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Coin Reviews

What is Ethos (ETHOS)? | A Quick Explainer

By January 30, 2018 One Comment

What is Ethos?

Ethos is a mobile and web app platform currently in development, aiming to significantly improve the current cryptocurrency exchange system.

Features

  • Ethos will facilitate Fiat to Crypto purchases, have a universal wallet, diversified allocation baskets and social prediction platform
  • The universal wallet, unlike CoinSpot, will allow the user to control their private keys, allowing send and receive functions for all cryptocurrencies listed on the platform
  • The universal wallet will be specifically built for usability on both web and mobile, increasing the market penetration significantly
  • The diversified allocation is an important feature, as it will create baskets of indexed cryptocurrency, allowing fast investments across multiple cryptocurrency classes, reducing overall risk
  • Baskets will be pre-set, for example as ‘Big Cap Coins’, ‘ICO’s, or ‘Privacy Coins’. Baskets however will be completely customizable, allowing the user to adjust the percentage allocation.
  • The social prediction platform will be a powerful feature of Ethos by incentivizing users to predict future prices of cryptocurrencies. Successful predictions are rewarded in reputation points.
  • Users can provide educational advice and expert opinion, and are rated based on successful performance. ‘Ethos experts’ portfolios can be mimicked by users of the platform.

The Token

  • The Ethos token (ETHOS ticker) is an ERC20 Ethereum standard, and has a circulating supply of 75.16M token, and a total supply of 222M tokens.
  • The circulating supply of ETHOS tokens will only ever increase by an additional 30% (66.7M), as the remaining 40% is used as liquidity layer facilitating instant transactions on the platform.
  • The value proposition for token value is increase is;
    • Required for accessing services on Ethos platform
    • Pay for transaction fees and API calls
    • Liquidity layer
    • Pay rewards to users for successful predictions
    • Ethos ‘bedrock’, an ecosystem in development, allowing financial services to be built on top of the Ethos platform

Summary

Ethos aims to be a platform and ecosystem to improve the purchase, interaction and management of cryptocurrency investment. The documentation, interface and features indicates Ethos is likely targeting financial institutions as major adopters, in addition to ‘mainstream’ or regular users.

Beau is the Founder & Chief Editor at Cryptocurrency Australia Media, an educational platform designed to help anyone learn about cryptocurrency investment and blockchain technology. Beau is also the Founder & Principal Consultant of Blockchain Management Solutions, a specialist technical and project management consultancy, is an advisor with Masternode Ventures, a blockchain incubator, and is an advisor with THORChain, a new decentralized exchange protocol.