CryptoCoinPrediction.com is not responsible for the article’s content or accuracy and may not share the author’s views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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What is Arctus?

Arctus is a client-side web based cryptocurrency wallet for storing and transmitting different cryptocurrencies. It is an open source project with no database behind it. It stores no information. All wallet private keys and passwords are held by the user. Even if the Arctus.io website is out of service, everyone can use their private key to retrieve their assets from other wallets.

It’s Free!

Arctus is free to storesend receive your coins! You can use our on-board Shapeshift exchange to shift your tokens but the minimum Shapeshift fees apply there (apart from miner fees).

Ease of Use

Our aim is to introduce a multicurrency wallet as one would expect. Simplefast and intuitive! We will provide our users with an interactive assistant where it will be able to guide our users with guided video material. We are working hard towards achieving this but are also open to further suggestions! Feel free to contact us at info@arctus.io with your suggestions!

Cross-Currency Support

Arctus offers its users the ability to store and transact different cryptocurrencies, including but limited to all the major ones (Bitcoin, Ethereum, EOS..), the ability to enter your custom ERC-20 Token and finally the team is constantly adding support for more tokens!

Decentralized

Arctus is fully decentralized. User data are not kept anywhere, as we do not have a back-end everything happens in your browser! Even if Arctus goes down, you can still retrieve your assets!

Open-Source

The application is licensed under the GPL 3.0 open source license. We intended to keep the source code open to maximize our transparency and reliability! Also we are open to community suggestions so feel free to visit our Github page and look around!

How does the Username & Password work?

Our main goal of the Arctus wallet is to create the most simplistic wallet possible. As a result, we are generating a multi-currency wallet by deterministically deriving the private key(s) with a combination of your username and password locally to enable you to access your wallet from multiple computers.

Although your private key is stored within your computer, upon generation it is encrypted with a pseudo-random session key generated within the website tab. Other websites do not have access to your session key as it is kept within your session’s memory.

Where do we go from here?

Development is moving faster as our team is growing! Our next milestones are:

  • Arctus tokens mining
  • Arctus Tokens Airdrop
  • Desktop & mobile app
  • Peer-to-peer exchange,
  • More tokens
  • Tip providing chatbot!

Further posts will be made explaining the nature of the Arctus token, token mining, token usability & finally a rough timeline of the aforementioned deliverables! ‘Till then, find us at:

Websitehttps://arctus.io

Wallet Application: https://wallet.arctus.io

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W.

What does it take for Bitcoin to achieve mass-adoption?

CryptoCoinPrediction.com is not responsible for the article’s content or accuracy and may not share the author’s views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

What does it take for Bitcoin to achieve Mass-Adoption?

The biggest obstacle for Bitcoin right now is, that so few people use Bitcoin. But why do so few people actually use Bitcoin from a day-to-day basis? Well, the answer is, because so few people use Bitcoin. That might sound a bit confusing right away, but I will explain myself.

Bitcoin has the obstacle to overcome, same as Facebook. Facebook became so valuable, because literally every friend of yours, and their parents where using it. If no one used Facebook, then I really doubt it would be nearly as valuable to humanity as it is today.

The same exact thing also applies to Bitcoin. What makes money valuable, is the fact that you can pay anybody for anything with it. Good luck paying your local supermarket in Bitcoins. It just doesn’t make sense to do so.

This is also called the network effect. It sates, that a system is only so valuable, as the number of people using that system.

So, let’s dive into the 3 deciding factors, that must happen for Bitcoin to fully achieve mass adoption.

First, of course, is the support by a big corporation or even country. For example, if a big company like McDonalds starts to accept Bitcoin, then people would be more inclined to make purchases with Bitcoin. This makes total sense, because why would anybody adopt the usage of Bitcoin, if you couldn’t make any real-world purchases with it? Exactly, it doesn’t make any sense whatsoever.

The first point was pretty obvious, so let’s look at the other deciding factors, that are crucial for Bitcoin to be mass-adopted.

Did you actually know, that a third of the world’s population, 2,5 million adults to be precise, do not have access to the banking system? Yeah, what people in the first-world countries take completely for granted, isn’t all that common all around the world: A bank account. On the other side, many more people in these third-world countries do have mobile phones, but no bank accounts. So, what if all those people start using Cryptocurrencies, like Bitcoin, for their online and day-to-day transactions? They could skip the traditional banking system and directly buy and sell Bitcoin from their smartphones. If one third (or even less) of the world population starts to use Bitcoin, it will gain world-wide recognition and overtake any other currency.

The third scenario that could happen, is that a major economic collapse or abuse occurs. When this happens, lots of people will want to transfer their wealth to something that isn’t dependent on any country or government, but is universally accepted in every country of the world. There aren’t many options for such things. One of these things is, gold. And the other could be Bitcoin, which I see as the digital version of Gold.

I hope we will never have to experience such a catastrophic event in our lifetime, but it sure is a positive thing for Bitcoin, since lots of people will adopt it.

These are all the point I could think of. Thanks a lot for reading and have an awesome day! Visit me at flashipcrypto.com for more Crypto-article?