Secure Your Digital Currencies With Eidoo
For any cryptocurrency investor or trader, the need to secure your crypto cash is the number one priority. And like the traditional banks we have, the blockchain technology can also be susceptible to security breaches especially on the part of the users. As a result of this, there are calls for better digital wallets to safeguard investments. However, the blockchain technology is not short of innovations, and there exist several platforms to assists users with the much-needed security.
Eidoo is a Switzerland-based venture that provides a multi-cryptocurrency wallet and ER20 tokens with a unique backup passphrase. The platform's launch was back in August 2017 with the initial origins as a standard Ethereum and ERC20 token wallet.
Under the program, users get to receive, send and save tokens. And fast forward to today, Eidoo is planning to start out an ICO exchange for the exchange of tokens. With such unique features, Eidoo stands out from some of the wallets that currently exist in the crypt scene.
Basics Of Eidoo
With the platform acting as a hybrid exchange, two development teams work together to meet this vision. The Bitcoin group works on the Eidoo Bitcoin wallet that manages generic assets on the Bitcoin Blockchain. With the incorporation of the light network method, Eidoo offers a much faster and cheaper way for users on the Bitcoin exchange.
The Ethereum side is in charge of creating an Ethereum light client for the verification of all user key chains. The key chains are the tool to validate the transfer of information received by other users on the network. This makes it possible for users to send or receive tokens irrespective of the Ethereum address. As a result, services on Eidoo are much faster since there is no need to validate or download the entire blockchain for a transaction.
Should I Join?
For any crypto enthusiast, it is open that most wallets only accommodate purchasing coins and not selling. Eidoo is a wallet that allows you to store, purchase, and transfer or sell your digital assets. Furthermore, the portfolio will enable you to pay for goods or services in cryptocurrency without the need for any intermediary. The Eidoo token (EDO) is the mode of currency to pay for costs and fees inside the Eidoo app.
Another plus for Eidoo is its accessibility. The development team behind Eidoo took the liberty to create both the Android and IOS app versions for the digital wallet. Now, users in the mobile world can easily download the app from their respective store and access their crypto cash anywhere, anytime.
On the other hand, a unique feature of Eidoo is its Hierarchical Deterministic wallet app. While it might sound confusing, this feature allows the user to have full control of the transactions. In no capacity whatsoever does the Eidoo platform store or interfere with your data.
Eidoo ICO Engine Conclusion
Your digital wallet is an essential tool in your blockchain investments. And this is an item; you should go lengths to protect. Eidoo's features seem like a viable solution for a more secure and convenient digital wallet.
It has simplified crypto markets while also building interaction between the blockchain and its users. As a result, the future for Eidoo seems brighter than we anticipate. Its pioneering efforts are something you should not overlook.