Introducing Secure Hash - Enhanced Security in Universal Wallet

Introducing Secure Hash - Enhanced Security in Universal Wallet

In this article, we explain our latest added feature to the Ethos Universal Wallet, SecureHash. We will outline the benefits of SecureHash and the forced upgrade process we will be utilizing to implement this new feature.

What is Ethos SecureHash?

Upon creating your SmartWallet you are given a 24-word recovery phrase, which is connected to your account. This is also sometimes referred to as your private key or seed.

Ethos SecureHash is a safe way to ensure that the 24-word private key stored securely on your device is always compatible with the public key stored on Ethos Bedrock. It can confirm that the deposit addresses generated by Bedrock with the public key are compatible with your private Smart Key ensuring you can successfully transact.

This provides an integrity check, giving our customer service a way to cross-verify your account without transferring or revealing the information of your private key or 24-word key recovery phrase.

How Does Secure Hash Work?

When a user creates a Smart Key, there is a public and private key generated. The private key is the 24-words, the public key is what we call the extended public key. The extended public key generates your deposit addresses for all your wallets in the HD derivation paths.

We use the extended public key to tie a user to their account in Bedrock. We never store private keys. Until now, the extended public key has been blind and out of reach to the user, making it difficult to validate between user and bedrock.

With SecureHash, we take a unique hash of the extended public key, readily make this information available on the app for the user. This allows the app and the server to be cross-referenced to make sure there is a match.

Please keep in mind that SecureHash does not expose any private information – it’s simply an integrity check.

SecureHash will be automatically generated upon our next update, linked to every account upon re-logging in to their device and stored.

Why Do I have to Re-Login After the App Update?

This is an added security benefit to protect the accounts of all users, and ensure that with every major app-update, each user manually chooses to access their account, while also allowing the implementation of SecureHash and future features into every Universal Wallet.

Critical Info: Ethos Universal Wallet Update 1.5.2 Process

Once the Ethos Universal Wallet Update 1.5.2 is pushed out to all users, your app will require an upgrade before accessing your account. This is a forced upgrade.

If you don’t update your app automatically, once you open your app, you will be sent to a locked screen with a prompt to update your app. Simply, manually visit the iOS or Android app store to update your app.

Update Screen Bug: Please note, if your app has not already been updated to Version 1.5, and you are using an earlier version such as 1.3, the button to “Update your Universal Wallet in the App Store” on the lock screen will be inactive. This minor bug will be fixed with update 1.5.2.

Simply, visit the app store to update the app and you’ll be all set. You’ll be able to log-back in and access your account. All funds are completely safe during this process.

Updating the App

Once you upgrade your app, if you have an active SmartWallet and have generated a 24-word key phrase, your SecureHash will be created automatically in the backend of the app.

You can always find the SecureHash information in your “Privacy and Security Settings.”

Simply, log back into the app using your account information, and you will have access to the latest version of the Universal Wallet. It’s that easy!

Summary of the Benefits of SecureHash

  • Added Security for Ethos Users.
  • Ensures no mismatch between your 24-word key phrase and extended public key.
  • Better Customer Support Experience.
  • Universal Wallet users can use SecureHash for Customer Support without offering up your Private Key or sensitive account information.
  • Added Ease of User Experience in the Universal Wallet.
  • Secure Hash is stored in your User & Privacy Settings.

Ethos Update: An Open Letter to the Community

Ethos Update: An Open Letter to the Community

With the release of Ethos 1.5 and the Ethos Universal Wallet coming up on its “half-year birthday,” it is incredible to reflect on all the progress that Ethos has made over the last 6-months. In this article, I wanted to answer the community’s questions about what the future holds for Ethos and what is coming next.

Let’s start with the stats. The Ethos Universal Wallet has grown rapidly to over 100,000 users, and has processed many times that many transactions. The wallet now has 143 transactable coins and support for multiple blockchain types and tokens.

Over 100k wallets have been created – more than one per user! We built an automated airdrop tool that processed airdrops for nearly 60,000 users across half a dozen coins without any impact to the base-level network. We’ve processed thousands of customer support tickets 100% within SLA with a 97% approval over the last month. We continue to strive for the most outstanding customer service in crypto.

