What Is Ethos?

Ethos is a people-powered cryptocurrency services company. Their mission is to make the daunting cryptocurrency market accessible to everyone and accelerate safe adoption of blockchain technology for consumers and financial institutions.

what is ethos

The Ethos platform is an ecosystem that provides the tools to manage wallets and keys for safe, verified blockchain transactions. Ethos is dedicated to providing consumers, developers and businesses a unified wallet and API solution to power the financial applications of the future.

Ethos is dedicated to enabling a safe and secure ecosystem for consumers, financial institutions and governments who wish to operate on the blockchain.

Smart Keys are built by combining the best of the BIP32, BIP39, BIP44 and SLIP44 standards. A single 256-bit “root” key can be used to derive any coin that supports these standards. In addition, Smart Keys enable multiple account types spanning individual, joint and custodial – all from the root key.

Ethos is designing the entire platform to run on APIs for both scalability and security reasons. Some will be internal, and some will be accessible externally such as data signals and Predictions.

Solutions

The Ethos Platform

There are hundreds, if not thousands, of different wallets out there for all of the different digital assets, and managing multiple wallets for each of your currencies is difficult. They are creating a platform that will provide a powerful single point of interaction with the new economy while also building a dynamic bridge to the old economy to ensure nobody is left behind.

what is ethos

This next generation digital wallet will be the backbone for Their asset management and investment services platform. The Universal Wallet will allow us to aggregate people and transactions together in dynamic ways in order to increase liquidity and keep costs down for consumers.

This infrastructure also allows us to create a universal mobile payment system for users who wish to transact in any currency, instantly breaking down barriers towards mass adoption in the industry. In this section They will outline the pieces of the Ethos Platform that will make it the most user-friendly way of storing, buying and sharing cryptocurrency on the market.

The Ethos platform has three main components:

Ethos Universal Wallet This includes a decentralized wallet management system allowing for the easy transfer of value anywhere in the world. The Ethos Universal Wallet links seamlessly with the fiat and diversification layer.

Fiat and Diversification This system includes a unique legal structure with a fiat/ diversification system whose capabilities are amplified by the Ethos liquidity network tokens.

Social and Community The Ethos platform seeks to connect novices and experts and reward those who help to educate others. The platform will be a fun and friendly place to learn and begin interacting with cryptocurrencies within dynamic public and private clusters, building on the strong existing Ethos community.

Getting Started With Ethos

Financial Freedom, Simplified. Introducing the Ethos SmartKey.

Generate once, let it take care of the rest. Safely and securely. A single 256-bit seed, 24-word mnemonic provides master encryption for all of the private keys in each wallet you create. Security forever.

Shake, shake, shake it out. Ethos SmartKeys leverage user feedback and accelerometers to ensure your SmartKey is one of a kind and ultra secure. Who said state-of-the-art security can’t be fun?

Multiple assets. One SmartKey. Ethos SmartKeys allow you to safely access multiple digital assets without all the hassle. SmartKeys are hierarchically deterministic, which means they derive all your wallets from a single seed. Pretty cool!

Ethos Universal Wallet brings it all together, and then some. We’re starting with digital assets, but we’re building a hybrid ecosystem that brings together digital and traditional assets in powerful new ways. A complete view of your financial future.

SmartWallet - Not just any wallet. Ethos Universal Wallet provides one of the best mobile-first, hot wallets to safely and securely interface with multiple assets on multiple blockchains. Truly a wallet to rule them all.

what is ethos

ColdWallet (coming soon) - Offline for maximum security. Generate a SmartKey and watch your balance. Enter your mnemonic when you want to transact, but don’t expose it to the elements. Ice cold. Fully integrated.

WatchFolio - It’s a portfolio tracker. Add info for digital assets you have stored somewhere else, add coins to your watchlist, or even create fantasy portfolios. your call. With WatchFolio, you can bring it all together in one place.

Coins - Data-rich learning. Investing in the future can be a challenge. With Coins, you’ll have access to a powerful coin profiles that combine raw data, key facts, social intelligence – with technicals, market performance, ratings and more.

Cryptocurrencies, such as Bitcoin and Ethereum, bring unique benefits to the world of personal finance by pairing the ability to own and store your digital assets, with the ability to cheaply, securely and almost instantly transfer them to others.

A blockchain, simply put, is an open record keeping system that’s maintained by a peer-to-peer network where everyone has access to read and potentially write data. Because of the open nature of blockchain, it’s absolutely necessary that all the data on the chain is verifiable as authentic and can’t be manipulated after the fact. To guarantee that all of Their transactions are authentic, we turn to cryptography which gives us the ability to generate digital signatures and fingerprints.

The Ethos Smart Key is a unique digital signature that is used to verify the authenticity of transactions originating from your wallet. Any time a digital asset is transferred out of your Ethos Universal Wallet, your Smart Keys will provide the authorization needed to execute the transaction. Ethos Keys are “Smart” because your one key represents all of your funds, regardless of what form of cryptocurrency you are using. This allows you to backup and restore all of your wallets with a single key phrase.

How safe is it?

