Eidoo is a multi-currency wallet with a hybrid exchange built in. Find out how it works today in our Eidoo review.
What Is Eidoo?
Eidoo, found online at Eidoo.io, describes itself as “a blockchain asset experience”. In reality, it’s a multi-currency wallet with some nifty added features – like hierarchical deterministic support and a full-fledged cryptocurrency exchange.
The wallet is available online for free from the iOS app store or from the Google Play Store for Android.
Overall, Eidoo aims to make it easier for users to manage their blockchain-based digital assets. Right now, the wallet focuses on Ethereum and ERC20 tokens. However, in the future, the company plans to add bitcoin support (the bitcoin wallet is scheduled to launch in Q1 2018).
Eidoo is preparing for its token sale. You can participate in the token sale through the Eidoo app. The token sale is scheduled to take place between October 4 and October 16, 2017.
Eidoo is headquartered in Switzerland, and the company (Eidoo SAGL) is incorporated under the laws of Switzerland.
Here are some of the features available on the Eidoo app:
- Store Ethereum and ERC20 Tokens: Most Ethereum wallets also store ERC20 tokens. After all, they’re based on the same blockchain. Eidoo supports Ethereum and ERC20 tokens. You can send and receive digital currencies through the wallet app.
- Private Keys Managed By the User: The user in in charge of managing the private keys. The private keys are encrypted on your smartphone. They’re not held by Eidoo.
- HD Support: Eidoo supports hierarchical deterministic structures, which means you can create sub-wallets to keep your main wallet address private.
- Backups: Your Eidoo funds are secured with a single backup passphrase.
- Easy Management: Eidoo makes it easy to send and receive digital currencies, read QR codes, and share your address with friends.
- Contact Lists: Eidoo can store the Ethereum addresses of your contacts in a single, standardized way.
- Token Recognition: Eidoo automatically detects all tokens supported by the Ethereum blockchain. Some of the tokens will pop up with their name and logo. If Eidoo doesn’t recognize a particular ERC20 token, then the token will still be available through your wallet – but details about the token may be listed as “unknown”.
- Ethereum Transaction History: Eidoo shows a list of all transactions you’ve made in Ether or various ERC20 tokens.
- The Eidoo Exchange: Eidoo has a built-in, decentralized exchange. It’s a hybrid exchange where you can cross-trade between ETH and ERC20 assets with a “technologically consistent atomic outcome” (atomic swaps). Eidoo emphasizes low fees.
Overall, Eidooaims to be the easiest way to manage your assets on the blockchain.
Who’s Behind Eidoo?
Eidoo is led by CEO Thomas Bertani, CTO and Co-Founder Marco Polci, COO Andrea Benetton, and Founder Natale Ferrara.
The official name of the company is Eidoo Sagl. The company is based in Chiasso, Switzerland. It was founded in 2017.
In terms of a road map, Eidoo released its Ethereum and ERC20 token wallet in August 2017. The token sale is taking place throughout September. Half of the exchange is scheduled for completion by the end of 2017, while the bitcoin wallet is scheduled for release in Q1 2018, with a DApp module coming in Q1 2018 as well.
Edioo Sagl is split into two teams – including the Ethereum wallet team and the bitcoin wallet team. The Ethereum and bitcoin wallets are expected to be separate apps (again, the Ethereum wallet is available today, while the bitcoin wallet will be available by Q1 2018).
The Eidoo Token Sale
The Eidoo token sale is scheduled for October 4 to October 16, 2017. The company will release EDO tokens. You can purchase tokens and participate in the ICO directly through the Eidoo app.
It’s nice to see that Eidoo has a fully functioning wallet that’s available to the public prior to the token sale. In many cases, companies launch an ambitious token sale with no MVP in place.
During the ICO 20 million EDO tokens will go on sale at $2.30 USD per token. Eidoo is accepting ETH in exchange for EDO Tokens. EDO tokens will be immediately distributed to each token holder, and token holders are free to transfer these tokens at the end of the ICO period.
There will be a total supply of 100 million EDO tokens
Eidoo is a multi-currency, HD wallet made by a Switzerland-based team of developers. The wallet launched in August 2017 as a standard Ethereum and ERC20 token wallet. You can use the wallet to send, receive, and store tokens. Or, you can exchange tokens within the app to help manage your investments.