In addition, we have just released Universal Wallet version 1.5, which is our biggest update ever – more than twice as many merges/bug fixes as any other release we’ve had thus far. In update 1.5, we have built ETHOS token utility directly into Bedrock through Ethos Status.

In short, Ethos Status gives users varying status levels depending on the number of tokens they hold. With Ethos’s account structure, it also allows that “status” to be shared among multiple applications – allowing partners to build token utility directly into their applications. As a start, in the wallet, Ethos tokens give users elevated review visibility, review weight and a status badge. As the second phase of the fiat gateway is built, Ethos Status will be integrated into the user experience and benefits.

Furthermore, Bedrock has been delivered nearly a year ahead of schedule. While it was initially slated for mid-2019, Bedrock was unveiled in August 2018 as a fully functioning platform that is up and running at scale today, powering the Universal Wallet.

Bedrock is an API layer that enables Ethos and other financial institutions to seamlessly interact with multiple blockchains, to power a wide variety of crypto-based applications, including custody, wallets, merchant payment services and more. For example, one of our APIs, xAlert, can notify users of transaction changes to their wallets in real-time and is the API behind Ethos Status! Bedrock opens Ethos to exciting new partnerships, and gives us the ability to expand our institutional-grade services.

With the announcement of Bedrock, Ethos also announced an exciting partnership with Voyager to deliver best-execution trading and broker services to Universal Wallet users. As part of this relationship, Voyager will be building on Bedrock and Ethos Status will be integrated into the experience. We are excited for the upcoming integration of our technologies, as we are working closely to revolutionize how people invest and transact with crypto.

Let’s be real, the poor cryptocurrency market conditions have been extreme, as we have been braving what I’ve called the Crypto Nuclear Winter. And while the sell-off has been challenging for token holders and the wider-crypto community and industry alike, I think it’s important to focus on why in the long-run it’s extremely beneficial for crypto and for Ethos.

The rapid growth of crypto attracted a lot of people in the industry, with big hopes and dreams, but lacking the know-how and the practical knowledge, capital and compliance to fulfill and pursue those dreams. The bear market has served as a cleansing mechanism for those less than integrous companies, or simply those lacking the knowledge to execute their vision while still raising significant capital.

This bear market has also been a gift to established and quality crypto companies, giving us ample time to build our technology and develop the regulatory-friendly infrastructure for true mass adoption of crypto assets. This time has been precious, and our development, executive and marketing team has used it to put our heads down and build the launch pad of a financial revolution.

In my meetings across the globe, it’s been very apparent that some of the greatest talent from traditional finance sectors have moved into the crypto market to use their knowledge of the previous financial systems, to support the development of this one. It’s this infrastructure and its maturity, which will take time to evolve and grow.

As Ethos reflects on the past and looks towards the future, we’ve accomplished a lot, but still have a lot to build. We’ve completed the Universal Wallet and Bedrock which are two of the foundational pieces of technology for the fiat gateway and crypto-payments.

Ethos is here to stay, and I wanted to write our community directly to reassure you on our bright road to mass adoption ahead. Our focus to come will be on the future of the fiat gateway, enhancing the token support on Universal Wallet and Bedrock and developing additional blockchain architectures for applications at scale.

And of course, building a financial future which is open, safe and fair for everyone.

Shingo & the Ethos Team

AdBank & Ethos Collaboration

AdBank & Ethos Collaboration

Ethos is excited to announce our collaboration with AdBank Network. AdBank Network is a revolutionary ad platform with total transparency of payments between advertisers and publishers, powered by blockchain technology.

AdBank Network’s technology also helps protect publishers from ad-fraud, a multi-billion dollar industry, ensuring proper delivering of advertisements to real people. While also also supporting publishers and authors to receive a much greater benefit from ad-revenue than standard advertising mediums.

The AdBank Network to be Listed on Ethos Universal Wallet

Ethos will be listing the AdBank Network Token (ADB) in the Universal Wallet, so that it is fully transactable. Universal Wallet users will be able to store, swap, track, send and receive AdBank Network Tokens.

