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Unstoppable Wallet Talks to Us About their Wallet and Crypto Privacy

Republished by Plato

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Despite the pseudonymous nature of many cryptocurrency ledgers, one issue that has been pertinently discussed within and outside the cryptocurrency space has been the privacy of cryptocurrency transactions.

It has also exposed the fact that emerging computational processes such as elliptical analysis and others have been able to identify different kinds of transactions to a degree never seen before on pseudonymous blockchains.

It also presents the ever-present dilemma developers of such infrastructure face all the time. On one hand, we have individual privacy and the individual right to privacy. While on the other hand, the abuse of privacy exists.

While these questions will continue to be a chicken and egg question,  the evolution of privacy-oriented wallets will be an ongoing concern.

One of such privacy-oriented wallets is Unstoppable Wallet. This wallet developed by Stephen Burton and his team has been a breath of fresh air to members of the cryptocurrency space.

Launched in 2019 and with over 20,000 downloads so far on both App Store and Google Play, the privacy-oriented wallet has broken boundaries.

We reached out to Stephen and his team at Unstoppable Wallet about this and other issues. Here is what they had to say.

E-Crypto News:

  • How did you get involved with cryptocurrencies and their allied technologies?

Being entrepreneurial and libertrain minded software engineers we always founded a traditional finance layer non-democratic and overly regulated.

At some point in our careers, we had a realization that technologies like Bitcoin, Ethereum and blockchain technology in general are practically ready for prime time.

We were familiar with Bitcoin since 2014 but started actively working with the technology in 2017 after we saw that it already enables us to be in the financial game while being able to stay outside the traditional finance layer.

E-Crypto News:

  • What is an Unstoppable wallet?

It’s a non-custodial wallet aimed at crypto investors. This wallet was built for portfolio management and active investing while adhering to security best practices.

The wallet is engineered around the needs of someone who is actively investing in crypto and has high standards for security and privacy.

It currently happens to be one of the most advanced wallet applications available on the market.

E-Crypto News:

  • Please, can you tell us how non-custodial wallets work?

Non-custodial wallets transfer the responsibility for the security of the funds from the wallet provider to the wallet user.

When the wallet is built per non-custodial principles the ability to execute transactions is exclusive to the user and no other entity. The wallet provider has no means to interfere with the user’s ability to transact.

In contrast to non-custodial wallets, custodial wallets work like a traditional bank where the bank has full control over the clients’ assets and can freeze funds on accounts or restrict users from accessing the platform.

E-Crypto News:

  • How does the Unstoppable wallet mitigate third-party risk?

Typical financial instruments act as custodian of the client funds. Banks and exchanges are some examples of this. In such cases custodian entities pose a third party risk to the assets of the clients. In case of Unstoppable since the wallet is built per non-custodial principles such risks are non-existent.

That being said, it doesn’t mean there are no risks at all. There are risks that can occur as a result of malfunctioning software or presence of security bugs in the software powering the wallet app itself.

E-Crypto News:

  • What are your thoughts on the recent crash of Bitcoin prices?

We welcome corrections and consider them as stress tests for the Bitcoin ecosystem.

Every crash, especially a major one, makes Bitcoin stronger and more resilient to future volatility. Just like various blockchain networks welcome stress, the Bitcoin community should welcome turbulence once in a while.

Then we can see how resilient the Bitcoin ecosystem is to price crashes, institutional dumps, miner revolts, massive selling, government bans, and whatever.

We tend to think of Bitcoin as unstoppable but at the same time we haven’t seen the full extent of the powers that are betting against it.

The success of Bitcoin and its adoption by the mainstream also means the end to many fiscal policies and the status quo of financial institutions as we know it. So, there is an invisible and massive wall that will resist Bitcoin along its growth trajectory.

E-Crypto News:

  • What are your thoughts on the recent pushbacks by world governments against  cryptocurrencies?

Governments and all kinds of regulators are likely going to have strained relations with Bitcoin, Ethereum and alike technologies moving forward.

After all these technologies can potentially alter the type of relationship citizens have with the governments and regulators.

In many developed nations outright banning something like Bitcoin is not an easy task. Even if it’s banned, enforcing that ban on a practical level is close to impossible.

So, the chances of some democratic nation banning Bitcoin or Ethereum are slim but various forms of aggressive regulations are expected.

E-Crypto News:

  • How has the year been so far for the Unstoppable wallet?

This year has been great. Our team was able to deliver most of the planned features and started to get noticed by heavyweights in the space. The wallet was recently added to the list of recommended wallets both on Bitcoin.org and Ethereum.org.

