The Evolution of Custody: From Bearer Bonds to Blockchain

The Evolution of Custody: From Bearer Bonds to Blockchain

How we secure assets, whether they be securities, bonds or currencies, has been in a state of flux over the past century. As markets and the needs of individuals change, so do the mechanisms by which we secure and exchange assets. Central to all of this is the question of custody. How does an individual maintain control, or custody, of their assets without compromising security or the ability to access liquid markets for exchange?

How we secure assets, whether they be securities, bonds or currencies, has been in a state of flux over the past century. As markets and the needs of individuals change, so do the mechanisms by which we secure and exchange assets. Central to all of this is the question of custody. How does an individual maintain control, or custody, of their assets without compromising security or the ability to access liquid markets for exchange?

Today, the blockchain enables self-custody of assets in a way that when combined with innovative technologies like Ethos Bedrock, provides cutting edge security, rapid access to funds and liquidity in a way unrivaled by any other time in history. Understanding how this came to be is best done through examining the evolution of asset custody over the last century.

When trying to understand custody, a great place to begin are with bearer instruments, like bearer bonds, which are issued on paper (or goatskin) and can be stored by individuals in a safe, under lock and key. When one has physical possession of a bearer instrument, they gain all the beneficial ownership right associated with the asset. Thus, safeguarding these documents is vital since they are unregistered, with no records maintained of the changes of ownership or of the current owner.

Naturally, some people don’t want to keep these at home for risk of theft and have historically turned to banks for storage in a safety deposit box for safekeeping. This is referred to as custodial possession. The customer could then be given a key so they could get into their safety deposit boxes and have access to the assets. Sometimes the bank would also have a key. When two parties have a key to gain access to the underlying asset, this is referred to as joint custody.

Looking Back

As financial markets grew through the 20th century, the management and transferring of stock certificates, bearer bonds and cash became very unwieldy. In the 1960s, the New York Stock Exchange saw securities trading volume more than double over a span of just 3 years.

Adjusted for inflation, it’s estimated that billions of dollars worth of securities were stolen or lost during this era. A consequence of poor record keeping, insecure mechanisms of transfer, and theft from centralized repositories

The overwhelming trade volume marked the start of the Paper Crisis, which illuminated that the standard deployed by brokers for transferring and record keeping on securities exchanges, which at the time relied largely on paper and pen, was ill-equipped to handle the growing trade volume. This crisis led to dozens of brokerage firms going out of business and the implementation of computers, alongside professional management, to handle the high volume of trading.

Present Day

Today, custody has legally been defined as “. . .holding, directly or indirectly, client funds or securities, or having any authority to obtain possession of them” (17 C.F.R. 275.206(4)-2). This definition, while applicable to the status quo, fails to encompass custody as enabled by the blockchain, which breaks away from the inherent relinquishment of control necessitated by current standards.

The blockchain provides a revolutionary means of tracking, efficiently transacting/exchanging and securely storing assets in a decentralized fashion, in turn offering a solution that can mitigate risks associated with centralized fund storage through the self-custody of assets.

In the following section, we will provide a brief technical overview of how custody of digital assets can function in the emerging digital economy, specifically highlighting how the Ethos Universal Wallet, through Ethos Bedrock, is able to deliver safe and practical solutions to consumers and institutions through building on industry standards.


The Technology: Hierarchical Deterministic Wallet & Bedrock

As you now know, the blockchain enables self-custody of digital assets. Over the past decade, creating a wallet to store your digital assets was a complicated process, requiring individuals to manage independent public and private key pairs for every wallet they wanted to maintain. In order for someone to have 10 Bitcoin address, they would need to manage 10 private keys and 10 public keys… and if that list of lengthy alphanumeric private keys was damaged or lost, there was no simple way to regenerate those missing keys.

Now imagine if there was a way to securely generate 10 private keys and 10 public keys, all derived from and restorable with a single set of words instead of a lengthy alphanumeric string, wouldn’t that be convenient? Enter hierarchical deterministic wallets! Hierarchical deterministic wallets commonly referred to as HD wallets, allow an individual to create a multitude of private/public key pairs without the need for complex backup mechanisms or individual key management by the user.

The Ethos Universal Wallet is built 100% on Ethos Bedrock, with Bedrock being utilized as an institutional-grade custody engine. Bedrock Custody will solve the “custody trifecta” where you have your funds rapid, accessible and secure. Let’s take a dive into how all this works and examine how Ethos is building on industry standards to provide safe and secure custody solutions to consumers and institutions at scale through Ethos Bedrock.

BIP32

BIP stands for Bitcoin Improvement Proposal. A BIP is a standardized way of introducing proposals for alterations of Bitcoin, including the network protocol, block or transaction validation, and more. BIP-32 describes what HD wallets are and how they operate. An HD wallet is a system for deriving seemingly infinite private/public key pairs from a single point referred to as a seed. This creates a hierarchical tree-like structure of private/public keys.

From a mnemonic phrase, the seed is derived. That is hashed and a master key, also known as a parent key, is derived. From that parent key, you can then derive child keys underneath that. From each of the children, you can derive more child keys, and so on. Think of it as a tree branching out. This structure also allows the owner of the wallet to provide one of the branches, or sub-trees, to someone else and they can then generate more addresses further down that tree.

