgroup.io/
Deposit EDG tokens you can do this with other tokens as well such as ETH, BTC, LTC, etc.
Stake to the round.

Synopsis

Edgeless one of the prime ICOs launching in full bull market and riding the waves down with us all during the 2018 crypto depression.

Many projects failed, or perished during these times, it has certainly been quiet around EDG but after this interview I am very excited.

They created a full fledged revenue generating business, no fancy WP only promises or earth distant theories, but a gaming casino based on blockchain.

A very good token use with staking and betting functions, and they won't stop there. Working on multiplayer and sports betting are exciting things to come.