[Series: Crypto Q&A] Part 5/5: Introduction to ezDeFi

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What is ezDeFi?

EzDeFi is a company that provides payment solutions using blockchain technology. The current EzDeFi ecosystem has built public blockchain, payment gateway for cryptocurrencies, e-wallets, e-commerce sites, extensions on web browsers. In particular, the payment gateway EzDeFi, “EzDeFi Crypto Payment gateway” currently supports 7 major e-commerce systems, typically WHMCS, WooCommerce, and OpenCart. EzDeFi also supports plugins and extensions on popular browsers including: Chrome, Microsoft Edge, Coccoc or Brave.

With the strength of helping organizations and shoppers reduce transaction fees by 98% compared to other payment gateways, EzDefi is proud to have attracted and worked with 988 customers so far.

In addition, EzDeFi has ambitions to integrate with central bank digital currencies (CBDCs) to support all cryptocurrencies available from different countries.

The products of ezDefi

EzDefi currently has 3 main products: ezDeFi Wallet app, ezDeFi Wallet extension and ezDeFi Payment Gateway.

2.1. Product ezDefi Wallet and ezDefi Extension

Currently, ezDefi wallet has 2 modes: Simple use mode and security mode. Simple mode is suitable for customers who are new to crypto or are new to crypto wallets because of its simple display and easy operation. Security mode provides greater security for users with large numbers of assets.

EzDefi Wallet and Extension have 4 main functions:

Multi-chain feature

Multi-chain feature will help users to store all coins in a single wallet even if they use different platforms. Especially ezDefi wallet can help users directly experience D-apps built on different chains. This feature is currently only available in ezDefi Wallet.

Wallets without Multi-chain feature can only store 1 chain in 1 wallet. That is, if you own many different coins such as: DASH, BTC, ETH, REP … You must install at least two wallets, one to hold the coins on the Ethereum platform (ETH, REP) and a wallet. another for coins on the Bitcoin platform (BTC, DASH). Imagine that you are participating in a D-app built on Ethereum and another D-app built on TRON, you have to open the Metamask wallet and go to the TRON wallet continuously to access. Because TRON and Ethereum use two different blockchain platforms.

Multi-address feature

Multi-address feature helps users to display multiple addresses in the same wallet so they have an overview of their assets. This means they can have multiple ETH wallet addresses, multiple TRON wallet addresses, multiple BTC wallet addresses in their same wallet interface.

To make it easier to understand, without the Multi-chain feature your current wallet looks like this:

Wallet 1 Wallet 2 Wallet 3
BTC: Address 1 BTC: Address 2 BTC: Address 3
ETH: Address 1 ETH: Address 2 ETH: Address 3
XRP: Address 1 XRP: Address 2 XRP: Address 3
LTC: Address 1 LTC: Address 2 LTC: Address 3
USDT: Address 1 USDT: Address 2 USDT: Address 3

Using ezDeFi wallet, users can create multiple sub-wallet addresses in one large wallet for one coin. The example is as follows:

ezDeFi wallet BTC Address 1
Address 2
Address 3
ETH Address 1
Address 2
Address 3
XRP Address 1
Address 2
Address 3
LTC Address 1
Address 2
Address 3
USDT Address 1
Address 2
Address 3

Sync between Extension and Mobile wallet

When using a crypto wallet, a bonus user wishing to be able to use the wallet on both the mobile and the web. Therefore, the function of data synchronization between electronic wallet on the phone and the web is very important for users to easily manage their account. However, the synchronization function of many other wallet applications does not ensure the security of data because when synchronizing, the user’s data will be stored on the system of the product at the same time, that is, outside the user. There will be a third party that will capture this data.

EzDefi wallet provides synchronization between mobile wallet and computer wallet while ensuring security and ease of use by syncing data through users’ personal cloud account (Google cloud, google drive…). This allows users to manage their own data through personal accounts.

Private Key Cloud backup

The Private Key in the crypto world is like the password of your bank account. Users often save the Private Key by writing it down, saving it to notes, hard drives … However, this storage brings a lot of risks because the possibility of being forgotten or discovered by others is very high. To solve this problem, ezDefi wallet has integrated a Private Key Cloud backup feature that makes using Private Key simpler, convenient and easier.

The Private Key Cloud backup feature uses the Shamir algorithm that allows users to split their Private Key into several parts. Users can choose how many pieces they want to split and save each piece to their cloud account (eg Google Drive). When saving the private key in the cloud, you can optionally set the key to split into pieces and facilitate key regeneration. For example, you can split the Private Key into 3 parts, save it in Dropbox, Google Drive and in email, you can also choose that just 2 out of 3 pieces of Private Key you can recreate the complete Key. This will prevent you from losing a piece of Key and not being able to connect to your wallet account. For additional security, you can choose to use a password to be able to log in to view the keys on the Cloud,

Most importantly, with the Shamir algorithm, a user can also decide how many shards are needed to completely recreate his or her Private Key. Especially only the owner of the Private Key knows exactly how many pieces to use and where to save them to recreate the lost Private Key.

2.2. ezDeFi Payment Gateway (ezDeFi Payment Gateway)

EzDeFi payment gateway has supported 7 main e-commerce systems: WHMCS, WooCommerce, OpenCart … with the following outstanding advantages:

– Fee is only 0.1% (Save 5% compared to traditional payment methods)

– Support for payments in many types of coin

– Instant payment, no intermediaries

After this article, we have a pretty clear look at ezDefi’s product. In gratitude to customers and users of ezDefi, ezDeFi will bring extremely attractive gifts with huge value to customers who install and use our wallet.

Please follow and immediately join the following groups so as not to miss the unprecedented attractive gifts:

Group ezDeFi global: https://t.me/ezdefiglobal

Fanpage ezDeFi global: https://www.facebook.com/ezdefi

 

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