Deterministic wallets eliminate the need for a user to document every single private/public key because they can be regenerated at any time with the single mnemonic phrase that’s held by the wallet owner

BIP39

When creating a cryptocurrency wallet, a mnemonic phrase is sometimes generated in order to provide an easier way to remember your private key, instead of having to memorize or document a random alphanumeric string. BIP-39 provides a framework for generating that mnemonic phrase. Sometimes referred to as a “seed phrase,” it’s vital to keep this somewhere safe! The individual in possession of this set of words has full access to the assets associated with the given address, think of it as the combination to an otherwise uncrackable safe.

Under BIP-39, standardized lists of words in different languages are provided and can be used for creating a mnemonic phrase. The English language word list has 2048 words and can be found here.

For the Ethos Universal Wallet, your SmartKey is a 24-word mnemonic phrase (vs the 12-word standard used in many wallets). A single 256-bit seed, 24-word mnemonic provides master encryption for all of the private keys in each wallet you create.

Did you know the number of possible 24-word combinations of 2048 words exceeds the number of atoms on Earth!?

BIP44

BIP-44 defines a logical hierarchy for deterministic wallets and expands on the capabilities of the HD wallet as defined in BIP-32 to allow for support of different coin types (i.e., BTC, ETH, ADA) and accounts. This allows for a single mnemonic phrase SmartKey to be used to recover seemingly infinite wallet addresses that hold assets across different blockchains.

While Ethos adheres to BIP32 and BIP39, we found BIP44 as it stands would limit the ability for Ethos to provide unique solutions to our users; namely, the ability to dynamically generate addresses for users to receive payment on blockchains they haven’t used, which enables airdrops into wallets where the address has not yet been generated by the user. In considering these benefits along with additional security risks, we decided to pursue a non-standard approach to unlock use cases that will be beneficial to the overall user experience.

Ethos Bedrock utilizes “extended public keys” to securely generate addresses on our servers without having to transmit private keys. These extended public keys are used to generate all child public keys that exist below it in the derivation path – which are then transformed into addresses that follow the scheme defined by each blockchain. For a full description of the mathematics of these extended keys, see the BIP-32 / BIP-44 documentation.

Through unlocking and expanding on the capabilities of the powerful mathematical structure outlined above, consumers and institutions can now have access to industry leading custody solutions at scale.

Looking Forward

While the application of this wallet technology may be clear to our Universal Wallet users who already enjoy the benefits of self-custody and the convenience of a mobile storage solution, it’s important to note that Bedrock also enhances the custody offering for Voyager as well. Through Bedrock, we are opening up support of coins that Voyager’s existing custody partners do not support and increasing the speed to market for new coins. This enhances both the Voyager retail trading application, in addition to the Voyager institutional offering. For both businesses, Ethos helps solve one of crypto retail and institutional markets biggest problems – secure custody.

The combined Bedrock and Voyager B2B offering will enable businesses of all types to build crypto applications rooted in custody, payments, investing and more. Together, we look forward to granting Voyager’s institutional partners access to the powerful custody solutions enabled by Bedrock.

From bearer bonds to blockchain, we have arrived full circle to what the people need, true and secure asset ownership. Individuals and institutions can rest assured that Ethos is here to provide them with unprecedented security over their assets, without sacrificing ready access to rapidly transact and exchange them.



How We're Working to Tackle Crypto’s Biggest Pain Points

How We're Working to Tackle Crypto’s Biggest Pain Points

Crypto can be confusing, overwhelming and downright scary for anyone, whether they are tech savvy or not. Managing private keys, multiple wallets, passwords and dodging phishing sites and even the fear of getting hacked, has often been too intimidating for average people to take a real foray into Crypto.

While the casual investor relies on a third-party custodian, we all know that unless you control the private keys, you don’t control the crypto. Ironically, it’s these barriers to entry which are also the underlying qualities that gives crypto its revolutionary value.

Since Ethos began, we’ve been focused on tackling the biggest barriers to entry into crypto, while streamlining the utilization of it in the real-world as we play our part to help catalyze a revolution to a more fair and free new economy. We do this by building products which are simple, safe and secure, yet dynamic and innovative.

In this article we highlight the biggest pain points in crypto, and our approach in solving them.

1) Crypto is Too Complicated (and Intimidating!)

Ain’t that the truth! Imagine that you’re trying to buy Bitcoin so you can buy altcoins from an exchange, only to then have to figure out how to download four different wallets. Once you have those wallets, you have to keep them updated plus manage the private & public keys. The process to acquire crypto right now takes too many steps, so it’s no surprise that people just give up and walk away from the possible benefits.

In fact, every person that works for Ethos has personally overcome these hurdles and intimately understands the struggles consumers are facing.

The idea was simple – if we give users the power to safely and simply store, track, send & receive crypto, then it can be a more integrated part of their daily lives. The Universal Wallet gives users the ability to send crypto as easily as they could with PayPal or Venmo, thus increasing the likelihood of exchanging crypto among peers.

Soon you will be able to swap and purchase coins and have them directly show up in your wallet. Making it a one-stop shop for acquiring, accumulating and storing.

Benefits include:

  • Store your tokens, coins and digital assets safely and securely on your mobile device.
  • You’re in complete control thanks to your PIN and biometric data (i.e., fingerprint) combined with safe and secure leading encryption techniques.
  • Generate new wallet addresses and manage multiple wallets at the touch of a button.
  • Sending and receiving just got breezier. Do you have a friend that wants to send you crypto? No problem, you are just two-clicks away from pulling up your wallets public address and QR-code!

