Eidoo: a New Cryptocurrency Exchange and Wallet

The ever-growing nature of the cryptocurrency industry has allowed new coins, ventures, business models, and opportunities to be introduced every other day.

While some of them offer ambitious features that they have yet to develop to be used tangibly, others kept their offerings simple yet directed at real-world usage, for functionalities that are very clearly required by the everyday user.

One such fairly new business comes in the form of Eidoo, which aims to establish itself as the “blockchain-to-human” interface to help and facilitate new users of the cryptocurrency world that do not know about the backend of cryptocurrencies, but who appreciate this new financial phenomenon and want to be a part of it.

By providing a slew of services, including cryptocurrency exchange functionalities and wallet facilities, Eidoo aims to develop a one-stop shop not only for such new users but also for those proficient and established users that want to benefit from an easy to use platform while performing their everyday tasks.

To achieve that goal, Eidoo intends to operate as an integrator of technologies to allow its users to benefit from a never seen before experience. Building upon that notion, the platform will utilize technologies from two of the most famous and effective cryptocurrency platforms, Bitcoin and Ethereum, and aims to improve upon the collective functions that these entities bring to the table.

The Eidoo platform intends to be operated optimally through mobile devices to provide the utmost accessibility to its target users so that they can utilize the platform’s cryptocurrency exchange services right from their phones.

The cryptocurrency exchange which Eidoo intends to run will leverage from the security and safety of a blockchain network without the added requirements of accessing one in its conventional setting. Through its mobile platform, Eidoo aims to make the process of accessing blockchain to be as easy as opening a regular app on your phone.

Among other cryptocurrencies, the cryptocurrency exchange will also allow cross-trading between Ethereum and multiple ERC20 tokens, translating to what it calls an “atomic outcome.”

Whereas, Eidoo’s wallet services will provide storage for Bitcoin, Ethereum, and all ERC20 tokens that will be accessible from any users’ phone. The wallet does not need a full node and assures its users that their private keys will remain encrypted through the app.

Along with those features, Eidoo aims to revolutionize the process of cryptocurrency trading by allowing artificial intelligence (AI) suggestions to its users to invest and trade in cryptocurrencies. For this feature, Eidoo has joined hands with ORS SA, the Swiss branch of leading AI company ORS Group. Through the AI protocol which is dubbed as “Hypersmart Contract,” Eidoo aims to provide its users with unbiased, analytical and logical advice.

By its practical yet much-needed offerings, Eidoo aims to become one of the primary platforms of accessibility to blockchain functionalities. With over 200,000 worldwide downloads of its app, it seems that the company is well on its way to achieving its plans of doing so. However, it remains to be seen how well the company can do in a year or two when it faces strong competition from other companies of the same stature and functionalities.

By | 2018-03-03T18:32:54+00:00 March 3rd, 2018|Token Review|0 Comments

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