Reviews & Ratings

Ethos Review – Defying Centralization With DeFi Innovation

By November 11, 2022 No Comments
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We all know that cryptocurrencies were invented to tackle the menace of institutional manipulations of wealth and data. About a decade after the first digital coin – Bitcoin (BTC) – was invented, the crypto industry is yet to fully reach the level of transparency we all want. A good number of centralized exchanges, disappointedly, have hijacked control from crypto enthusiasts and regular investors. This is one of the issues Ethos aims to tackle decisively, as we’ll show in this Ethos review.

Originally founded in the third quarter of 2017, Ethos has had its share of disappointments in the crypto world. Its novel decentralized technology was acquired in 2019, but the broker used it to centralize assets, to the detriment of users and the technology. Now, the founding team is back with Ethos 2.0 and promises to be better.

In this Ethos review, we will briefly discuss everything you need to know about the revamped crypto project and deliver our honest verdict on its quality and potential to influence the crypto scene for good.

Ethos Pros:

  • Ethos makes DeFi as simple as possible, even for someone who knows little or nothing about blockchain technology and cryptocurrencies
  • Ethos proprietary technology is advanced and there is room to improve it even further
  • Ethos is designed to give power to the common person who decides to invest in crypto, and the company protects users at all times
  • Ethos is strict on transparency, and the company is always eager to protect its users and investors
  • Ethos offers several features that suit all kinds of users and investors, and they will never have to sacrifice security for

Ethos Cons:

  • Ethos was reinvented recently, and some important functionalities are not yet fully developed

What is Ethos?

It’s best to describe Ethos as a crypto project that seeks to achieve the original vision of decentralization, transparency, and customer protection in the crypto space. The project was created to give full control to crypto users by making self-custody easy and safe for everyone.

While Ethos was created to tackle centralization, the team understood that the crypto space was not heading the right way because the big names in the industry favored some level of disguised centralization. While making users feel that they were in control, centralized crypto platforms exposed customers to all kinds of risks. Ethos was created to change the narrative.

Though its proprietary technology was acquired by a broker that pledged trust and transparency, it was not properly managed in the end. The team behind Ethos and its advanced technology decided to re-launch as Ethos 2.0. Once again, hopes are high, and the future looks bright.  

What you should know about the Ethos team

Before delving into how Ethos works and its major features, it is important to shed light on the team behind the project.

The story of Ethos started with Shingo Lavine and Adam Lavine, the co-founders. Before finding his calling in Ethos, Shingo Lavine worked in the technology infrastructure department of multiple institutions. Thankfully, he still serves as the CEO of the revamped Ethos 2.0. Meanwhile, Adam Lavine is an experience entrepreneur that has secured licensing deals with major brands such as Marvel, DC and Disney.

In addition to the CEO, Ethos boasts a mix of talented and experienced individuals. Other team members worth mentioning are Adam Meghji and Tim Simmons who collectively serve as chief technical officers.

Of course, there are several other talented and experienced team members at Ethos that space will not allow us to mention.

Ethos review – How does it work?

Ethos works as an ecosystem that allows users to own their assets and assert full control over how it is stored and used. It is a form of a decentralized platform that tackles centralization in a clear and transparent manner. In other words, it makes self-custody as simple as possible.

While the Ethos ecosystem is yet to be fully developed, it presents a crypto trading platform that is secure, transparent and convenient. Emphasis is primarily laid on user experience and the safety of all assets within the ecosystem.

Ethos offers a secure, multi-asset wallet. The Ethos Universal Wallet, as it is called, supports more than 100 cryptocurrencies. Thanks to its properties, the Ethos wallet is great for managing a diversified portfolio.

Ethos Universal Wallet and a host of other important features are based on a development platform called Ethos Bedrock. Among other things, Bedrock will allow users to create their own solutions with ease. It will supplement blockchain financial services and serve as a gateway to future innovative solutions.

Ethos features review

As hinted earlier, Ethos offers several important features. Here, we will highlight and describe the key features briefly.

Magic Keys

Ethos offers a bank-grade key that lets users secure their digital assets appropriately. The Magic keys are considered a breakthrough in next-generation cryptography.

Ethos Vault

Ethos offers every user a secure personal vault that can be securely locked with 2-Factor authentication and social guardian technology.

Live Trading

Ethos users will be able to broadcast and execute trades directly from their vaults, thanks to the live trading feature. Live trading offers zero counter-party risk.

Best Price Execution

Ethos crawl through every possible DeFi exchange to offer users the best price and liquidity. In some instances, trades will be split across multiple providers to ensure the best price execution at all times.

Ethos Rewards

Ethos strongly believes that crypto should be a rewarding experience. Users will get rewarded for every trade and some other on-chain activities.  

Yield Seekers

In the near future, Ethos users will be able to find staking opportunities and earn passive income with their digital assets. The team claims that this feature is coming real soon.

Ethos Review – The Verdict

The original founders of Ethos are back with Version 2.0, and they have prepared an airdrop for Voyager creditors and VGX holders who lost money when the company declared bankruptcy. Users that were affected may be eligible for an Ethos Recovery Airdrop.

Judging by its value proposition and the quality of its technology, Ethos is a good project. While the Universal Wallet remains its biggest selling point, a lot is expected in the near future. The team has been rolling out timely updates, and it may just be a matter of time before Ethos becomes a highly valuable crypto ecosystem. The Ethos community on Twitter and other channels also seems to be happy with the team and the way things are going, so it can be safe to give the project a chance.