Securing your assets doesn’t have to be panic-inducing. Ethos has smoothed out the barriers so you can focus on making wise crypto investment decisions.

2) Centralized Storage

As we just covered above, being able to safely and securely store assets in a simple (even beautiful) way has been a pain point since the early days of crypto. With traditional assets like fiat currency, our current financial system is structured in a way that pushes us to participate in centralized storage – forcing us to hand over full control (or self-custody) of our assets.

The consequences of such a system have been at times grave. Case in point, the financial crisis of 2008 left banks unable to provide consumers with ready access to their funds, requiring a government bailout to keep the broken system afloat. Unfortunately, the crypto space has seen a similar push towards centralized systems of storage and asset exchange, and at times the outcomes have not been pretty.

Mysterious disappearances of digital assets on exchanges like Mt. Gox, Bitfinex, and a multitude of other centralized cryptocurrency exchanges have shown time and time again that entrusting custody with 3rd parties is often ill advised and risky.

If it’s so dangerous, then why are people doing it?

Frankly put, because it’s easy. Instead of needing to manage multiple unique cryptographic private keys and regularly updating software wallets that have confusing user interfaces, it’s easier and less scary to have that done for you. But at what cost?

We saw the challenges people were facing and decided that if we were to truly advocate for financial empowerment, there needed to be a better solution that enables decentralized storage and self-custody. Enter the Ethos Universal Wallet. The capabilities of this mobile-first smart wallet smooth out and simplify the process for you, so that you can maintain control. One wallet, your assets, with you in complete control.

3) The fees are too high!

Whether you are buying crypto or trying to sell crypto to fiat, the fees are plentiful! It’s undeniable. If you’re storing your assets on a centralized exchange that does not offer Crypto-Fiat services, you likely need to pay a fee that exceeds the mining costs to just get your coins off the exchange. If only it stopped there – those fees are quickly followed by additional fees tacked on by the Crypto-Fiat exchange provider, often far exceeding 1% of the total balance being converted to fiat.

A low cost, self-custodied solution has yet to surface in the market. Until now. Through the powerful partnership between Ethos and Voyager, we enable a new era of crypto-fiat trading. We venture to solve the multiple layers of crypto dilemmas, by mitigating losses to conversion fees and all the many concerns over whether or not you will be paid what is rightfully yours when airdrops or forks occur to an asset you own.

Together, Ethos and Voyager bring forth crypto solutions in real terms.

4) It’s a Scam

There is often a gut reaction to assume the worst of things we don’t understand. Most especially when it involves people making or losing money. At Ethos, we understand that our users want to truly feel comfortable and confident navigating the cryptoverse. That’s why we have been working hard to build out a wealth of educational content.

From our video series that can be found here to the coin profiles in the app, we are building out resources to educate newcomers and veterans on the underlying technology, and what different projects in the space are building!

Our coin profiles will soon feature an enhanced rating and review system as well as links to the official websites, social accounts, githubs, and other resources vital to understanding a blockchain project. The Universal Wallet will be a central hub of data, allowing you to develop a deeper understanding of what different blockchain projects are building and how others view those endeavors.

5) Poor to No Customer Support

A common complaint voiced about most industries is the experience of contacting customer support. The crypto space is no exception, and may in fact be known for exceptionally poor customer support. Whether it takes days to hear a response to your inquiry, there’s an inability to provide a solution to the problem or there is simply no response at all, most of us leave feeling uneasy or frustrated.

When you raise a support ticket through Ethos Customer Support, we have customer support reps responding within 10 minutes. We believe that ongoing education and open lines of communication are key to providing a high level customer support experience. Our support reps and community moderators have meetings twice a week, regularly speaking with our Chief Product Officer, head of IT & Security and Marketing Director to stay up to date with the latest developments at Ethos and have all their questions answered. At Ethos, we genuinely pride ourselves on having the best 24/7 customer support team in the industry.

We know that providing security should not stop at building formidable technology. Beyond exceptional management and enthusiastic support reps, a central tenet to our hiring process is identifying people who truly understand. People who understand the technology, our products and the sometimes overwhelming experience of navigating this emerging sector. Because, we’ve all been there. We have sent that transaction and been worried it was lost in the ether, we have forgotten our passwords and we have felt the panic of not hearing back from support.

Through firsthand experience, a strong sense of empathy and human-centered design, our support reps, developers and team as a whole understand the importance of your needs in the New Economy.

Your needs are our needs. As a collective – community members, technologists and creatives – we are Ethos.

We are here for you.



what is an api

What is an API?

what is an api

What is an API?

For a while now we have been talking about Ethos Bedrock, a high-performance Blockchain Financial Services (BFS) platform, which is composed of many APIs on which our flagship application, the Ethos Universal Wallet, is built. You may have found yourself wondering, what is an API? So we put together a brief introduction to what APIs are!

API stands for Application Programming Interface. For many of us the term API may not carry much meaning, but it’s important to understand that well designed APIs can provide strong building blocks on which a developer can create new programs, and serve as powerful software intermediaries for applications to communicate with other applications.

Most of us have experience using applications. In fact, you are likely viewing this article through a web browser. You can see links that you can click and you can scroll through the content. Unlike this type of application interface, an API is an interface designed for developers to more easily create new programs that can then interact with a base of code and microservices.

