Ethos Bedrock Launches As A Blockchain For Connecting Financial Institutions
Ethos Unveils Bedrock, A Revolutionary Platform: The Missing Link Between Financial Institutions And The Blockchain
A Singapore-based cryptocurrency services provider is launching a revolutionary platform that would connect the financial institutions to that with the blockchain.
Ethos.io is proud to announce that it would be unveiling Ethos Bedrock, a high-performance sophisticated Blockchain Financial Services (BFS) platform. This platform was born out of the vision of creating an easy and accessible blockchain as well as cryptographic protocols, similar to that of the Internet protocols. With the use of Bedrock, the institutions can now leverage battle-tested, state-of-the-art digital asset technology securely and safely and, laying the foundational work for cryptofinancial services. These services include, but are not limited to, lending, brokerage, liquidity, and custody.
“Nearly every fintech firm views blockchain as the next paradigm shift for digital finance, but the wide array of blockchain and crypto protocols and frameworks have long been complex and inaccessible – until today,”
Says Ethos founder and CEO Shingo Lavine. “Bedrock provides the infrastructure for a whole new wave of revolutionary blockchain-based products and services that will power the digital economy of the future.”
This new platform features structures that allow the involved institutions to come up with their own crypto wallets together with their liquidity and custody services. This will also provide custom solutions involved in creating and handling blockchain integration, identity, alerts, and, most of all, transaction monitoring.
As a background, the Universal Wallet is Ethos's very own product. In fact, it is their flagship product. It now is running via the Bedrock APIs, making it its first reference application. What does all this mean? It means that Bedrock is up and running, not a theoretical infrastructure. In fact, as of present, it is already supporting over 90,000 users across the globe and has completed at least 400,000 transactions seamlessly.
What makes Bedrock stand out is that it makes use of peer-reviewed standards, including BIP32, BIP39, and BIP44. These are the standards that allow institutions and/or their customers to be able to safe-keep their digital assets via Ethos’ SmartKey technology. It also has a so-called abstraction layer capable of supporting multiple blockchains and custom digital assets.
Furthermore, Bedrock is being operated by the ETHOS token, making it able to provide utility and access within the Ethos ecosystem. Those who wish to use Bedrock in their businesses may also utilize and stake the Ethos token so that they can do any of the following: unlock access to the system, pay for the fees, and also receive discounts. To add, they won’t need to worry about a thing as a gas mechanism has the ability to protect the network from questionable applications.
The most amazing thing about Bedrock is that it can be licensed either under a joint venture or under custom engineering contracts. In fact, it is designed to be customized. Bedrock is a promising addition to the cryptocurrency market.