The head of the Edgewater buffer floats, then the rings, or friction springs, retard the rearward movement. There are similar friction rings for Browning designs like the A5.
I have yet to put my hands on an Edgewater, but I became aware of them when I was a kid reading about the upgrades to the AR15 from the original Colt 601's & 602's, to the XM16E1 program.
The buffer is probably the biggest change to the operating system that got over-looked by the lay person, since the malfunction assist forward device was the obvious external change.
The next obvious change was the birdcage flash suppressor once they finalized all the fixes on the Colt 603 / M16A1. One of the most mentioned internal changes was chrome lining for the chamber and bore.
I have learned more about this design by diving into the Retro sub-forum, as well as stuffing different calibers into the AR15. Just when I thought I knew most of what there was to know about this weapon, volumes of information manifested themselves to me, and there is a ton more to digest than most people would ever think.