A common analogy used to describe APIs are Lego building blocks. Each Lego block has bumps and holes that fit together with another piece, and they can be stacked to build unique systems based on the builders end goal. Regardless of the builder, they are using the same pre-existing and functional base components. Similarly, an API allows developers access to those base blocks and the ability to seamless communicate with a number of underlying applications and microservices.

At the base of Bedrock lie an array of microservices. Microservices are services that are oriented around a specific task (i.e., listening for blockchain transactions, sending notifications, generating addresses, etc) that are used in combination to deliver robust features. For instance, the Universal Wallet relies on a multitude of APIs (i.e., xWallet, xTransact, xAlert) and underlying microservices that let a user know when crypto has been successfully transfered to their wallet.

Let’s take a closer look at an Ethos Bedrock service, xTransact, which consists of several APIs: TXN constructor API, TXN Signer API, and TXN Submission API.

  • TXN Constructor API: when a user or institution wishes to transact, they communicate to Bedrock how many of which coin they want sent to a given address – TXN constructor API  prepares the transaction and conducts a fee analysis.
  • TXN Signer API– after the transaction is constructed, TXN Signer API sends the transaction to the user, which is then signed on the device.
  • TXN Submission API – the signed transaction is now broadcast and verified!

Instead of an institution or developer being required to build a custom-developed application, they can now build one that is referencing APIs to incorporate the rich features they seek to deliver without spending precious resources on building from scratch. Additionally, they are able to mitigate risk of errors by referencing battle tested code.

Innovative, elegant and highly-scalable API platforms, like Ethos Bedrock, are crucial to the future development and adoption of blockchain based financial applications and tools by existing and emerging financial service providers. Whether they seek to create a fiat gateway, query price data or provide custody solutions to consumers, Bedrock is the foundation they need to build tomorrow’s consumer and institution facing products and services.



Ethos x Voyager Partnership FAQ

Ethos x Voyager Partnership FAQ

Ethos has formally announced our partnership with Voyager Digital to build a best-in-class Fiat Gateway into our flagship product, the Ethos Universal Wallet. With this, we will offer all users access to exchange functionality utilizing their liquidity network. CEO Shingo Lavine will also be joining Voyager as an advisor, closely supporting this development process. This announcement formalizes the relationship between Voyager and Ethos, and we have considered your most pressing questions. So here are the answers you may be seeking.

How high are fees for crypto to fiat, and vice versa, transactions?
Voyager is a commission-free trading application and is not planning on having any fees for trades and purchases.

When is the Voyager Platform launching?
Currently slated for Q4 2018 and will be released in phases. The launch of Voyager’s integration into Ethos & Universal Wallet is separate, although is happening leading into and post-Voyager’s launch. No official date has been announced for the Ethos x Voyager integration. More announcements will be made upon completion of major milestones.

When will the Fiat Gateway be available?
A lot of work is being done to ensure the integration between Ethos and the Voyager execution platform is seamless. No official date has been announced for the launch of the Fiat Gateway. More announcements will be made upon completion of major milestones.

Which coins will be supported?
The supported coins for trading are currently being finalized. Voyager and Ethos are ensuring that appropriate trade execution and custody solutions are in place for each of the supported coins. Voyager will announce the first list of supported coins when their mobile application launches later this month. This will help determine the coins that Voyager and Ethos support together via the Fiat Gateway.

Why is Voyager interested in Bedrock?
Bedrock enhances the custody offering for Voyager, opening up support of coins that Voyager’s existing custody partners do not support and increases speed to market for new coins. This enhances both the Voyager retail trading application, in addition to the Voyager institutional offering. For both businesses, Ethos and Voyager solve the crypto retail and institutional markets biggest problems – custody and liquidity. Additionally, Voyager aims to honor the self-custody nature of crypto and offer this to their customers who wish to take full ownership of their crypto assets, through the Ethos Universal Wallet and other Bedrock applications.

What is a crypto broker? Is this different from a broker dealer?
A crypto broker is an agent that acts on behalf of crypto investors to execute their order. Though regulation does not require the form of “best execution” for this service, Voyager and Ethos believe strongly that crypto investors have the right to “best execution” and their trades should be processed to seek optimal liquidity, price, speed and reliability. A broker-dealer is a licensed entity that operates as previously described, but requires the license for securities. Voyager executes orders according to many of the standards of a broker-dealer, however does not engage this license as currently supported assets are not deemed securities.

Will Voyager support security tokens in the Future?
Yes, this is on the Voyager roadmap for the future, TBA. This is subject to strict regulatory and technical compliance, and will be executed up to latest compliance standards.

What is the scope of the MVP?
The MVP execution between Voyager and Ethos will be to bring an integrated Fiat Gateway to Ethos users. Voyager will give Ethos users the power to convert fiat currency into the Ethos Token or other crypto assets and these tokens into fiat, all within their wallet, allowing a seamless mechanism to trade through Voyager’s platform.

What features and solutions can be expected from this partnership?
We anticipate a number of exciting features and solutions to come via the partnership between Voyager and Ethos. The goal is to seamlessly integrate Voyager’s trade execution, Ethos’s Universal Wallet and Ethos Bedrock with one another. Perfecting that integration is our primary goal but we are excited to explore features around portfolio optimization, lending, and more.

