What is Eidoo (EDO)?
Future of EDO Cryptocurrency and know how to buy EDO

#1 – What is Eidoo?

Eidoo: The Basics

  1. Eidoo is a multi-currency wallet described as a “blockchain asset experience”. It has some pathbreaking features like a hierarchical deterministic support system and a full-fledged cryptocurrency exchange.
  2. The aim of the team behind Eidoo is to make managing blockchain-based digital assets easier for all users. The wallet only focuses on Ethereum and tokens on its blockchain as of August 2018, but a Bitcoin wallet is scheduled to launch soon.
  3. It is meant to enable an extremely user-friendly experience, with a “blockchain-to-human” interface and many features making it intuitive, easy and consistent without compromising on safety and all the other advantages of the blockchain technology.

Eidoo Development

  1. The Eidoo website lists a team of over 25 members including the core management, UX designers and developers.
  2. Founder Natale M. Ferrara has nearly 5 years of experience as CEO of various companies. Prior to Eidoo, he was the CEO of companies like Koros Security Digital Vpn and Blockchain, the CFO of Digital Identity SA. He also co-founded several companies including Sgame pro and ICO Race.
  3. Co-founder and CTO Marco Polci is a blockchain expert with nearly 2 decades of experience as a software developer. He has advised various blockchain-based ventures like Edgeless, WINGS Stiftung and TokenMarket, and was also the CTO of Digital Identity SA.
  4. Eidoo’s Director Thomas Bertani has 8+ years of experience in software development and management. Before joining Eidoo as its director, he was the Founder and CEO of Italian cash-bitcoin marketplace Bitboat Ltd. He also founded Oraclize, and is the CEO of the consultancy firm.
  5. Other members of the team include CMO Amelia Tomasicchio, CFO Luca Tamarindi, Art Director Filippo Grasselli and more.

 

#2 – What are the advantages of Eidoo?

Eidoo Features

  1. HD Support: Eidoo supports hierarchical deterministic structures, enabling users to create sub-wallets while keeping their main wallet address private.
  2. Easy Management: The wallet is user-friendly, and users can easily read QR codes, send and receive digital currencies, etc.
  3. Contact lists and transaction history: All your Ethereum addresses are stored in a standardized way, and all your transactions can be viewed at a single place.
  4. Eidoo Exchange: Eidoo has a built-in hybrid exchange where users can trade between ERC20 and ETH assets at low fees.
  5. Private Keys managed by users: Users are solely in charge of managing their own private keys, which are not held by Eidoo, i.e., the keys are completely decentralized.
  6. Storage of Ethereum and ERC20 tokens: Eidoo is capable of storing Ether as well as other tokens on the Ethereum blockchain.

Eidoo Technology

  1. Eidoo is set to cover two ambitious and completely different fields in a comprehensive and effective way. Its vision of a user-friendly and secure wallet for blockchain-based “smart” digital assets are embodied in
    1. A fast, disruptive, flexible, simple turn-key Ethereum implementation based on ERC20 standards and EVM smart contracts with an embedded token system to fund its development, and
    2. A secure, scalable, long-term, privacy-focused Bitcoin implementation based on the RGB asset protocol and off-chain computing with traditional non-profit open-source funding.
  2. Eidoo aims to have an Ethereum light client on mobile devices in the future, and it currently (as of August 2018) uses a compromise built with servers to index blockchain data, from which the client on a user device obtains information related to it. Optionally, the user can use an Ethereum node of trust to check the information obtained.
  3. As a safety measure, the Eidoo Ethereum Wallet implements an index which groups tokens issued by companies with legal personalities or legitimate tokens. Tokens having the same names/abbreviations/symbols as those in this special index will be labelled as untrusted, which will serve to avoid scams or phishing attacks, or even innocent but harmful misunderstandings.
  4. The Eidoo Bitcoin Wallet will be able to manage assets on the Bitcoin blockchain in a secure way which is easy for users to understand. The wallet is capable of generating deterministic key pairs of 12 or 24 words, making it more secure than a passphrase.

 

#3 – How to buy and store Eidoo tokens (EDO)?

How to buy EDO

Eidoo tokens (EDO) are available for trade in 7 crypto exchanges, where you can buy the tokens for various other cryptocurrencies. The exchanges include Binance, HitBTC, Ethfinex, ForkDelta, OKEx, Idex and ZB. Most of these exchanges accept BTC, ETH or both, and ZB accepts USDT and QC in addition to ETH.

There are a few exchanges which also accept fiat currency in exchange for the EDO tokens, which include Ethfinex and HitBTC, both of which accept US Dollars.

  1. These are just platforms where you can trade EDO tokens, but prices tend to be slightly different for each cryptocurrency. This is where CoinSwitch, one of the best cryptocurrency exchanges comes in. It helps you choose which exchange to buy from, by displaying the prices at the exchanges it’s sold in, all at one place. It supports more than 140 coins and 45,000 pairs of cryptocurrencies. You can choose any pair you want with your EDO token, and CoinSwitch will facilitate the comparison between exchanges.
  2. What’s more - with CoinSwitch, you need not rely on wallets on the exchange you’re buying from. Instead, all transactions can happen to and from your very own private wallets.

