In this post, I review ETHOS and talk about the growth it could have in the following months!
Intro:
Ethos’s mission is to make the cryptocurrency market accessible and trustworthy to the average user.
Below is a table summarizing all important data:
According to the whitepaper [1], ETHOS wants to be/provide:
A universal wallet that allows you to safely store, manage, leverage and further monetize your crypto assets in one place while maintaining complete control of your private keys.
An ecosystem that helps build your financial knowledge and wealth.
Scalable and compliant API services to empower businesses, developers and entrepreneurs to build their own powerful crypto services and product offerings.
Data feeds to syndicate information about cryptocurrencies and markets.
Of all the above things, two are particularly outstanding and solving the really big problems in the crypto world. The first is a universal wallet and other monitoring and reporting of profit and tax.
KEY FEATURES:
The Universal Wallet
The Ethos Universal Wallet makes it easy and safe to store and transfer value of any form – anywhere, anytime, anyplace, instantly – for free.
Comparing the Ethos Wallet to other choices out there [3]
Tax-Friendly Reports
Paying taxes is inevitable. Ethos develops a tool to facilitate user activity tracking and tax reporting. I believe that in the future this will be an extremely important option.
Ethos has partnered with Taxfyle to offer crypto investors the first viable tax preparation alternative for supporting the crypto community with access to responsible tax preparation and filing. Ethos is developing a dynamic Multi-Sided Investment Platform and Global Ecosystem. This partnership will allow crypto investors access to high-quality tax preparation and professionals without having to pay the inflated fees associated with traditional professional accounting firms. [2]
The Ethos Token
ETHOS is the “fuel” that powers the Ethos Ecosystem. Any developer can build applications that leverage Ethos wallets, keys or data in Bedrock and pay for micro-service API utilization through the ETHOS Token.
Additionally, ETHOS tokens reduce the cost for consumers, businesses, and developers and enabling micropayments at a very low cost to create a safe, secure and verified way for anybody to participate in the new economy. [4]
In short ETHOS Tokens will: [5]
-Be the payment mechanism for accessing and using services on the Ethos platform
-Pay for transaction fees and API calls
-Enable liquidity to help with changes in user asset allocations
However, ETHOS Tokens will NOT:
-Pay dividends or profits of any kind
-Enable holders to vote on company matters, or
-Control the company in any way [5]
Ethos team
In my opinion Ethos has very strong team. The team is active on social networks.
PROS
- Active on social networks
- Solves big problems
- Strong team
- Have partners
CONS
- There is no roadmap
Sources:
[1] http://www.ethos.io/Ethos_Whitepaper.pdf
[2] https://www.ethos.io/2018/02/02/ethos-partnering-with-1-on-demandtax-prep-company-taxfyle/
[3] https://www.ethos.io/
[4] https://www.ethos.io/faq/
[5] https://www.ethos.io/token/
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