Ethos Universal Wallet is the Official Wallet for the AdBank Network Token

We are pleased to announce that the AdBank Network has named Ethos their Official Wallet of choice. The Ethos team will work with AdBank Network to ensure quality support and high-performance transactability of the token.

We welcome the AdBank Network to use the wallet, and our 24/7 customer support is always available if you ever need assistance.

Ethos to Test the AdBank Network Platform

Ethos and AdBank will be collaborating to run a campaign on the AdBank Network Platform – featuring our flagship app, the Universal Wallet. We will be using dynamic ads on their search and display ad features on crypto based publications to generate traffic and awareness.

The AdBank Team is full of inspiring talent and quality tried and true experience.

We are excited for this collaboration opportunity, and to continue to build bridges within the blockchain community and the disruptive solutions which are emerging. The future is for everyone.

Ethos Status – Powered by the Ethos Token

Ethos Status – Powered by the Ethos Token

Now that we've released our flagship app – Ethos Universal Wallet – and have successfully performed over 1-million transactions to date, we're ready to integrate one of our initial layers of token utility into Ethos Universal Wallet, called Ethos Status.

What is Ethos Status?

Essentially, Universal Wallet users will be assigned a status and badge based on the amount of Ethos tokens that they currently hold inside the Universal Wallet. Your badge and status will be interactive and responsive to the number of tokens you hold in your SmartWallet, and will change as you add or subtract Ethos tokens.

The level of your Ethos status will correlate to enhanced features in the wallet, which we explain below. And in the future, Ethos Status will expand to include discounted rates on exchange and fiat gateway functionalities, etc.

We built Ethos Status through an enhancement to Bedrock xAlert, in which we are now able to associate the amount of ETHOS a user is holding with their account and in-turn implement a tiered system of benefits.

Today, we announce our first round of benefits, although they will expand as Ethos and the Universal Wallet functionalities grow.

Ethos Status Tiers

In this first implementation of token utility, we encourage users to stake their ETHOS in the Universal Wallet. The amount of ETHOS you have staked in the wallet, will determine your status from Shrimp to Humpback Whale! With each level you get a badge that’s displayed on your profile.

Disclaimer: Ethos Status Levels and Badges may change in the future – as we learn more about how to enhance and refine this feature for our community.

While the Ethos Badge will be a default feature, we understand some users may want the benefits that come with their Ethos Status tier, but not want others in the community to have insights into their holdings, so we’ve made displaying your status a feature that is optional and can be simply turned off in your user profile settings.

Ethos Status Perks

We have built a new feature for all users, the ability to leave and rank a written review. At each ascending level of Ethos Status, we increase the the power of your coin ratings, so that your vote matters and your voice stands out in the community.

Increased Voting Power

Your Ethos Status impacts the weight of your Thumbs Up or Thumbs Down on reviews written by fellow crypto enthusiasts. Each review can be up or down voted by community members in the Ethos ecosystem, and reviews can be sorted by helpfulness.

Below is the chart which outlines the levels of thumbs up power we have for our various Ethos Status levels.

Showcased Comments

The higher your Ethos Status, the greater the likelihood that your comment on a Token will be featured in the showcase, and put towards the top to inform others on your insights on a given coin.

These showcased comments will then have the opportunity to be voted on by the community with a thumbs up or thumbs down, based on how helpful your comment is. Of course these votes will be powered by their Ethos Status, as outlined above.

By having a greater influence on the platform through being a Ethos Token Holder, you have the opportunity to support guiding the community with your crypto insights and opinions, which are then self-regulated by other members in the community with their own voting power.

Build Influence on the Ethos Platform

As you leave helpful reviews on various coin profiles, you have the opportunity to get upvoted, which can lead to our Ethos users clicking on your coin profiles, and following you on social.

Status Tip: Before Ethos Status launches, make sure you update your user profile with your social media info!

See a review you like? Check out the users profile and follow them on other platforms. Learn from the community, join the discussion, and grow your crypto network!

Important: All users have the opportunity to not disclose their social information and can remain anonymous at all times.

The ETHOS Token Utility Future is Bright

This is just the beginning of ETHOS token utility. We will be testing these features and enhancing them as we continue to grow, to explore enriching the users experience of the Universal Wallet.

