Review on Ethos by Alex Martakov

Name: Ethos
Item: Ethos
Rating: 5

March 19, 2019

The possibility of verification and tax reporting allow Ethos to operate in…

The possibility of verification and tax reporting allow Ethos to operate in the legal sector of the economy, which significantly increases its potential for further development. This factor increases the attractiveness of the project not only at the user level, but also among large organizations and structures.  Taking into account these factors, each novice user can successfully invest, gradually getting involved in the process and adopting the experience. Such a mechanism increases the financial literacy of participants and, accordingly, their well – being.
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Pros

As a result, the Ethos project develops taking into account the following distinctive features: - universal multi-functional wallet that provides secure storage of all keys to other cryptocurrencies; - platform and wallet security-supports cold storage offline; - speed of data processing - all processes receive instant confirmation, which allows you to make transfers, exchanges and payments quickly under any conditions; - the Ethos platform uses a variety of account IDs to send funds to a mobile phone, email or other means of identification; - one-click storage diversification - introduced Fiat money can be instantly transferred to several cryptocurrencies, the investment - ---- rating of which will provide the greatest benefit; - the functionality of the mechanism of the "wisdom of crowds" - by analogy with the Augur in Ethos, the possibility to leave your - ---- predictions and get rewarded for their success, on the basis of these predictions and rankings for investment; - social network – Ethos provides opportunities for communication, information exchange, voting and competitions, which allows the project to be used for the analysis of certain events or trends; - it provides for the possibility of tax reporting-export of activity, allowing to legalize activities within the framework of digital technologies; - simplicity of the interface-Ethos developers pay special attention to the convenience of those users who are just getting acquainted with the use of cryptocurrency assets; - investment tools – within the framework of the project, the user can invest in any cryptocurrency he likes, basing his choice on the overall rating or his own analysis; availability of API tools for platform and wallet integration into other projects. As part of the development of Ethos, attention is paid to its cryptocurrency. Its purpose is determined by the internal functionality-payment for access to the platform tools, commissions, awards for voting, transactions between users. At the same time, the developers clearly indicate that the presence of ETHOS tokens on the account does not give the right to vote in the management of the project itself and does not imply the accrual of dividends under the PoS Protocol. Such mechanisms are not envisaged.

Cons