Posted on: 21. March 2018

Eidoo Coin

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Introduction on the Eidoo Coin

According to the developers, Eidoo Coin is the first project that will simplify interaction between the average user and their cryptocurrency. The heart of the project will be a mobile wallet that is already available for download for iOS and Andriod devices. Users are given the opportunity to add their debit card directly to the wallet, in addition to many other useful features.

The team also has extensive experience and background in the cryptocurrency industry, unlike other teams who can be overcrowded with unnecessary titles. The details of the project can be found at https://www.eidoo.io/, the official website, in addition to the German white paper. The project has already debuted in popular media like Oracle, NewsBTC and so on.

The Eidoo Coin Multi-Currency Wallet – What is it?

Before explaining the wallet, it’s first important to understand what the blockchain system is as a whole. Blockchain technology is a database with a specific structure that provides secure access to information in a transaction chain design, ensuring transaction security and excluding the possibility of fraud, infringement of property rights, and data theft.

Eidoo is a multi-currency wallet that simplifies the management of your digital assets through the secure interaction between the blockchains and their users. It should be noted that the main objective of Eidoo Coin is to provide its users with an easy-to-understand interface that enables secure and simple storage of information.

Sales and purchases can be handled decentrally through the secure transmission of digital resources through crypto conversions.

As cryptocurrencies gain popularity around the world, new proposals and business models in this direction require constant improvement and refinement, since reliability, security, and convenience are important issues for fully fledged use of digital wallets.

Project goals

The goal of the Eidoo Coin developers is just to make the application extremely easy to use, ensuring end-user reception of the cryptocurrency. This means that this project should connect the cryptographic world and the user experience.

Another task of this project is to create a common space for technologies whose founding technologies (eg. Bitcoin and Ethereum) have problems interacting due to different ideas with the work of the cryptocurrency. The solution to this challenge is seen by the founders of Eidoo as creating a tool that manages different technologies through a unique user experience.

Essentially, Eidoo Coin is a platform that integrates technologies and services that already exist today. However, if one analyzes the ever-evolving world, both in technology and in the convenience of using applications, there are no systems that can work forever. Thanks to this methodical approach, Eidoo Coin will continue to improve both the technology and the user experience.

Eidoo Coin Token

To run a multi-currency wallet, you must have the Eidoo Coin Token. The Eidoo Coin Tokens are a necessary currency for the use of Eidoo Coin Services in a decentralized exchange and commodity market.

Without the Eidoo tokens, it is not possible to trade the cryptocurrencies on the stock exchange or to buy goods on the market platform, as commissions can only be paid in Eidoo tokens.

These tokens are classified as ICO-based tokens that have replaced the known IPO model. Tokens are issued by adding a transaction to the blockchain account with their unique ID, number, and description. Any number of tokens may be sent to any wallet after emission in the blockchain.

Multi-currency wallet

The benefits of Eidoo's multi-currency wallets include the ability to use multiple ERC 20 tokens and the Ethereum tokens.

Another important point is the fact that Eidoo provides a convenient interface with the ability to create a contact list that stores Ethereum's transaction history. The multi-currency wallet stores and displays a list of all transactions performed by the user in the system.

The reception and sending of the cryptocurrency are instantaneous, which greatly simplifies the work of the system by the reflection of the account balance in online mode. To ensure the security of working with an Eidoo multi-currency wallet, system developers have provided key components, such as a passphrase, that protects against possible unauthorized transactions.

The Eidoo multi-currency wallet has the ability to instantly recognize all token used by the user and supported by the Ethereum blockchain system. If the user uses the tokens that are not recognized by the program, the tokens are also available, but instead of the log information, the parameters indicate to the user that the token is unknown.

In such cases, Eidoo's multi-currency wallet is equipped with a decentralized exchange that allows each user to exchange unknown tokens, identified as ERC20 and ETH online, against other currencies.

Conclusion

In the near future, Eidoo plans to introduce an unusual innovative approach that has no analogs and aims to support the application in terms of security, allowing users to more conveniently and securely control their assets. Thanks to Eidoo technologies, users can protect all their accounts and asset addresses as well as their signature keys with a single secret sentence.

These advanced Eidoo technologies provide users with the ability to extract and restore digital assets as needed. Despite its apparent complexity, this is the easiest, most convenient and secure cryptocurrency wallet.


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