Ethos 2.0 Launches For Client Protection and Decentralization

InfoNesia.xyz – Singapore-based blockchain solution, Ethos, is relaunching as “Ethos 2.0” to restore the platform’s core structure, that offers users decentralization, customer protection, and transparency.

Introducing Ethos 2.0

Ethos, a leading cryptocurrency services provider that bridges multiple blockchain protocols and financial institutions and systems, has announced a rebranding of its platform to Ethos 2.0 to bring an alternative to centralization in the crypto industry and a simple entry point into crypto.

According to the report, the new platform will echo the original value proposition of ethos and deliver on the promise of Voyager Digital Assets by building the company “the right way.”

In February 2019, crypto brokerage firm Voyager agreed to buy Ethos for about $4 million. The partnership would give Voyager a range of products, including the Ethos Universal Wallet and the blockchain platform Ethos Bedrock, plus “certain blockchain technology and IP.” Voyager recently filed for bankruptcy after it sustained heavy losses from its exposure to the crypto hedge fund Three Arrows Capital, which was liquidated after defaulting on several loans.

Ethos 2.0 will offer users a customizable account on a centralized exchange that provides complete control and ownership of their funds without relying on third parties for control and security. In addition, Ethos will help novice DeFi users that may be discouraged by the complexity of some DeFi apps or the difficulty of transitioning to self-custody solutions.

Thanks to the rebranding, Ethos will provide a wide range of products to users of the network to facilitate a seamless self-custodial solution for everyone, regardless of experience in the DeFi sector. Using a secure key backup solution called the Magic Keys’, which lets users recover their lost keys, Ethos will allow users to explore self-custody without compromise.

The Ethos Magic Keys

The platform noted, “The service features enterprise-grade key encryption, sharding, and backup services. Moreover, it focuses on helping users explore self-custody without compromise. The experience will be fun and engaging and will reward ecosystem participants.”

Essentially, users are free to create their own keys when they want to trade on the platform. Then, in the event that a user loses his keys, they can upload the encrypted version, answer some security questions, and complete two-factor authentication.

Once that is completed, the network automatically initiates the third shard to restore the keys. The customer remains in control of their accounts at all times because Ethos cannot access the user’s funds or keys without their permission.

Users will enjoy features like the Ethos Vault, a self-custody crypto vault that allows users to keep their coins safe using security measures, including 2FA and social guardian technology. Other exciting features include live trading features, excellent price execution, rewards, and staking opportunities.