Walleteum is a wallet management system that allows users quickly and easily interact with their coins, while tracking and monitoring diverse assets. Walleteum will allow users to view, send and receive balances of any supported cryptocurrency.
Walleteum blockchain is an extended version of the first generation and aims to make all transactions on the blockchain easier and transparent. The second generation blockchain runs on Blockchain 2.0 protocol. Basically, Ethereum is the 2nd generation cryptocurrency developed based on a decentralized protocol. Considered as programmable money, and has been driving force behind practically every initial coin offering embarked upon to fundraise resources channeled at cryptocurrency development. The Ethereum consensus protocol is based on proof-of-work (PoW) model. The protocol distinguishes between asset and programmable infrastructure and utilizes smart contract to enact the terms and conditions that guide every transaction made.
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Problems in this platform
- Bitcoin and other cryptocurrencies are not easy to use, and uninviting to new users.
- There are limited places to use your digital assets, and no option to centrally manage them.
- Most banks do not offer any of these options today, and are often set up nationally, not globally.
- Services that offer the purchase of cryptocurrency tend to have extended wait times for new member activations, even longer wait times for an exchange, unheard of fees, and numerous security issues. Among these services there is a need for greater security implementation to protect users.
- There are limited ways in which customers can spend their crypto assets in real-world applications. Most cryptocurrencies tend to sit in exchanges waiting to be extracted back to fiat currency once again, which in turn incurs more fees.
Solution in Walleteum
Now that mobile phones are so prolific, the opportunity to manage one’s financial freedom has never been so available. As the internet and mobile devices permeate the global landscape, see services becoming ever stronger and eventually offering a solution to this global problem. Walleteum has a security and ease-of-use hybrid approach to the “make it easy to use” problem. Current technology is built on the foundation of the bitcoin blockchain, with this being the most well-known blockchain. Walleteum is safe in that hold no money or cryptocurrencies on behalf of users, and by using the latest smartphone security that already lives on your mobile device, truly unique. This is the core foundation that has attracted users for the past four years.
Mission of Walleteum
Walleteum believes that the possibilities for blockchain are limitless, yet unrealized in the current market. Centralized systems are by nature not secure and suffer from high costs while decentralized systems based on the current technology available in the market are far too slow to be practical solutions. With this in mind, team at Walleteum recognized that the solution would be created using a “best of Wallet” approach.
The Walleteum is wallet management system that allows users quickly and easily interact with their coins, while tracking and monitoring diverse assets. The Walleteum Wallet allow users to view, send and receive balances of any supported cryptocurrency. The wallet manager is entirely decentralized meaning that consumers have complete control over their private keys at all times. Walleteum can’t access funds without direct user authorization. All changes in balance are completely user- directed and there are no locks or limits. The goal is to create a safe and easy wallet that operates utilizing the complete user autonomy and control that cryptocurrencies afford. The Walleteum Universal Wallet operates much like a password vault making safe and secure key management much easier than before.
Point of sale in Walleteum
Walleteum advanced payment gateway for paying with crypto anywhere and anytime, even at places or websites that do not yet accept cryptocurrency. This will be further supported by a Point of Sale Systems which will allow every business from small mom and pop shops to huge internet retailers to incorporate the use of cryptocurrency without any significant fees. Customers of these shops will even be able to buy cryptocurrency at check-out with traditional payment methods.
Cold storage features
Walleteum platform has a reliable, deep cold storage mechanism to keep user funds safe. Cold storage wallets have private keys that are generated offline with advanced security in place to prevent anyone other than authorized personnel from accessing the funds.
Multi signature P2PS
Otherwise known as pay–to–Peer–Sign addresses require multiple private keys (SHA256) to transact. This technology is popularly referred to as “Multi-Signature Implementation.” This process eliminates single points of failure by ensuring all keys are stored on separate devices. If a malicious attack were to affect one point of entry the other point of entry would still needed to gain access. The easiest way to understand P2PS is to compare it to a safe that requires two keys with a third key stored in a separate place in case one of the keys is lost.
Google 2FA authentication
Google Authenticator 2FA is a software token that implements two-step verification by using time-sensitive One-time Password and HMAC-based OTP Algorithm. These processes help to authenticate users of mobile applications by Google.
Token of Walleteum
The function of the Walleteum Ecosystem will be supported by EUM, the Walleteum Ecosystem Coin. EUM is an ERC-20 compliant token issued on the Ethereum blockchain. It is designed to give the holders access to the products and services available in the Walleteum Ecosystem. As the Walleteum Ecosystem gains users the demand for EUM will grow. As people will need it to pay for services such as the use of the Walleteum Terminal, Debit Card and Wallet, Once the Walleteum Blockchain is released all of the EUM (ERC-20) holders will receive the new EUM coin which will be used to fuel the Walleteum Blockchain, and thereby bringing all of the ecosystem components together.
- Supports BTC, DASH, LTC, ETH, EUM, ZEC, XLM, and more.
- Live price updates with detailed market information.
- Send and receive functions for all supported blockchains.
- Buy and sell cryptocurrency without leaving the app.
- Updates for Walleteum (Pay anywhere using NFC Technology).
- Email receipts (ability to insert company information, logo, and special offers).
Ben Jalilian, CEO & Co-founder
Faezeh Bagheri, COO
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