Will Voyager allow buying and selling of Crypto, includling Crypto to Crypto and Crypto to Fiat trading?
At the official launch of Voyager this year, Voyager will support Fiat to Crypto and Crypto to Fiat trading. Crypto to Crypto transactions are already in our development log and this feature is slated for early 2019. All of these exchange features will be made available to Ethos Universal Wallet users upon completion of the integration.

Will Voyager support bank deposits/withdrawals?
Yes. Bank deposits and withdrawals are supported for US residents.

Which countries will Voyager be available in?
Voyager will only be available to US residents immediately after launch. International expansion is a key goal and priority for Voyager. Voyager will approach international expansion similarly to US market rollout, seeking required money transmitter licensing in markets that are required to support fiat trading.

What are the minimum limits for purchases on Voyager?
The minimum trade and transfer (withdrawal / deposit) amount on Voyager is $10 USD.

Will Voyager require KYC/AML?
Voyager has integrated Know-Your-Customer (KYC) and Anti-Money Laundering (AML) processes as a part of the account opening process. KYC & AML is required to perform the trading applications within the service. This helps ensure the safety of our customers and business in accordance with compliance.

Can you clarify the how Voyager will be integrated into the Ethos Universal Wallet?
As mentioned, Voyager will enable in-app purchases of cryptocurrencies utilizing a best-in-class Fiat Gateway, and crypto to crypto exchanges and trading utilizing the Voyager Smart Router & Liquidity Network system.

Does Voyager plan to support alternate international currencies, other than USD? For example, Euro, Pound, Yen, etc.
USD is currently the only supported fiat currency on the Voyager platform at this moment, however, we will roll out support for other fiat currencies as part of the international expansion plan.

How fast will orders be executed?
The Voyager Smart Order Router has the capacity to execute orders in milliseconds and has real-time access to the order books of exchange partners. As the limits or constraints of an order can vary, Voyager cannot guarantee time execution, however, the Voyager execution system is built to execute market orders instantly.

How long will it take for the crypto I purchase to be made available in my SmartWallet or to be accessible for withdrawal?
Full custody or withdrawal of crypto requires the underlying principal amount to have cleared. Once transfers have cleared, crypto withdrawals will happen in time with respective network speeds.

How long will it take for fiat to transfer to my bank account and be made available?
Fiat transfers will be subject to standard ACH and wire transfer timelines.

What banking information will be stored by Voyager/Ethos?
Voyager stores customer’s bank name, account type, account number, routing number, and most recent account balance. Banking credentials are not stored and deposits and withdrawals are powered by a 3rd party provider.

Can I get a debit card through Voyager?
This feature will not be available at launch with Voyager. Given the payment functionality of the Ethos Wallet and the growing number of outlets that accept crypto in payment transactions, Voyager is exploring possibilities to help account holders access and make use of their crypto assets. This may include debit cards, though this is still to be determined. We will keep the community updated on any product announcements related to debit cards and payments.



Ethos x Voyager – A ground-breaking partnership to power the future of finance.

Ethos x Voyager – A ground-breaking partnership to power the future of finance.

Ethos is excited to have formally announced our partnership with Voyager Digital Holdings Inc. (“Voyager”) to provide a best-in-class Fiat Gateway to our Universal Wallet users. This strategic partnership will bring Crypto-to-Fiat and best execution trading to the Ethos community, while enhancing self-custody and wallet solutions on Voyager’s retail and institutional platforms.

Shingo Lavine (CEO) will be joining the Voyager Advisory Board to oversee the execution of the integration of the partnership, closely supporting the development process.

In the growing New Economy, powerful solutions are needed and demanded by consumers. Together, Ethos and Voyager are ushering in an era of fairer practices that serve the people.

Ethos aims to create a financial ecosystem that is open, safe and fair for everyone. That begins with the Ethos Universal Wallet, a secure, self-custodied mobile wallet where the user is in control of funds at all times.

Voyager will give Ethos users the power to convert fiat currency into the Ethos Token or other crypto assets and these tokens into fiat, all within their wallet, allowing a seamless mechanism to trade through Voyager’s platform. This best-in-class Fiat Gateway, and crypto to crypto exchanges and trading, will utilize Voyager Smart Router & Liquidity Network system.

Stephen Ehrlich, CEO of Voyager, said: “With this transformative partnership in place, we believe we are offering the first end-to- end, fully integrated solution in the crypto asset space.

We are always seeking out products and solutions that enhance the experience for crypto investors and these best-in-class solutions from Ethos are a perfect complement for us, further strengthening our offerings and goal of operating a unique, pure-play, open architecture platform.”

These two solutions providers, working hand-in-hand, will help resolve some of the biggest pain points in crypto. Ethos users will have a safe and seamless method for converting between fiat and cryptocurrency, and Voyager can provide robust wallet solutions across their retail and institutional platforms.

“This partnership creates a true bridge between traditional and institutional finance within the crypto-asset market to create a dynamic and borderless financial ecosystem,” Shingo Lavine said.

Together we are excited to build the future of crypto finance.



Latest Universal Wallet Update Released 1.2.6

Latest Universal Wallet Update Released 1.2.6

Today we have released the latest update to the Universal Wallet – release 1.2.6. For our Android Users, you can now go ahead and update your Universal Wallet. Once you update your wallet, you can log back into your account and be live in the latest version.

