Get To Know About ZelCore Wallet’s Strategy From The Strategy Head of ZelCore

Anisa Batabyal
| 06 May, 2020 | 2 min

Zelcore, previously known as ZelTreZ, is a multi-asset wallet, which is encrypted with a secure user platform, supports Ethereum, Bitcoin, EOS and ERC20 tokens. It supports Linux, Windows,  MacOS and even mobile devices (iOS and Android). ZelCore supports more than 100+ tokens, allows you to have multiple wallets on the same computer while making sure they don't store any information. ZelCore has recently integrated CoinSwitch exchange service to allow its users to trade coins within the wallet.

About Daniel Keller

An influential figure in Technology, Healthcare, and Blockchain, Daniel Keller has led industry-changing technologies for over twenty years. Throughout his professional career, Daniel has worked with some of the largest Healthcare and Technology companies in the space. With a broad knowledge-base, he now uses his expertise to advise technology startups, non-profits and blockchain based projects to drive change in these developing sectors. Daniel now works with Zel Technologies as Chief Strategy Officer, to ensure they adhere to the strategic vision of blockchain development.

  • So Daniel, one of the major things with cryptocurrency is its huge emphasis on decentralization and having access to your own funds. Isn't it ironic that still, a major chunk of crypto folks still hold their funds on centralized exchanges? Why do you think this happens and what are the major hurdles for adoption in this industry?

We are creatures of habit, and for many years have become form with others maintaining custody and upkeep of our money. This, time and again, has proved to be a bad practice, yet many still use these centralized means of storage. I think the barrier that needs to be broken down is the simplicity of custody. The new paradigm in crypto storage and usage will be ZelCore and other platforms that address this challenge to the end user, providing a more “one-stop shop” to asset custody. Owning, storing, maintaining, trading, and investing will be incorporated into a seamless platform. We think of things in terms of the current investment community, however; we need to think about those that have no access to banking and investment.

ZelCore, in partnership with CoinSwitch, creates a very unique offering to allow users to maintain custody while allowing you to use currency “by choice”.

  • The recent Cryptopia hack is a stark reminder of how important security is and in this context, do you think wallet providers have cracked the problem of security? Are all these crypto wallets with tall claims really secure?

There is a hardline rule in the Crypto Community- If you don't hold your crypto; you don't own your crypto. ZelCore firmly believes that this also means wallets. We have a unique account creation process to ensure that no one other than you has access to your personal funds.

With that comes a challenge; we cannot reset or restore your account. You are 100% accountable to the storage and backup of those assets and this process reduces the surface area for attack. I recommend to the reader to do their homework, look at the wallets and platforms out there, and make a choice based on needs. Keep in mind that when you provide access to private keys, you essentially are giving up ownership of the coin/token.

  • How do I choose between a hardware wallet and a software wallet? What are the fundamental differences and which one do you think is better?

Hardware and Software wallets offer unique solutions and both have positive aspects. Personally, I have both; I like a hardware wallet for long term storage and use ZelCore for normal storage and transactions that provide convenience with a seamless platform for Desktop and Mobile. I think with ZelCore you have the best of both worlds, you have a user-controlled process that is not dependent on third parties to maintain your private keys, and also the simplicity of usability. I recommend all users to get comfortable with both cold and hot wallets like ZelCore ios to ensure they know what works best for their needs.

  • Tell us more about ZelCore wallet and the company behind it. What competitive advantage does ZelCore have in the market?

Zel Technologies, GmbH is at the forefront of developing newly usable blockchain technologies, real working projects (not “Proof of Concepts”). Some of those technologies are changing the way we trade and interact with blockchain assets. From the seamless and easy to use the wallet to decentralized two-factor authentication security feature, we are thinking about the adoption curve, both new and existing user base. Zel Technologies and ZelCash believe in a world where everybody can have access to financial freedom. (ZelCore Wallet Review)

The partnership with CoinSwitch offers a seamless swap function that will allow users to bank in a way that works best for them. It also creates investment opportunities as a user can determine what they would like to HODL and hold custody of in their own wallet.

Zelcore is positioning itself to be a leader in blockchain technology as zelcore review. We believe we are more of a platform than an application. Much like Apple mastered the app store, and keeping users on the platform, we think the seamless and easy to use platform will keep users engaged and growing with us for years to come. In the coming weeks, are announcing a major upgrade to ZelCore that incorporates many features for traders and miners that no other wallet has offered to date (internally we call it “Project Paradigm”).

  • Can you tell us in detail as to how ZelCore wallets keep the user fund safe?

The accounts system for ZelCore is aptly named “Zel ID”. This encompasses the user’s login credentials and private key generation, the ability to set up decentralized 2-factor authentication (d2FA) that can be enabled for login and/or sending funds security via a required PIN, and our Easy Login system that allows quicker logins via biometrics (fingerprint/Face ID) or a user-selectable passphrase.

Account generation is completely up to the user: you choose a *Unique* and *Strong* pair of username and password (this is important! E.g. if you use the same creds as another 3rd party service, and that service loses your account details, your login creds for all services using the username/password combination are up for grabs). Then, local to your device, ZelCore uses a double-hash function with private salts to create a Master private key, and individual asset WIF keys, based on your username and password combination. All hashing functions are performed locally on your device, and no personal information is stored by or transmitted to Zel (stays on the device). This helps ensure that the user is completely in control of their asset custody and this is how to keep the cryptocurrencies safe; the only way to “get hacked” is by a bad actor either guessing your login creds (near impossible if using strong/unique username and password) or capturing them via a keylogger or TeamViewer exploit (which can be said for any account schema).

  • What is the team at ZelCore currently working on? What offering can we expect from the team in the near future?

Zel Technologies is currently developing many different aspects to the platform. You can see more about the ongoing and past development here (Zelcore Github):

In summary, 2019 will see the rollout of our high-availability computational network (ZelNodes) to run future dapps, smart contracts, asset layers, sidechains, etc., our major usability release for ZelCore mentioned above, the creation of our decentralized exchange (ZelEx) running on ZelNodes and natively integrated in ZelCore, and the beginning of our simplified Javascript framework for 3rd party developers to interact with the dapps environment (ZelDev).

Our goal is to be the best in the business, a leader for mass crypto adoption by building an easy-to-use last mile, and pioneer new and emerging opportunities.

About CoinSwitch is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like KuCoin, IDEX, Changelly, Cryptopia, ChangeNow and Changer without creating an account on them. If you are interested in buying cryptos, do give it a try!

Buy Cryptocurrencies in India

Buy Bitcoin in IndiaBuy LTC in India
INR to DogeBuy Bitcoin Cash in India
INR to BCHINR to Basic Attention Token