All of that, along with an increasing interest in crypto from the mainstream, brought to us a significant number of users looking for a capable instrument for investing in cryptocurrencies.

We are specifically focused on the investment-oriented segment and built the features around the needs of those people.

E-Crypto News:

  • What are the limitations of other wallets that Unstoppable wallet has been able to avoid?

When compared to other wallets, Unstoppable stands out in its ability to provide trustless communication with the blockchains it supports. In other words, not only Unstoppable provides non-custodianship but also capability to trustlessly verify the information returned from the blockchain for validity.

Even some of the highly regarded non-custodial wallets are lagging behind when it comes to this aspect. Moreover, such setup keeps Unstoppable wallet users connected directly to the blockchain rather than relying on a middle man to send/receive transactions.

Unstoppable is built using native mobile technologies which makes overall user experience smoother and overall more responsive. Only a few wallets are built this way as it’s considerably expensive and in general a harder process.

E-Crypto News:

  • What are the benefits of using the Unstoppable wallet?

Unstoppable engineered to ensure users are able to access and transact in crypto from anywhere at any time.

Being a non-custodial wallet is just one aspect of ownership. Some wallets are non-custodial but at the same time depend on some 3’rd party server to send/receive transactions.

Unstoppable engineered to work without reliance on a single point of failure (for most blockchains) and built to work as long as the phone is connected to the internet.

Another major benefit of using Unstoppable comes from enhanced privacy mechanisms built into the wallet i.e. ability to mask internet activity even from internet service providers. The wallet does not create accounts or collect/share any data about users

Unstoppable is probably the only wallet with multi-wallet capability enabling users to have an unlimited number of wallets where each wallet can be used for any number of coins.

Along with this there is a newly added feature which enables users to use a single mnemonic passphrase for an unlimited number of wallets making it extremely easy to manage multiple portfolios.

E-Crypto News:

  • Just how easy is it to use the Unstoppable wallet?

One of the key ideas driving the engineering and creative process for Unstoppable is to make a decentralized financial layer accessible, easy and enjoyable.

Unstoppable tries to educate users as they interact with various features and keeps complexities under the hood. If you refer to the available public feedback it’s often branded online as the easiest wallet to use.

And that is while being one of the most advanced wallets in the ecosystem.

E-Crypto News:

  • What do you think are the problems that are preventing the widespread adoption of cryptocurrencies?

Despite ongoing progress on various fronts to make cryptocurrency and its usage easier, the barrier to entry is still fairly steep, especially for non-technical people.

For instance, the idea of keeping your own private keys is something many people fail to grasp on a first encounter.

The usage aspects such as transaction fees, decentralized exchanges and other DeFi services are even more difficult and often require some time before the user gains an understanding of how these things work.

We address that we created two onboarding courses for Unstoppable users. One that teaches users everything there is to know about storing, transaction, buying and selling cryptocurrency. And another one builds upon the concepts in the first one, onboards users into the world of DeFi.

E-Crypto News:

  • How do you think cryptocurrencies and their underlying technologies can solve humanity’s problems?

For humanity, cryptocurrencies and blockchain have opened up ways to agree on things in a reliable and transparent manner without the need for a mediator party. In practical terms, these technologies have the means to make global society more just, transparent and efficient.

As blockchains enable value storage and transfer people are now able to hold and move wealth independently rather than relying on an entity to do that for them. That aspect alone can have profound implications on a way we interact and do business globally.

Decentralization is not about teaching people cryptography, or aspects of digital sovereignty but more broadly to foster economic growth and global inclusion by replacing inefficient and biased institutions with impartial algorithms.

E-Crypto News:

  • How many cryptocurrency tokens, blockchains and other distributed ledger technologies (DLTs) does Unstoppable wallet support?

Unstoppable currently supports 8 major blockchains including and cryptocurrency tokens based on Ethereum and Binance Smart Chain blockchains. That covers about 95% of all cryptocurrency and token out there.

There are short term plans to integrate the Polkadot, Solana and Cardano blockchains bringing the coverage to 98-99%.

E-Crypto News:

  • Are there any plans to back the Unstoppable wallet with its own cryptocurrency token?

Yes, it’s on the roadmap and we are already working on it.

The main utility for Unstoppable token will come from the ability to access high-level limited analytics and research features i.e. on-chain analytics for tokens.

We believe our approach will demonstrate the ability for decentralized applications to build token powered revenue streams without having to raise funds or market the token as a speculative instrument.

We have been working on that for a while already and expect to see it in production by the end of July 2021.

E-Crypto News:

  • Are there any plans to include other tokens, blockchains and distributed ledger technologies (DLTs) in the future?