Ethos leverages well-tested cryptographic standards and methods to ensure that your Universal Wallet uses an extremely high degree of security. The passphrase is 24 words (vs the 12 word standard used in many wallets) and the keys themselves are 256 bit, meaning uncrackable.

As discussed in the next few sections, the bulk of the security offered by the Ethos Universal Wallet and Smart Keys comes from modern cryptographic techniques, such as public-key and elliptic-curve cryptography, and their ability to generate secure and verifiable digital signatures and fingerprints. Let’s first consider some background to fully understand the mathematical magnitude of the protection.

Ciphers, Hashes, and Digital Fingerprints

The concept of a cipher is fundamental to cryptography. The roots of cryptographic hashing go back to 50 BC, during the reign of Julius Caesar and the Roman Empire. At that time, the official means of communication was a courier service that was highly vulnerable to espionage and interception. To throw off their enemies, the emperor and his consul would communicate by scrambling the letters of their messages before sending them. Upon receipt of a message, the letters would have to be unscrambled to reveal the original message.

what is ethos

One method of doing this was to shift every letter over by one, so that every instance of the letter ‘a’ would be replaced by ‘b’, ‘b’ would be replaced by ‘c’, and so on. This now commonly referred to as a Caesar Cipher, or a Shift Cipher, because the method to conceal the message is simply shifting each letter over one.

In this case the message ‘hello’ would become ‘ifmmp’ and the courier tasked with delivering it would ideally not be aware of the method used to scramble the message. Anyone who intercepted this message would also not know what to make of the seemingly nonsensical message. The “key” in this example is the method of encoding the message.

Over the next two thousand years, this idea of a cipher was further developed into that of a cryptographic hash, which in simple terms is a more sophisticated way of scrambling a message so that it’s very difficult to reverse. Hashes also have the property of, given some data, being able to reliably create a unique digital fingerprint of that data.

Everytime you submit a transaction to the blockchain, a fingerprint of your transaction is created and used to link the blocks in the blockchain, ensuring that the data in each block hasn’t been manipulated. For example, if you spend one bitcoin and someone tries to go back and manipulate the record to say you spent 10 bitcoin, it would invalidate all of the fingerprints in the blockchain leading back to that transaction.

Digital Signatures - Public Key Cryptography

Equally fundamental to the field of modern cryptography is the concept of Public Key Cryptography. In Public Key Cryptography there is the notion of a shared public-key that can be used by anyone to encrypt a message; then only you, with the corresponding private-key can decrypt to read the original message.

One of the most important properties of Public Key Cryptography is that, given a key-pair, its possible to generate a signature, digital proof of ownership of addresses that derive from your key. So whenever you send a transaction to the blockchain, it includes a signature proving that you are the owner of that address and therefore authorized to make that transaction. If the signature doesn’t match the public wallet address, the transaction is deemed to be unauthorized and is rejected by the network.

Elliptic Curve Cryptography

Elliptic Curve Cryptography is a type of Public Key Cryptography that makes private and public key generation even more secure due to the mathematical properties of elliptic curves that make it extremely difficult to reverse engineer the private key from the public keys.

Ethos Smart Keys are created from a cryptographically random number known as a seed. Sometimes seeds are created by a random number generator. However, this isn’t 100 percent secure because sometimes a hacker can re-generate a random number by knowing when it was generated and using a timestamp.

To ensure a higher degree of randomness, you generate your seed with a combination of a random number and another random number created by shaking your phone the first time you open the app. The unique signal from this process ensures that no one will be able to guess a non-random seed like your birthday, phone number, or a timestamp.

This seed is then used to generate private and public key-pairs on a secp256k1 Elliptic Curve, the results of which are hashed several times and encoded to reveal your public wallet addresses. By creating your Smart Keys this way, you can safely share your public keys and rest assured that only you have access to spend the funds in those wallets with your private key.

what is ethos

How To Get An Ethos Wallet?

Ethos Token

The token ticker for Ethos is ETHOS. Some places you may see the token referred to by its previous ticker BQX. BQX and ETHOS are the same token and there is nothing you need to do if you own a token referenced by either ticker.

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 very low cost to create a safe, secure and verified way for anybody to participate in the new economy.

ETHOS offers the consumers, businesses and developers several benefits, including:

ETHOS is available to US and Singapore participants through reputable Exchanges. Ethos does not endorse or support any particular Exchange. Binance, Coinexchange, HitBTC, EtherDelta and Coinspot. Please note that Ethos does not recommend or endorse any exchanges and assumes no responsibility with respect to those services.

If your tokens don’t appear automatically then do the following:

Look for “add token” in your wallet

You can enter the contract address: 0x5af2be193a6abca9c8817001f45744777db30756

The Token Ticker: ETHOS

And the decimal number: 8

And you should be able to see your tokens.

ETHOS is not a security, or Tokenized Security, because it does not meet the legal definition of a security applicable in the United States, Canada, Singapore, United Kingdom or any other OECD jurisdiction. In the United States, this is more commonly referred to the “Howey Test”

Howey Test

The “Howey Test” is a test created by the Supreme Court for determining whether certain transactions qualify as “investment contracts.” If so, then under the Securities Act of 1933 and the Securities Exchange Act of 1934, those transactions are considered securities and therefore subject to certain disclosure and registration requirements. A security is found to exist when all 4 of these elements exist, 1) investment of money 2) in a common enterprise 3) with an expectation of profits 4) from the efforts of others. Although Their Token Sale involved an investment of money, none of the three remaining elements were applicable.