For our iOS users, the update has been submitted to the Apple iOS App Store, and will likely take about 7-days to be published and listed, and for you to have access to download the latest version.

If you don’t have the Universal Wallet yet, click here to download yours!

In this article we highlight some of the new coin integrations and performance improvements made to our flagship app.

Dash & Litecoin Now Available in Universal Wallet

It’s official, upon updating your Universal Wallet app in the iOS (Coming Soon) or Android (Now Available) app store, all of our active and new users will immediately have the ability to store, track, send and receive Dash and Litecoin.

We know these two coins have been in high-demand from our community, so we greatly appreciate your patience as we completed our rigorous testing and integration process. Dash & LTC are now fully transactable!

aXpire Update – AXP to AXPR

The ticker for aXpire has been updated from AXP to AXPR, and we now support the latest version of the aXpire Token in the Universal Wallet.

Performance Enhancements

Ethos is on the relentless pursuit to make the Universal Wallet the buttery smoothest and snappiest crypto wallet in the World, with dynamic features and functionalities to enhance the user experience of interacting with crypto.

In this update, we shipped a multitude of performance enhancements. We will be continuing to deploy performance enhancements with every developer sprint. Our beta-testers in product council shared a remarkable improvement in performance, and of course this is just the beginning!

Variety of Bug Fixes

Developer sprints happen every couple weeks, and during this one our developers have squashed 50+ bugs and made improvements to the user experience. None of these bugs were critical nor did they in any way affect the security of the Universal Wallet.

The majority of bugs fixes came with offering users proper notification and a smoother user flow when performing transactions or dealing with errors if transactions don’t get submitted to the blockchain properly, including tracking the full detail of transaction history.

Transactions Made Simpler

We have been honing our design and listening to the community about UI/UX simplification. So we have reduced the number of clicks needed to view the Send or Receive screens by 60%, moving from 5 clicks to just 2.

Sending and Receiving crypto has truly never been so easy. Send some transactions to and from the Universal Wallet and let us know what you think.

A Note on Apple & iOS Release

On average it takes approximately 7-days from the time of publishing the update for Apple to review and approve the update and for it to be sent to all of our users. Unfortunately, there is no way for us to expedite the process, so it’s a matter of time and we appreciate everyone’s patience. We will make the formal announcement across all of our channels when the iOS update is available.

Conclusion

This update and the future updates to come highlight a critical step in our journey to delivering a powerful application that is directly informed by our community, a truly people-powered platform, which we are aggressively improving with our talented team.

As we continue to improve our coin integration process, we will be expediting our integration of more coins into the Universal Wallet and directly asking for community feedback on which tokens you would like to see integrated into the wallet most.

We invite all of our active users to update their Universal Wallet to get access to our latest coin integrations and feature enhancements. If you are new to Ethos or the Universal Wallet, click here to download yours.

Interested in learning about what the devs are working on now?
Check out our Dev Dashboard.

Have questions? Want to join the people-powered movement?

Join the conversation on our Official Ethos Telegram channel!

Also, join the conversation on our Ethos Twitter, Facebook & LinkedIn


Ethos Unveils Bedrock, A Revolutionary Platform Connecting Financial Institutions With the Blockchain

Ethos Unveils Bedrock, A Revolutionary Platform Connecting Financial Institutions With the Blockchain

Ethos, a leading cryptocurrency services provider, is excited to unveil its institutional blockchain solutions platform Ethos Bedrock.

Ethos Bedrock is a sophisticated, high-performance Blockchain Financial Services (BFS) platform. Bedrock was built with the vision of making blockchain and cryptographic protocols as easy and accessible to as internet protocols. Using Bedrock, institutions can safely and securely leverage battle-tested, state-of-the-art digital asset technology, and lay the groundwork for crypto financial services such as custody, liquidity, brokerage and lending.

Ethos’s flagship product, the Universal Wallet, runs completely on Bedrock APIs and is Bedrock’s first reference application. In other words, Bedrock is not a theoretical infrastructure; it is up and running today supporting over 90,000 users worldwide and has performed over 400,000 transactions seamlessly connecting with a variety of blockchain networks.

 

“Nearly every fintech firm views blockchain as the next paradigm shift for digital finance, but the wide array of blockchain and crypto protocols and frameworks have long been complex and inaccessible–until today,” says Ethos Founder & CEO Shingo Lavine. “Bedrock provides the infrastructure for a whole new wave of revolutionary new blockchain-based products and services that will power the digital economy of the future.”

 

Bedrock includes structures that enable institutions to create their own crypto wallets, liquidity and custody services, as well as custom solutions for blockchain integration, alerts, identity and transaction monitoring.

Bedrock uses open peer-reviewed standards such as BIP32, BIP39 and BIP44. These standards enable institutions or their customers to safekeep hundreds of digital assets through Ethos’ SmartKey technology. Bedrock also includes an abstraction layer that offers support for multiple blockchains and custom digital assets.

Bedrock is powered by the ETHOS token which is designed to provide utility and access throughout the Ethos ecosystem. Bedrock business partners may utilize and stake the Ethos token to unlock access to the system, pay for the fees, and receive discounts. A gas mechanism protects the network from resource greedy, malicious or inefficient applications and provides reduced fees, creating a win-win ecosystem that operates efficiently and cost-effectively while delivering benefits to both businesses and consumers.