On a priority level we are looking to add support for Polkadot, Solana, Monero and THORChain. Once those are added we’ll add blockchains requested by our users given that there are no underlying issues with them.

E-Crypto News:

  • How does Unstoppable wallet plan to reach out to generation Z?

We don’t target the Gen Z audience specifically as the oldest people in that segment are still fairly young and unlikely to have spare funds for investment in crypto assets.

Our key segment are well off millennials which are looking to invest their assets. If they already approach crypto as the asset of choice then why will surely need one of our instruments.

E-Crypto News:

Please, can you tell us more about the trustless communication process between the unstoppable wallet and cryptocurrency tokens and their underlying blockchains and distributed ledgers?

The basic principle behind all non custodial wallet apps is the idea that only the wallet user can move/send/spend funds on the wallet. In practical terms, this means that only the person in possession of the wallet app can broadcast a valid transaction.

A wallet app that uses trustless communication with the blockchain provides several advantages to the user:

  • More private communication with the blockchain

  • Independence from a specific point of communication that can potentially fail

  • Ability to verify the data returned from the blockchain for validity

E-Crypto News:

  • Where do you see Unstoppable wallet in the next decade?

We see it replacing mainstream wealth management instruments 🙂 It looks as a logical outcome taking into account why, how and for whom we build the instrument.

E-Crypto News:

  • How secure is an Unstoppable wallet?

Unstoppable is considered a secure wallet taking into account that it’s a non-custodial wallet and employs safe key storage mechanisms recommended by Google/Apple. That said, the user is expected to keep their phone OS up-to-date, free from unreliable third party apps and in general observe security best practices i.e. not clicking on weird looking links or ads on adult websites.

Unstoppable takes security extra seriously and builds software strictly following well documented best practices for security and software architecture standards.

E-Crypto News:

  • If you had three wishes and a Genie that could make them come true, what would they be for the cryptocurrency space?

No major wishes to be honest) Things are already progressing well and much faster than we could have envisioned in the past… That said, it would be exciting to see when some cryptocurrency like. Bitcoin starts being used as the primary settlement layer between governments and big crops.

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Source: https://e-cryptonews.com/unstoppable-wallet-crypto/

Blockchain

Ethereum Testnet Burns 88K ETH in Preparation for EIP-1559

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Ethereum’s London hard fork launched on the Ropsten testnet on June 24 in preparation for the mainnet rollout in July.

The upgrade will usher in the implementation of the highly anticipated EIP-1559 modification that will adjust the Ethereum transaction fee calculation mechanism.

The next phase in the London hard fork rollout is deployment on the Goerli testnet which is scheduled for June 30. Following that, it will be launched on the Rinkeby testnet on July 7 and then mainnet later in the month.

Watch The Burn

Part of the EIP-1559 mechanism, aside from changing the fee auction structure, is to burn the “base fee” which will make the Ethereum economy deflationary over time.

A website called Watch The Burn has been set up to see this in action. At the time of press, 88,483 ETH had been burned on the testnet. This is equivalent to around $177 million at current prices.


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Ethereum software solutions firm ConsenSys estimates that the annual supply change will be minus 1.6 million ETH. At current prices, this equates to the burning of $3.2 billion in ETH which will reduce the annual supply rate by 1.4%.

The deflationary properties of the network will be further compounded when proof-of-stake launches on mainnet for ETH 2.0 in 2022 some time and the asset is no longer mined.

In February, Predictions Global founder Ryan Berckmans detailed how, in his opinion, Ethereum prices could surge to five figures through these deflationary mechanisms. He argued that this effectively gives ETH back to holders and not miners as the asset increases in scarcity through fee burns.

Unfortunately, hopes of major gas savings from the upgrade have been dashed. ConsenSys confirmed that it was not the intent of the EIP, adding:

“As a side effect of a more predictable base fee, EIP-1559 may lead to some reduction in gas prices if we assume that fee predictability means users will overpay for gas less frequently.”

Ethereum Prices Lackluster

Ethereum prices had regained the psychological $2,000 level at the time of press. The asset has gained 4.2% on the day but remains in a downtrend.

CoinGecko has reported a 20% decline in the price of ETH over the past fortnight. The world’s number two crypto asset is currently 54% down from its all-time high of $4,350 on May 12.

So there may be a bit longer to wait before these properties of scarcity and demand are reflected in its price action.

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Source: https://cryptopotato.com/ethereum-testnet-burns-88k-eth-in-preparation-for-eip-1559/

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Blockchain

Leonicorn Swap to launch a viral campaign

Republished by Plato

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The Leonicorn Swap platform has many features such as NFT, IDO, and Lottery, making it the most advanced AMM platform for customers. It is the best marketplace that offers all users trading opportunities with liquidity for their market projects. 