We are so excited to share what’s in store. Stay tuned, get engaged and wear your Ethos Status with pride!

Universal Wallet - Much-Anticipated 1.5 Update & What’s to Come

Universal Wallet - Anticipated 1.5 Update & What’s to Come

Please go to the app store and upgrade your app!

Ethos has just released our most significant update to the Universal Wallet yet, release 1.5. In this article, we highlight the major features and changes contained in this update, as well as give you behind-the-scenes look at what’s to come in our future updates.

We highly encourage all users to please go to the app store to update your app to the latest version.

Performance Enhancements

The dev-team has been hard at work ensuring that you have the snappiest and smoothest cryptocurrency wallet available in your hands, and this update will mark a series of radical performance enhancements we will be making.

Whether you are opening your app to the home screen, loading SmartWallets, WatchFolios and even pulling up coin charts, the app has been leaned out for faster loading times and for charts to require less in-app resources. We have also changed to a new homepage framework so that you can scroll through your SmartWallets and WatchFolios faster and easier than ever.

By changing the way we cache data and call data inside the app, we’ve been able to reduce all relevant load-times. Let us know what you think – and how we can continue to increase performance.

Ethos Coin Library – Profiles, Reviews & Comments

Coin Profiles have now been enhanced, including the ability for the community to rate tokens, leave comments, see their comments in the showcase and upvote or downvote comments based on whether they find them helpful.

We have also added education and social links to each Coin Profile so you can easily click to see read a token’s white paper or see that latest updates and announcements in their social channels.

Ethos Status

Universal Wallet users who store ETHOS tokens will now unlock power features inside the app – being one of our first features of ETHOS token utility we introduce for our users.

The more ETHOS tokens you hold, the more power you have in the Ethos Universal Wallet. For now, it determines the level of your Ethos Status, pushes your comments into a higher-priority of the showcase and increases the voting power of comments you find helpful.

And for those wondering, Ethos Status is enabled by enhancements to the Bedrock xAlert API.

Click here to read our full article on Ethos Status.

New Coin Integrations & Architecture

For this latest app-update release, we welcome AdBank Network Token (ADB) to the Universal Wallet, and in the near future Ethereum Classic (ETC). Users will be able to store, track, send and receive ADB Tokens after updating their wallet to 1.5.

Disclaimer: Ethereum Classic will only be available upon our forced upgrade and manual activation process, and will not be available and fully transactable upon downloading the latest upgrade. Stay tuned to Ethos Social Channels for when we announce ETC is fully live in the Universal Wallet!

Most notably, our dev-team has re-designed the internal architecture to help expedite the process of integrating tokens in the future. Meaning more tokens will be coming soon to a Universal Wallet near you. We’ve also been gathering your votes for the tokens which are up next on deck for our integration process!

Coming Soon to Ethos Universal Wallet

New Features:

Fiat Gateway with Simplex – Soon, Universal Wallet users will be able to purchase crypto with Fiat and withdrawal their crypto to Fiat using Simplex. We are clearing the way to release this in our next major app-update 1.6.

Coin Swaps with ShapeShift – Due to meeting the new compliance and regulatory frameworks required for our ShapeShift integration, ShapeShift and coin swaps are now currently set for our app-update 1.7.

Push Notifications – Whether it’s the latest update, a change to your Ethos Status or in the future coin news and alerts, we will soon have push notifications active in the Universal Wallet, so we can always keep you informed at the push of a button.

Bedrock in Action

Payroc – Merchant Solution
The Ethos Team is rapidly advancing our crypto payment service in partnership with Payroc, using Ethos Bedrock. First, we are setting up the frameworks to on-board merchants. Account creation, verification and getting their wallets created, so we can supply them with the easy-integration of a “Pay with Crypto” button for their websites.

This will give online merchants the power to perform complete crypto transactions, and have it be fully functional with their existing product/service delivery or payment system. We will keep you posted with our progress and share a demo soon!

Big Thanks to our Community!

With every major update, we advance forward toward the new economy. Let us know what features you would like to see us add by emailing us at [email protected].

The future is bright!