Bedrock can be licensed under joint venture or custom engineering contracts, and is designed to be customized for industrial-grade scalable and secure financial applications. To contact the Ethos Bedrock BD team, email [email protected] or fill out the Bedrock partner contact form on https://www.ethos.io/bedrock.

Learn more about Ethos Bedrock

Learn More

About Ethos.io PTE LTD
Ethos is a leading cryptocurrency services provider that is building a bridge between the blockchain and existing financial institutions and systems. The Ethos Universal Wallet enables anybody to securely safe-keep their own crypto assets easily, safely and for free. The Universal Wallet is decentralized, with consumers creating and owning their own private SmartKeys that secure personal digital vaults. The Universal Wallet is built on Bedrock, a foundation platform that abstracts and makes blockchains more accessible, secure and compliant for both people and financial institutions. Ethos has built a blockchain dream team of financial and technology executives with experience at companies like Blackrock, Citrix, Deloitte, Freddie Mac, Merrill Lynch, State Street and UBS. Ethos is headquartered in Singapore with a global presence and community across Telegram and Twitter.


Dash & Litecoin Now in Testing for Release to Universal Wallet

Dash & Litecoin Now in Testing for Release to Universal Wallet

Big things have been happening at Ethos and we have some exciting news for our community!

Recently, we announced our Simplex Integration & ShapeShift Partnership, while continuing to build invaluable business relationships with other leading blockchain companies behind the scenes to advance and enhance our ecosystem.

One of the most exciting and highly-anticipated updates, is our new coin integrations coming to the Universal Wallet. In this article we highlight how our coin integration process works, which coins are almost ready to be added and give you direct insight into the progress being made.

Coin Integration – Development, Integration & Progress

Our blockchain developers are now working in two high-performing teams, both building features end-to-end. Team A and Team B are both focused on feature enhancements which are prioritized by applying feedback from the community, with Team B working specifically on new coin integrations.

Prior to onboarding a coin or blockchain to the wallet, it must go through a vetting process. When vetting coins, factors taken into consideration include, but are not limited to: complexity of integration, market cap, quality of the token, liquidity of the network, community demand and size of the community.

Once vetted, Team B gets a new node up and running, wraps the node and integrates the node with Bedrock. Extensive internal testing is undertaken prior to moving forward with beta testing through our Product Council. Following beta testing, the integration is ready to be deployed to Ethos Universal Wallet users globally.

These improvements will support us in streamlining our coin integration process and solidify our position to be the truly universal wallet solution.

The first new coins lined up to make their Universal Wallet debut are Litecoin (LTC) and Dash (DASH)! We are now testing these two coins internally – placing them at 95% completion. Integration is right around the corner, and we are excited to bring the Ethos, Litecoin and Dash communities closer together.

Here’s some more info on the two coins coming soon to Universal Wallet – stay tuned for updates on what’s coming next!


Litecoin (LTC)

Progress: 95% complete - currently undergoing beta testing.

About Litecoin
Litecoin is a peer-to-peer digital currency meant to enable instant, near-zero cost payments to anyone in the world. LTC is an open source, global payment network that is fully decentralized and a fork of Bitcoin Core. LTC seeks to solve many of the technical issues that plague the Bitcoin network and intends to be an alternate store of value to Bitcoin. If Bitcoin is “Digital Gold” then Litecoin is “Digital Silver”.

LTC seeks to activate network upgrades such as the Lightning Network which other coins have adopted in order to increase network throughput and solve scaling issues.


Dash (DASH)

Progress: 95% complete - currently undergoing beta testing.

About Dash
Dash is Digital Cash, aimed at making instant private payments online or in-store using a secure open source platform. Dash uses a self-governing, self-funding protocol with masternodes that drive development growth where participants propose and fund projects directly within the network. Dash has been expanding their payment infrastructure globally.


Want to stay updated on the progress of Coin Integrations?
Check out the Dev Dashboard

Our newly created Dev Dashboard, allows you to see the real-time progress of our coin integrations. It’s updated weekly based on our developer milestones, and allows you to know what’s going on at Ethos behind the scenes.
In the coming weeks, we will be releasing a People-Powered feedback survey to the Ethos community, to hear your input on what coins you would like us to integrate next. Thanks for reading…

Have questions? Want to join the people-powered movement?

Join the conversation on our Official Ethos Telegram channel!

Also, join the conversation on our Ethos Twitter, Facebook & LinkedIn


Coin Swap Shapeshift Ethos Coin Wallet

Ethos Brings Coin Swaps to the Universal Wallet

Ethos Brings Coin Swaps to the Universal Wallet

In recent breaking news, we publicized our exciting partnership with ShapeShift to allow coin swaps in the Universal Wallet. This article explains the new features we will be releasing to our users and how it will all work.

With the launch of the Universal Wallet, we gave our users the ability to store, track, send and receive over 100+ cryptocurrencies. With an entire division of our dev-team purely focused on new token integrations, in the coming weeks and months users will see the addition of the most popular and highly-requested tokens to be fully supported in the wallet.

And now, enabled by our partnership with ShapeShift, all Ethos Universal Wallet Users will be able to Swap between different types of cryptocurrencies, with speed, ease and security without ever leaving your wallet!

Users will always maintain self-custody of their tokens and their private keys, ensuring decentralized control of all tokens during their swaps, without taking on the risk of using centralized exchanges.

