VERTO: A SECURE PASS TO THE VOLENTIX ECOSYSTEM
VOLENTIX LABS is developing a digital application known as VERTO, an innovative downloadable wallet to support peer-to-peer digital asset transactions while ameliorating the risks of using a centralized third-party exchange.
VERTO will hold VTX, a native utility token to be issued for use in the VOLENTIX ecosystem to operate and manage its various functionalities, especially the other pillars of the VOLENTIX ecosystem: the decentralized exchange VDEX, the promotion and marketing platform VENUE, and the user interface and ratings research tool VESPUCCI.
An initial version of VERTO expects to deliver basic UX/UI functions, including VTX balance data. A second generation VERTO expects to provide interactive functionality to manage relationships with other users within the VOLENTIX ecosystem and to access meaningful tools afforded by the other core applications.
In contrast to central exchange applications, VERTO plans to maintain control of private keys within the asset owner’s own local device so that custody of assets is not ceded to third parties. VERTO therefore seeks to eliminate the hacking and error-based risks associated with trusting a third-party intermediary.
Authentication is planned to run on the EOS blockchain. Order placement will lock assets pending completion or expiration of a predefined period. VERTO plans to embed an EOS-based wallet by which a 64-character password is generated, as well as encrypted and stored in the local device’s keystore. For security purposes, private keys and passwords are not stored remotely, and therefore password resets are not feasible. It is thus essential that keys and passwords be backed up to a secure location.
VOLENTIX also plans to recruit and incentivize a decentralized developer community to maintain and evolve the core applications supporting VERTO and the other pillars of the VOLENTIX ecosystem. Our commitment is to promulgating open source code and to sharing innovative ideas with full functionality for making proposals within a robust governance structure aimed at increasing efficiency and preparing for artificial intelligence micro-transactions within the Internet of Things.
Please have a look at the VENUE Bitcoin Talk campaign, which is already underway. VERTO plans to deliver a single sign-in system by which to access VENUE directly.
Please keep informed of updates and developments for VERTO by visiting www.volentix.io And please keep in mind, feedback is always welcome.
The Volentix Labs team