The best part of the platform is the ease of buying and selling NFT and raising other funds for all personalized projects, including IDO or IFO. It is decentralized with a natural network to provide advanced DeFi tools and products. 

The success of the platform, like any other blockchain startup, depends on its community. The community must be active, engaged in a proper manner, and passionate about all these features provided. The products and services offered by the crypto projects should offer the community an interceptive platform to trade and sell.

Viral campaigns are part of the success of making any platform surge high in the market.  Notably, the Lonicorn community has not disappointed. The community has massively taken up the different challenges with some getting the opportunity to win amazing prizes.

Leonicorn Swap on Twitter explains:

“More than 20+ #Twitter influencers joined together to promote our $20,000 worth of #giveaways campaign. We help the community aside from growing our project. Join our tg: t.me/leonicornswap Join our public sale whitelist: leonicornswap.com #BinanceSmartChainpic.twitter.com/k2AVzcYqQH”

Viral Campaign with Gamified Contests

Leonicorn Swap is planning to organize a prize giveaway in their forthcoming public sale. The campaign awards attractive prizes with performance in the contests the community participates in. The prize is appealing in several ways. It offers a huge opportunity to provide financial service to projects and fits customers’ demands. 

The latest cash prize  was given nearly 24 hours ago and entailed: 

“$200 giveaway to 1 random user. Follow us and Retweet our Pin. And Join our TG: https://t.me/leonicornswap also Tag three friends in Comment. It will end in 24 hrs. RocketFire #LEONICORNARMY #BinanceSmartChain #BSC”

Other successful contests included quizzes, treasure hunts, and answers to clues that require revisiting existing content. It encourages the familiarity of the users with the projects on the platform. Furthermore, the contests are an excellent way to recruit more participants for a higher winning chance. The referral contests also offer a massive boost to the number of users. 

Community Challenges at the Public Sale 

The public sale starts from June 25 to June 30. With an allocation of a maximum of $3000 and a minimum of $50, it is easy to conduct community challenges for viral campaigns. The already existing and active community needs to have other exciting offers and optimism to increase their interests. 

The challenges go in handy with both games and quizzes, and in the current market era, meme challenges make a considerable impact. The DeFi space is awash with memes and technology that Leonicorn is interested in making their viral campaigns go overboard. 

A meme camping involves an invitation to community members to create different ideas and humorously share them. The highest shared and winning memes get prizes. 

The invite from Leonicorn Swap on Twitter states:

“This weekend, we will launch a viral campaign with the #LEONICORNARMY hashtag. Thanks to all who already joined our public sale whitelist. Let’s make it viral together. #BSC #BinanceSmartChain #LEONICORNARMY.”

Stay alert to receive all new updates from the Leonicorn Swap community to engage in these campaigns and win fantastic prices. You can find more information from the various social media platforms for the Leonicorn swap team and its massive community.

Media Contact

CEO- Mofassair Hossain
Company – Leonicorn Swap
Email- [email protected]
Telegram- LEONICORN SWAP OFFICIAL COMMUNITY
Twitter- LEONICORN SWAP

PR Contact-

Name- Sourav Ghosal

Company- News Coverage agency

Email- [email protected]

Team-  News coverage agency

Disclaimer: This is a paid post and should not be treated as news/advice. 

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Source: https://ambcrypto.com/leonicorn-swap-to-launch-a-viral-campaign

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Blockchain

Soku Swap: Providing a secure blockchain-based solution in the DeFi space.

Republished by Plato

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The advent of blockchain technology and cryptocurrency has allowed millions of users across the world to achieve privacy, freedom, and stability. The idea of decentralization in the crypto space is to give users control over their funds, investments, and privacy without any interference from banks and third parties.

In addition to this, decentralization solves the problem of corruption, inefficient services, and systemic failures within the financial system. 

Soku Swap is a decentralized cryptocurrency exchange hosted on the Ethereum network, and Binance Smart Chain. It uses automated market-maker smart contracts to create liquidity.

Soku Swap has a crypto education system that offers free crypto classes, intending to reduce the spread of misinformation about cryptocurrencies, and allows users to make informed trades on their platform. Additionally, their 24/7 live chat assures users have all the help they need in making trades on the platform. 

The Soku Swap Platform 

What makes Soku Swap the choice of the crypto community is the fact that it addresses the most important pain point which is the high gas fee in the ecosystem. Gas efficiency is one of the core components achieved through the use of optimized AMM smart contracts. This allows Soku Swap to provide a 10% lower gas fee as compared to other exchanges.