Ethos Resources

How To Buy Ethos?

Buy Ethos (BQX) on Binance

Ethos created a platform that could provides a single point of interaction with the new economy. This Digital Wallet is the backbone for Ethos ‘s asset management and cryptocurrency services platform.

Step 1: Create an account on Binance

The first step in the process is to create your Binance account. The process is very simple. You are only required to provide your valid email address and a password. Make sure that you provide a strong password when creating your account, since this is a place where you will be keeping your funds. You can also provide a referral id.

Step 2: Activate your Account

Once you finish with the first step, an email will be sent to you from Binance to activate your account. Open your email client and click on the activation link. If you can’t find the activation email from Binance then check your spam folder or request Binance to send another activation email.

Please note that they may ask you for some verification documents such as national id, driving license and/or passport.

Step 3: Log in to your Account

Go back to Binance website and log in to your account with the credential you provided in the previous step. Although it is not mandatory, the first thing that I would personally do is to set up a Two-factor Authentication in order to strengthen the security of the account.

Step 4: Transfer Funds to your Binance wallet

In Binance you buy Ethos (BQX) tokens only by using Ethereum or Bitcoin. Therefore, you will need to transfer some Ethereum or Bitcoin to you Binancewallet. In case, you do not have any Bitcoin on Ethereum, then you can buy some using fiat currency at Coinbase or your preferred exchange. If you don’t know how to do that, then you can just follow one of Their step-by-step guides on how to buy Ethereum or Bitcoin.

In order to deposit your funds, tap on the Funds tab on the top navigation bar. Then click Deposit Withdrawals and from the list below find either the Ethereum or Bitcoin wallet, depending on what you want to deposit. Select the wallet address provided and use it in the exchange or wallet you have your funds and send them in Binance.

Step 5: Buy Ethos (BQX) tokens

Congratulations, you are ready to buy some Ethos (BQX) tokens. Tap on the Exchange tab and then Basic on the top navigation bar. On the top right of the exchange select BTC (Bitcoin) or ETH (Ethereum) and search for BQX/ETH or BQX/BTC.

This will open the trading view of the pair you want to exchange. Go and find the Buy/Sell section of the page and place your Buy order. Here you go, you have your first Ethos (BQX) tokens.

Latest Ethos News

Ethos Dev Update + Genesis Build Demo

Hey Ethos Fam!

KDP here to announce three major updates to get you excited for the Universal Wallet launch.

You asked and we listened. We want to unveil all the hard work we have been doing and create a system to keep you informed of Their progress every step of the way.

1. Preview of the Universal Wallet Genesis Build

Today we gathered some of Their rockstar engineers and a few members of the leadership team to shoot a demo of the genesis build! Light hearted and panel style, we took a deep breath to look up from Their computers, reflect on the journey thus far and share Their progress with you all. I hope you gain insight from the diverse perspectives that helped shaped the app and learn about some of the core Universal Wallet features.

2. The Path from Release Candidate to Global Launch

What next?

We are hard at work to get the wallet in your hands as quickly as possible. As you can see, we are really close, but it needs a little bit more polish. We are at the last part of the development cycle for the Universal Wallet!

What does that mean?

Well, here’s exactly what we’re working on:

Scalability

Optimizing Their databases, services, caching and queries so that we can accommodate a global user base.

Security

Testing, code reviews, penetration tests, and hardening the technology stack. We cannot confidently release a product like this without extensive and exhaustive security and external audits.

what is ethos

Internationalization

Building the app infrastructure to easily support multiple languages from day one. People have signed up for Universal Wallet from literally all over the world – we want to make it available to everyone in their first language as quickly as possible.

Push Notifications

Event listeners integrated with push notifications to keep you informed of all your blockchain transactions.

Data Integrity

Sniffing out and eliminating data quality issues and data inconsistencies.

Biometric/PIN Authentication

Enabling native biometric authentication layered with a PIN to add an additional layer of security and encryption to protect you.

Design Polish

Checking every pixel to give you the easy and beautiful aesthetic experience that you deserve.

Coin Coverage

Expanding the supported coins within the app to make it truly universal.

Now that we have unveiled the Genesis build we are no longer holding back! We are happy to send you frequent GIF updates on the small wins we make every day as we progress towards launch.

3. The Ethos Trello Board

All of the tasks above, including coin integrations, feature enhancements, partnerships, airdrop updates, and release milestones are available on Their Ethos Trello Board. We hope to answer many of your questions by increasing the transparency. The Board will be a great way for us to communicate updates and gather your feedback.

what is ethos

Sit tight, get excited! Every member on the team is right there with you, counting down the days until we can delete all other wallet apps and watchlists and use the Universal Wallet. We appreciate your support and encouragement to help push us across the finish line!

With much aloha,

KDP