Keeping money in wallets is a well-forgotten old custom that is gaining new life in the era of digital currencies. Money can be stored with software, but the most reliable digital wallets are hardware devices that are present in the physical world. How about a wallet that makes money for you all by itself? A fantasy you say? Well, the OTON ecosystem is offering just such a device.
Why do I need a hardware wallet?
A software wallet is the same kind of program modern banks provide so that you can access the funds in your account. In the case of cryptocurrencies, money is stored not in a bank, but in a public register on the blockchain.
However, the main problem with any financial software running on the Internet is that it can be remotely hacked. For example, this can be done with a banking application through the substitution of a SIM card. Access to funds stored in a software wallet can be obtained by stealing private keys, which are essentially long and complex passwords.
The main difference and advantage of a hardware wallet is that it cannot be hacked from the Internet. The hacker’s only hope is to gain physical access to the device, and even that will prove fruitless with an OTON wallet.
Anatoly Ille, the founder of the OTON ecosystem, commented on the situation as follows: “We’re making physical wallets. People have this notion: ‘if I can touch it, it’s real – everything else is electronic nonsense.’”
What is OTON offering?
OTON’s hardware wallet is based on open-source code from Trezor, a well-known manufacturer of similar devices, that is the recognized standard in terms of security and convenience. We are talking not only about the software, but the hardware as well (the STM32 chip is used).
In addition to OTON tokens, the wallet can safely store a wide range of cryptocurrencies, including Bitcoin (BTC) and Binance Smart Chain tokens (BEP20).
The device has a three-level protection system to thwart attackers, even if they gain physical access. It completely blocks the attack vectors that hackers use to penetrate a device’s memory.
Thus, the OTON wallet can rightfully be called technologically secure. What else could you wish for?
A Wallet That Makes You Money
OTON’s hardware wallet has a built-in token pool.
The device is sold with OTON tokens frozen inside, which are unfrozen in equal parts every 10 seconds for 5 years thanks to a special smart contract.
What does this provide? Here’s how Anatoly Ille explained the idea:
“When I came to the cryptocurrency market as an inexperienced investor in 2016, I bought Ethereum for $6, and Bitcoin at about 270. What happened next? When Ethereum rose to $22, I sold half of it because I thought I’d caught lady luck by the tail. And then, when the price reached 100, I sold another third. And finally, at 300, I sold the rest. So, when Ethereum hit 4,000, I had none left to sell.
What do we want to do with our wallet? The pre-sale of OTON tokens has ended, but demand for them remains. If you were to send tokens to the exchange, the growing demand would send the price into the stratosphere. We decided to make a limited number of wallets. Fifty €10,000-wallets, a hundred €5,000-wallets, two hundred €2,000-wallets, and three hundred €500-wallets, with a fixed price of 3 cents for the frozen tokens they contain. The tokens will be unfrozen in equal parts every 10 seconds for 5 years.
The main financial benefit is that you are purchasing the tokens at a fixed price. If you were to buy that many on the exchange, the price would shoot up, and you’d end up paying much more than 3 cents per token.
Why would you buy one of these wallets? As a kind of pension. Due to the fact that we have a large ecosystem, we expect the price of the token to grow. If I had purchased Ethereum with such a wallet in 2016, I would now have the equivalent of $200 to $300 dripping into it every 10 seconds!”
An Ecosystem to Earn With
OTON is an ecosystem oriented towards monetizing target audiences. This ecosystem currently consists of a marketplace and a training platform, which also helps bloggers and influencers earn money. Almost any online service can be connected to OTON. “We are simply digitizing the whole world,” says Anatoly Ille.
The ecosystem’s native token serves as a means of paying commissions and ensures the transparency of each platform. Thus, we are not talking about an ordinary cryptocurrency project focused on earning through the generation of tokens. OTON is a rapidly developing business automation system, whose audience already exceeds 150,000 people.
The first people to buy the wallets will be active users of the ecosystem who are interested in owning OTON tokens and using them in their daily activities.
The ecosystem also makes it possible to do what’s seemingly impossible: restore a hardware wallet if it’s lost or damaged. A unique procedure for restoring the private key is provided for this purpose, which is based on the mandatory verification process that all OTON users must undergo.
Thus, the device is not just a cryptocurrency wallet that serves as a vehicle for saving. It’s also a tool in the OTON ecosystem that can be used to purchase any of the goods and services offered on any of the ecosystem’s available platforms. You understood that correctly: you can pay with OTON tokens – they can be used as full-value, unrestricted currency in OTON’s native ecosystem.
A Glimpse into the Future
Sea, beach, palms. A person laying in a chaise longue occasionally looks at their smartphone with visible pleasure. On its screen, you can see how OTON tokens are being released into their wallet every 10 seconds at an increasingly higher price. After all, ordinary money is still needed in this life. Although everything this person sees before them – a house on the shore, a yacht, and even this chaise longue – can already be bought inside OTON’s ecosystem for OTON tokens using the OTON wallet.
A gentleman in Hawaiian shorts approaches.
– Well, look how this money drips in here.
– Oh, I want one too!