This gas efficiency is shared by all the platform-supported cryptocurrencies that can be swapped. The addition of the Binance Smart Chain for making swaps makes it even more gas-friendly. Even in the current market flooded with NFT trades, Soku Swap allows users to enjoy low gas fees for their transactions. 

The liquidity of the user in the Soku Swap pools is managed through SOKU LP, the liquidity tokens issued by the platform. In essence, these tokens represent the liquidity of the user in the Soku pools. If the user stakes on Ethereum, they will receive ERC20 type SOKU LP tokens and for the users providing liquidity on Binance Smart Chain, the token is of BEP20 type. 

The purpose of having Liquidity Tokens is to provide further liquidity to the users as they can use these tokens to perform various financial activities without actually taking their liquidity out of the liquidity pools. This helps in two ways:

a. It allows users to gain interest on their staked amount while still being able to use the liquidity through the tokens issued. It will maintain the liquidity of the protocol.

The platform creates a truly decentralized environment through the availability of SOKU, the governance token that allows the Soku Swap platform to be truly decentralized. Anyone holding SOKU will be allowed to vote in critical decisions of the protocol such as upgrades or the future of exchange.

Furthermore, for the loyal or constant users who stake SOKU LP and complete a few trades on the exchange each week, a small portion of the trading volume will be allocated to them.

This acts as an incentivization model of the platform. With the growth of the exchange, the loyal users of the platform will also enjoy growth in their profits with the added trust of a truly decentralized environment. 

Features of Soku Swap 

The exchange offers various features that are all designed and intended to provide traders with the best experience. 

  1. AI flash loans are no longer for developers. Soku Swap makes it possible for users to make arbitrage trades without prior coding knowledge. Anyone who uses the platform can use them, allowing users to borrow assets without depositing collateral as long as the said amount returns to the protocol within the same block. If that fails, the transaction reverses as if it never happened. The most popular use case for flash loans is arbitrage trading. Users can benefit from price discrepancies across different exchanges and profit off of them. The platform allows users to see whether the arbitrage trades they wish to make will be profitable or not with the help of AI. 
  2. Soku Swap Boxes are another innovation that Soku Swap brings forward to help users capitalize on investment-worthy tokens. Every 2 weeks, the Soku Swap team will go through a list of the top gainers and trending tokens. Then, each token will be verified and researched before being included in the Swap Box. After that, users can buy packages ranging from $50 to $1,000 and select the number of tokens they would like to receive. The main idea behind this is to reduce the efforts that investors need to research.
  3. The token verification tool makes sure traders have all the education and information on a token before making any investments. Thorough research of tokens is done by the Soku Swap team, who then provide traders with a score for each token. The score relies on various factors such as liquidity, community, team members, contract codes, among others. The goal behind this feature is to prevent users from getting caught in scam coins.
  4. Moreover, users don’t have to worry about going through an extensive Know Your Customer (KYC) check. Since the exchange is entirely decentralized, there’s no need to provide any documents or verification. 
  5. 24-hour live on-screen chat for better customer support in the DeFi ecosystem. Live on-screen chat is a feature offered by many exchanges; however, it is not set to Soku Swap’s standard and full potential. Instead, Soku Swap focuses on taking care of their community members by providing instant support and results, something other platforms fail to do.
  1. Crypto awareness and education to help develop a deeper understanding. Soku Swap’s fun and easy-to-understand videos and articles allow users to learn about the crypto, blockchain, and DeFi industry. Furthermore, the platform incentivizes people by offering them rewards in SOKU tokens for taking part in these classes and for every successful referral. 
  2. Governance token to enable true decentralization. 

The SOKU Token 

The native SOKU token is a governance token that allows for all holders to vote on decisions on changes and updates to the DEX, and how network resources are allocated. The token also allows for processing fees for transactions and data storage, rewarding users for cryptocurrency education classes, staking, and providing liquidity. 

The SOKU token may be purchased during the initial exchange offering on LATOKEN June 23rd onwards. 

Catering to both the Ethereum and Binance communities, Soku Swap is a decentralized exchange that accommodates the needs of the ever-evolving cryptocurrency community. Soku Swap aims to make the DeFi space a safer place for all traders, new and experienced alike.

Stepping towards making blockchain-based solutions more secure than ever by researching newly listed projects on the exchange to review the validity of a token and provide crypto education.

This not only helps individual investors from capital loss but also saves the crypto ecosystem from potential hacks and scams while educating new users who are just getting into the cryptocurrency space.

Disclaimer: This is a paid post and should not be treated as news/advice. 

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Source: https://ambcrypto.com/soku-swap-providing-a-secure-blockchain-based-solution-in-the-defi-space

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