EDO Storage

  1. Eidoo is on the Ethereum blockchain, so the EDO token can be stored in any of the numerous wallets compatible with Ethereum.
  2. Hardware wallets are the most secure, and Ledger Nano S as well as Trezor work for ERC20 tokens.
  3. Exodus and Mist are desktop wallets which store Ethereum and tokens on its blockchain. Both of them are compatible with Windows, Linux and Mac operating systems.
  4. Jaxx, another Ethereum wallet, functions as a desktop wallet for Windows, Linux and Mac PCs, a mobile wallet for Android and iOS phones, as well as a web wallet through Chrome and Firefox extensions, making it one of the most versatile wallets around.
  5. MyEtherWallet is its most popular Web wallet, and ETHAdress is one of the paper wallets storing ERC20 tokens.

 

#4 – What is the future of Eidoo?

 

Market Cap and Global Acceptance

  • The Eidoo token sale was conducted in October 2017, with 20 million EDO tokens available for sale and a fundraising goal of 51.7 million USD.
  • The total supply of Eidoo tokens is 100 million EDO, which are distributed as follows:
    1. 20 million tokens were allocated for the ICO
    2. 5 million tokens were sold in a pre-sale
    3. 12 million went to the early investors
    4. 3 million were reserved for the advisors of Eidoo
    5. 13 million tokens were given to the founding team, and
    6. The remaining 47 million were reserved for Eidoo’s development.

The circulating supply of the Eidoo tokens is about 29.26 million EDO as of July 2018. It has a market cap of about $22.35 million USD and a value of about $0.76 USD per EDO token.

Also Read:Complete Analysis of Eidoo | Live Eidoo (EDO) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Aug 06, 2018

0.780099

0.794466

0.751111

0.755601

1,66,721

2,28,26,846

Aug 01, 2018

0.814307

0.814307

0.795908

0.806105

5,80,558

2,38,27,812

Jul 01, 2018

0.958292

0.9963

0.933805

0.946737

18,63,270

2,80,41,024

Jun 01, 2018

1.52

1.53

1.47

1.51

53,26,430

4,43,79,416

May 01, 2018

2.72

2.75

2.56

2.71

1,00,36,200

7,96,55,768

Apr 01, 2018

1.6

1.65

1.42

1.51

59,99,670

4,69,05,436

Mar 01, 2018

2.6

2.68

2.59

2.61

16,71,520

7,61,30,904

Feb 01, 2018

2.77

2.78

2.09

2.29

29,13,130

8,10,53,416

Jan 01, 2018

3.78

4.2

3.55

4.14

76,19,580

8,54,98,432

Dec 01, 2017

2.21

2.22

2.06

2.13

8,91,157

2,36,20,034

Nov 01, 2017

2.24

2.25

1.68

1.96

21,81,040

2,39,71,722

Oct 17, 2017

2.09

2.52

2.06

2.38

39,128

2,24,21,360

Trends so far

  1. For a token which is not even a year old as of July 2018, Eidoo has had quite a few ups and downs, with values ranging from a minimum of about $ 0.755 in the beginning of August 2018 to a maximum of $6.63 in January 2018. Its value was $2.38 at the time of its launch in October 2017 and its current price is at $0.76 as of August 2018.
  2. Eidoo stands among the first 250 cryptocurrencies worldwide in terms of market cap, which is impressive considering it is not even a year old. As of August 2018, it holds the 236th position in global market cap rankings.
  3. The relatively high rank of Eidoo among cryptocurrencies worldwide is pretty encouraging, especially considering that the idea behind the platform, of a wallet cum exchange capable of such a variety of applications, is a nifty one with a promising future.

 

#5 – What makes Eidoo different from other cryptocurrencies?

  1. The sheer versatility of Eidoo makes it truly stand out among its counterparts. It’s a multi-currency wallet which doubles as an exchange platform for crypto assets. Its ultimate goal is to create a fully decentralized blockchain-based marketplace in the future.
  2. Even being such a versatile platform, the Eidoo team promises that none of the original advantages of cryptocurrencies like decentralization and state-of-the-art security will be compromised. This is an advantage which sets it apart from other cryptocurrencies.

 

#6 – Should you invest in EDO?

  1. The fact that Eidoo has risen among the ranks to one of the first 250 within the span of a year, makes it attractive to many investors.
  2. Moreover, the idea of a comprehensive, versatile wallet compatible with all popular cryptocurrencies which also behaves as an exchange when required, is an innovative one. Eidoo seems to combine as many applications of cryptocurrencies as possible under one single application, and the fact that it’s already in implementation definitely speaks in favour of the cryptocurrency.
  3. Its website is self-explanatory, showing details about their team members, and it also has an updated roadmap, which shows that the team is serious and development is going to continue, indicating a possibility of excellent long-term returns.
  4. The individual price of Eidoo tokens is affordable enough that investing in the cryptocurrency will not deprive you of your savings.
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