Swiss-Based Eidoo on Course for Creating the Swiss Army Knife of Blockchains

The whole market capitalisation of cryptocurrencies is hovering round $136 bln, based on coinmarketcap.com. There’s a rising curiosity in these new property, and customers want a easy option to entry them. Exchanges are the gateway to cryptocurrency, and provide buyers and customers an opportunity to remodel their fiat cash into crypto and the opposite means round. Nonetheless, exchanging property nonetheless stays a frightening problem that requires navigating a number of exchanges and utilizing a number of wallets.

The search for constructing a greater trade and a safer pockets has led to a centralised vs. decentralised trade debate. In a centralised trade, all transactions happen in a central location and contain switch of property to the trade. Handy however unsafe.

Decentralised exchanges provide redress however they put up their very own challenges, corresponding to liquidity threat. Eidoo, a Swiss-based hybrid trade and a multi-currency pockets, presents one of the best of each the centralised and decentralised worlds and on the identical time.

Safely and swiftly

The mixed advantages of a centralised and decentralised trade apart, Eidoo is providing safety within the type of preserving keys on person cellular gadgets, in addition to giving full management over owned cryptocurrencies to their purchasers. Additionally they promise greater speeds and scalability in contrast with different decentralised exchanges.

Eidoo has purposes for each Android in addition to iOS. Since Eidoo combines an trade and a pockets multi functional go, it’s potential that that is the one app anybody would ever have to cope with cryptocurrencies. As it’s stated on their web site, “We need to make just one utility, extraordinarily straightforward to make use of, and convey the crypto world to the top person; a bridge in the direction of worlds that presently, as a person expertise, should not so shut to at least one one other.”

A brand new CEO for a brand new Blockchain to human interface

In a press launch made out there to Cointelegraph, Eidoo introduced that Thomas Bertani has been appointed the brand new CEO of Eidoo. Thomas is understood for his work at Oraclize. Eidoo can even be coming into right into a strategic alliance with Oraclize.

“The Eidoo undertaking imaginative and prescient is someway complementary with the one I’ve been engaged on the previous couple of years. Because of the joined effort of a number of groups which at the moment are coming collectively below the identical umbrella, a brand new robust basis was shaped to construct production-grade Blockchain apps that are each straightforward and safe. There’s a great distance forward, however quite a lot of nice work has already been performed, proving why the Eidoo staff is so thrilling.”

– Thomas Bertani, new CEO of Eidoo

A one-stop resolution that may liberate customers

In the mean time, crypto customers have to make use of n-number of wallets and completely different exchanges to conduct transactions. This implies preserving tabs on what they’re utilizing and exposing themselves to exchange-based dangers. Then there may be the query of a break up between applied sciences, corresponding to Bitcoin and Ethereum. Eidoo has the potential to restore this schism and bridge the fragmented business.

They’re going to be deploying two unbiased groups for Bitcoin and Ethereum that may work on these applied sciences and supply one of the best consequence for customers. The pockets will provide entry to Bitcoin, Ethereum and all ERC20-based tokens. They’ve additionally received plans so as to add different currencies like Litecoin, ZCash and so forth. A whitepaper outlining their plans is accessible.

If Eidoo have their means, they’ll take the avatar of a Swiss knife of Blockchains, one thing which might be a handy one-stop resolution. Maybe it’s excessive time that occurred.