Cryptocurrency had the year of its life in 2017 as the market exploded and dozens of new platforms and ecosystems released and became popular. However, despite the mainstream appeal and headlines that crypto was getting, there is still a decent large barrier to entry if you want to get involved in the industry. You often need a wallet, an account with an exchange, both of which can be a little bit tedious, especially for newcomers.
In order for cryptocurrency to have a permanent home in mainstream society, it needs to be extremely simple to use and easy to get started with. The more complex something is to start using, the less people that are going to make the switch and start actually using it.
A company that is looking to make getting involved with cryptocurrency and blockchain even simpler is Ethos. In this article, we will talk about what Ethos is, what they are trying to do, how they are going to do it and more.
What is Ethos?
Ethos is a company and cryptocurrency that has the mission to build a financial ecosystem that is safe, open and fair for everyone involved. Ethos feels that this is best done through a universal wallet that is easy to use and set up, as well as a fiat gateway, which would make it very easy to get involved with buying or trading coins. We will look more in-depth at each of those features later on in the article.
By using a great design, blockchain technology and social intelligence, Ethos believes they will be the solution to the problem of adoption, and will allow everyone to participate in the cryptocurrency market. Now that you know a bit about what Ethos is trying to do, how are they planning on doing it?
The Features of Ethos
So what about Ethos makes it the company/platform to essentially bridge the gap and make crypto accessible to everyone? Well, there are a number of key features, benefits and innovations within the Ethos platform and ecosystem.
Ethos Universal Wallet
The core and most important part of Ethos is the Ethos Universal Wallet. The wallet will put you in control at all times and eliminate the need to manage multiple wallets. It connects, scans and links up with several other wallets to update your user balances of all different kinds of coins.
The team has also said they will be able to store and transfer value for free, and the wallet will be open to developers, individuals and companies. Adding a new coin type to your wallet will be incredibly easy, adding to the simplicity of the platform as a whole.
Ethos Transfer and Exchange
Ethos is not just a wallet, but also a transfer and exchange service. This means they want to allow you to exchange your crypto assets within the platform, and also give you the ability to deposit and withdraw funds from other wallets, as well. If they truly want to be a complete asset management ecosystem, they will need this transfer and exchange to be successful.
The community of Ethos as a whole is also a major feature, as the platform will have community reviews, ratings, consensus and more. It is called Ethos social and will give people access to experts and enthusiasts. This will all help people invest intelligently, and learn the ins and outs of the industry as well.
If you contribute to the site by answering questions or offering advice, you can earn rewards and trust points, and could eventually become an Ethos Expert. The platform is very focused on people and getting them involved with cryptocurrency, so having a social aspect was a great move.
While they are people-focused, there is some impressive and complex tech being built at Ethos. And they don’t want to keep it to themselves; they want to share it so others can build with Ethos as well. This is where Ethos Bedrock comes into play. It is a high performance and sophisticated API architecture that they are hoping will power the crypto platforms and applications in the future.
A Great Design
In addition to the technical benefits and features of the platform, Ethos has an outstanding design as well. As you could imagine from a company very focused on user-experience, the UI had to be very simple, attractive and intuitive. Most ICOs and companies focus mainly on the technical issues, and Ethos took a little bit of a different approach, one that will hopefully gain mass adoption due to the simplicity and straightforwardness of the offering.
The Ethos Token
Like many blockchain and crypto platforms, the Ethos platform features a utility token, which is also called Ethos. It is an access token that will enable anyone to use the platform to manage their cryptocurrencies. The token fuels the platform as it will be the way that people pay for the services and fees throughout the Ethos ecosystem. However, you should be aware that the token won’t pay dividends in any way, and won’t allow you to vote on company matters.
The Team at Ethos
The CEO and founder of Ethos is 20-year old Shingo Lavine, who has a deep passion for bringing cryptocurrency to the masses. While he is indeed young, he is considered by many as an expert and thought leader in cryptocurrency and blockchain. He has worked in a variety companies and ventures, all while currently studying computer science at Brown.
Lavine has surrounded himself with a world-class team of experts who specialize in a variety of different industries. A lot of the team has experience in the finance industry, including banks and lending firms. Of course, the team also features many experts in design, engineering, technology and more.
In conclusion, Ethos is hoping to become a bridge to the cryptocurrency market that could open up the crypto industry to a whole new market that has been apprehensive to join it. However, they are still fairly new, so only time will tell if they are successful and able to usher in a new generation of crypto enthusiasts. If you are interesting in learning more about Ethos, be sure to visit their website or check out their whitepaper, as well.