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BLOG & REPORTS

REPORTS

Author: Oskar Andreas Berg, 05.02.2018

Myetherwallet.com Update

Myetherwallet.com Update - We do not have a lot of information on this subject, but we have spoken to the Team of Myetherwallet.com, and they told us that your funds are safe and that this will not affect users of the website in any way. However, we encourage everyone using myetherwallet.com, to store their private keys in a safe place. With your private key, you can always recover your wallet. Read more about the subject HERE. 

BLOG

Author: Oskar Andreas Berg, 05.02.2018

"The results from the open survey"

  1. FAKE NEWS & FUD - The biggest issue among the Reddit community of the top 10 cryptocurrencies seems to be fake news & FUD. SOLUTION - What we need is a website where users can do research and register information about newly written articles or news statements regarding cryptocurrency. Register the sources of the article or statement, write a comment on the content of the article/statement and determine if the content is true or false, the default should be unclear.
  2. MANIPULATION - Manipulation is a serious problem among all cryptocurrencies, and there isn't to much the Droplet team can do about it. SOLUTION - If we were to end manipulation of cryptocurrency, we would need control or collaboration with all exchanges. This can be done, although we don't expect it to be happening very soon.
  3. HARD TO BUY & SELL CRYPTOCURRENCIES - At the time of writing this, there is not to many places to spend cryptocurrency (although facebook & Starbucks have stated that they will try to accept cryptocurrencies in 2018). So until that happens, we still need to buy food & items. The problem is that there aren't enough places to buy or sell cryptocurrencies in a safe and fast & reliable way. Coinbase is the closest we get to a somewhat safe and reliable [FIAT-CRYPTO] exchange, but the fees are way to high, the support team is slow and there are rumors about manipulation from their exchange. SOLUTION - A decentralized exchange with Fiat-Crypto pairings would be the ideal Solution, but there isn't any decentralized exchange with Fiat-Crypto parings yet. The solution we have come up with is the Trust platform. It allows you to use your cryptocurrencies to buy any item or service you want, say hello to the eBay/Amazon of cryptocurrency and never touch Fiat again.
  4. ICO & AIRDROP SCAMS - Right now it is very easy to create a fake ICO or airdrop, with ICO website templates and the ability to buy or generate a whitepaper, anyone can create a fake ICO/airdrop. Since cryptocurrencies and ICO's are not regulated yet, there is no authority involved, and you can get away with fraud very easily. SOLUTION - There are already a lot of people solving this problem, but on the Trust platform we will have warning posters for known ICO & airdrop frauds.
  5. CENTRALIZED EXCHANGES - Centralized exchanges has a lot of problems and is not a safe place to store your cryptocurrencies. Issues like: bad support, weird withdraw limits, manipulation, and hacks, those are just a few of the many problems with centralized exchanges. SOLUTION - The solution to this problem is pretty straightforward, decentralized exchanges. There are some decentralized exchanges out there, but most of them, if not all of them is for tokens only and not for all cryptocurrencies. That is why we are creating the Mergexchange, a side project that will be a truly decentralized exchange with the most popular cryptocurrencies on it. It will not have withdraw limits or any limits. The fees will be small and will go to a weekly lucky pot that is randomly given out to the top traders on the exchange. Importing wallets is dangerous, but we will find a solution or a safer way to operate a decentralized exchange.
  6. EASE OF USE - Cryptocurrencies are not user-friendly, we need a better method for transferring cryptocurrencies. There are so many transactions that are lost or sent to the wrong address just by typing mistakes etc. SOLUTION - Ethereum has ENS, Ethereum Name Service, which is a great method for transferring Ether and tokens. But we had the same idea long before we even knew ENS was coming up, the only difference is that we were thinking bigger than just one coin/platform. We want all cryptocurrencies to have a wallet feature that allows a user to buy a domain under a specific top domain, and use it as a username linked to their wallet address. You can read more about this feature we are creating here.

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