With the integration of ShapeShift into Universal Wallet, our users can:

  • Turn your Ethereum into Bitcoin
  • Turn your Bitcoin into Litecoin
  • Essentially, swap any coins for one another supported by both Ethos & ShapeShift
  • All safely and securely within your Universal Wallet with private keys you control

The Benefits of Using Ethos Universal Wallet & ShapeShift for Token Swaps

Convenience – At the click of a button, you can swap a token you currently hold and easily exchange it for another. With Ethos & ShapeShift, you no longer have to send your crypto to a centralized exchange, wait for the deposit, transact one coin, potentially sell into Bitcoin or Ethereum as a trading pair, and wait and process your withdrawal from the exchange. Only then sending it back to your wallet for safe-keeping.

Ease of Use – By using the Universal Wallet, you can easily select the wallet addresses instead of having to deal with writing or pasting public addresses across multiple platforms. If you want to send someone a specific token you don’t have in your wallet, you can do a swap and then scan their QR-code for easy sending.

It’s Safer – Eliminate the risk of being redirected to a phishing site instead of an exchange, sending to the wrong public address when transferring between exchange and your wallet, or being subjected to an exchange hack. No more sleepless nights wondering if your crypto is safe.

How It Will Work – Want to know how you will be able to exchange between cryptocurrencies with Ethos Universal Wallet x ShapeShift? Here is the breakdown.

This is a draft UX design for prototyping purposes, actual UX may vary.

The 5-Easy Steps to our Upcoming Coin Swap Feature

  1. You need cryptocurrency in your Ethos Smartwallet
    • Download the Universal Wallet from the App Store
    • Create your Account
    • Create a SmartWallet
    • Deposit cryptocurrency into your SmartWallet
  2. Tap on the coin within your wallet that you want to exchange and select “Swap”
  3. Choose the coin that you want to receive in exchange
  4. Review the transaction and tap “Confirm Swap”
  5. Authorize your swap transaction using your biometrics/PIN

The Result: A Successful Coin Swap in the Universal Wallet!

You will see the coin that you are swapping leave your wallet, and shortly after the new coin will be added to your SmartWallet. It’s that easy.

In Summary

This is one of many new exciting features that will be coming soon to enhance the Ethos Universal Wallet. Our developers are hard at work programming this exciting new feature, so stay tuned for future announcements when it’s ready for release, and coming to a Universal Wallet app near you.


Ethos Announces Simplex Agreement - Accelerating Phase I of Fiat Gateway

Ethos Announces Simplex Agreement - Accelerating Phase I of Fiat Gateway

Ethos is pleased to announce an integration with Simplex, a global instant fiat purchase service enabling bitcoin and altcoin purchases with credit and debit cards. This integration will mean that Ethos customers will soon have access to liquidity and exchange services between fiat and cryptocurrencies on an international scale.

Ethos aims to create a financial ecosystem that is open, safe and fair for everyone by harnessing the power and autonomy that cryptocurrencies provide. The Ethos Universal Wallet provides a secure, self-custodied mobile wallet where the user is in control of funds at all times. Ethos Universal Wallet gives users the power to store, track, send and receive over 100+ tokens.

This agreement allows Ethos to accelerate the first phase of the fiat gateway and provide Ethos customers with a safe and seamless method for converting between fiat and cryptocurrency.

Paired with the Shapeshift integration, users will be able to gain access to dozens of cryptocurrencies and tokens using fiat.

Image is for prototype mockup purposes only.

“Ethos is excited to offer a wealth of dynamic capabilities to consumers,” says Ethos Founder & CEO Shingo Lavine. “The Universal Wallet will become the most accessible way for people to safely interact with cryptocurrencies using innovative services such as Simplex.”

“As Ethos expands its service offering, Simplex is proud to play a fundamental role in offering seamless, easy conversion between fiat and cryptocurrencies while ensuring transactions are completely fraud-free,” says Nimrod Lehavi, CEO and Co-founder of Simplex. “We are able to achieve this thanks to our advanced machine learning AI algorithms and broad accumulated experience as security experts.”

The Ethos Universal Wallet is available in the iOS & Android app-store worldwide. Download the app: https://www.ethos.io/universal-wallet/

 

About Ethos.io PTE LTD

Ethos is a leading cryptocurrency services provider that is building a bridge between the blockchain and existing financial institutions and systems. The Ethos Universal Wallet enables anybody to securely safe-keep their own crypto assets easily, safely and for free. The Universal Wallet is decentralized, with consumers creating and owning their own private SmartKeys that secure personal digital vaults. The Universal Wallet is built on Bedrock, a foundation platform that abstracts and makes blockchains more accessible, secure and compliant for both people and financial institutions. Ethos has built a blockchain dream team of financial and technology executives with experience at companies like Blackrock, Citrix, Deloitte, Freddie Mac, Merrill Lynch and UBS. Ethos is headquartered in Singapore with a global presence and community. Learn more at ethos.io.

 

About Simplex

Simplex is a fintech company that provides online merchants with fraud-free payment processing. Our goal is to make online commerce safe. Based on advanced AI technology, Simplex’s automated system facilitates processing online payments while assessing risk with maximum speed and accuracy.

Simplex integrates with online crypto exchanges to fulfill the credit card payment process. Hence, Simplex is responsible for risk analysis, processing the payments with the credit card company, and finalizing the transaction. The cryptocurrency is provided by the online exchange. Learn more at Simplex.com.