Ethos, a cryptocurrency services provider, has now released its institutional blockchain solutions platform Ethos Bedrock. Using Bedrock, institutions can safely lay the groundwork for crypto financial services such as custody, liquidity, brokerage, and lending.
Ethos’s flagship product, the Universal Wallet, runs completely on Bedrock APIs and is Bedrock’s first reference application. In other words, Bedrock is not a theoretical infrastructure; it is up and running today supporting over 90,000 users worldwide and has performed over 400,000 transactions seamlessly connecting with a variety of blockchain networks.
“Nearly every fintech firm views blockchain as the next paradigm shift for digital finance, but the wide array of blockchain and crypto protocols and frameworks have long been complex and inaccessible–until today. Bedrock provides the infrastructure for a whole new wave of revolutionary new blockchain-based products and services that will power the digital economy of the future.”
Bedrock includes structures that enable institutions to create their own crypto wallets, liquidity and custody services, as well as custom solutions for blockchain integration, alerts, identity and transaction monitoring.
Bedrock uses open peer-reviewed standards such as BIP32, BIP39, and BIP44. These standards enable institutions or their customers to safe keep hundreds of digital assets through Ethos’ SmartKey technology. Bedrock also includes an abstraction layer that offers support for multiple blockchains and custom digital assets.
Bedrock is powered by the ETHOS token which is designed to provide utility and access throughout the Ethos ecosystem. Bedrock business partners may utilize and stake the Ethos token to unlock access to the system, pay for the fees, and receive discounts. A gas mechanism protects the network from resource greedy, malicious or inefficient applications and provides reduced fees, creating a win-win ecosystem that operates efficiently and cost-effectively while delivering benefits to both businesses and consumers.
Bedrock can be licensed under joint venture or custom engineering contracts and is designed to be customized for industrial-grade scalable and secure financial applications.