Eidoo.io is a multi-currency wallet developed by EIDOO SAGL, a company based in Chiasso, Switzerland. Eidoo’s goal is to build a blockchain with a human interface to simplify the interaction between the blockchain and its users. They also strive to make the complexities of the crypto world easier to understand, with a particular focus on user experience.

What is the Eidoo Wallet?

Eidoo is a project born with a mission: to try to bring blockchain technology to everyone’s life. Eidoo offers a suite of products and services (blockchain wallets, exchanges, digital identity technology, and more) that have been optimized for the most intuitive and easy-to-use interface.

First of all, Eidoo has successfully launched a Blockchain wallet with a simple interface, easy to use, and most importantly, the ability to store many types of digital assets in one. The Eidoo Blockchain Wallet is also the focus of the whole project.

Eidoo Wallet & Surrounding Services

Eidoo Wallet is a wallet that can store many types of digital assets such as Bitcoin, Ether, and tokens according to ERC20 and ERC223 standards without complicated tweaking and still ensure safety. From the Eidoo wallet, developers will integrate a secure transaction system, allowing users to transfer their assets to other digital wallets simply and quickly, but still ensure that users have full control. control and decide.

Eidoo will also provide digital identity solutions. In many cases, this technology is useful for associating addresses with specific digital characteristics. For example, to pay taxes or receive tokens for specific uses in public administration, Addresses may be associated with government-recognized identifiers.

At the moment, when the writer uses the Eidoo application, the wallet still only supports Ethereum and the ERC20 standard token. Maybe in the near future, when the Lighting Network is updated to the Bitcoin network, it will help Eidoo wallets store and convert Bitcoins.

Features of Eidoo

HD Support: Eidoo has a hierarchical deterministic structure, which allows users to create secondary wallets while keeping the primary wallet address private.
Simple to use: the wallet allows users to easily read QR codes, send and receive digital currency, and share their address with friends.
Contact List: Eidoo stores all of your Ethereum addresses in a standardized manner.
Ethereum transaction history: a user can view a list of all transactions you’ve made with various ERC20 or Ether tokens.
Eidoo Exchange: Eidoo has built a decentralized exchange. The integrated exchange is a hybrid exchange where users can cross-trade between ERC20 and ETH assets. Trade is conducted according to a technologically consistent and empathetic atomic outcome with low fees.
Backup: Eidoo users’ funds are secured with a unique backup passphrase.
User-managed private keys: If a user manages their digital assets with their own private key, the situation changes. The private keys are encrypted into their smartphones, and they are not held by Eidoo.
ERC20 and Ethereum token storage: Eidoo supports ERC20 and Ethereum token storage. Users can send and receive digital coins through Eidoo tokens.

Disadvantages and Benefits

A multi-dimensional, multi-cryptocurrency platform.
The ability to link cryptocurrency-backed debit cards.
Multiple account types are available, each with different features.
Only BTC and ETH-related tokens are supported.
Difficult registration process due to AML compliance and wallets’ non-custodial nature.
To begin trading or swapping cryptocurrencies in the wallet, you must first provide your identity.

Security

Eidoo.io has tried to create a common platform for technologies that are difficult to collaborate on due to different visions and has built a tool that manages different technologies through a unique user experience. Security is one of the main priorities, which is the main reason why deep encryption techniques are used to secure users’ private keys. This wallet is unmanaged, which means users must ensure that they do not lose their password and seed phrase.

As part of the list of security features, the Eidoo user HD settings provide a backup phrase, a private key stored on the user’s device and not on a server, and a recovery tool to help recover wallets from lost devices as quickly as possible.

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