Ethereum Is Added To The Wirex App And Online ETH Transactions Become Available
Wirex is a platform for users who want to manage their digital assets and traditional fiat currency. They just announced their support for Ethereum (ETH). Ethereum has been added to the platform, and it seems that also an Ethereum wallet will be available for users.
Users are able to spend/pay online via Wirex payment card
For the moment, users are able to convert their ETH to GBP, EUR, and USD for in-store spending or paying online via Wirex payment card.
Wirex also discussed more things that users will be able to do with the ETH wallet on the platform. These include selling, exchanging, and depositing ETH via the app.
Also, users will be able to exchange altcoins and initiate free crypto transactions.
The blog post also addressed Ethereum’s smart contracts which are basically its defining feature. Smart contracts allow developers to create and run decentralized apps.
Smart contracts self-execute themselves, and this is what mainly distinguishes them from the traditional contracts.
💠 Wirex #ETH Wallets have landed!💠
The new Wirex #Ethereum wallet allows you to buy, sell and store #Ether (ETH). Everything you need to know, we've covered: https://t.co/5F18HrqPcU#WelcomeToTheWirexFamily #ToEthereumAndBeyond pic.twitter.com/OsKbB84cDw
— Wirex (@wirexapp) September 4, 2018
DAO is backed by smart contracts on blockchain similar to Ethereum’s
Wirex also mentioned Decentralized Autonomous Organizations (DAO) that are backed by smart contracts on blockchains that are similar to Ethereum.
The DAO was developed as a venture capital arm for the decentralized cryptospace, but unfortunately, it faced a loss of about 3.6 million ETH (about $70 million) during a hacking attack dating back in June 2016.
The Ethereum blockchain is also associated with an alliance that’s called the Enterprise Ethereum Alliance (EEA) which was formed as a way of networking for industry institutions.
Here are the most significant names that are involved in this alliance: CME Group, Infosys, Ernst & Young. Intel, J.P.Morgan, Shell, Accenture, among others.
EEA’s main target is to work on the cost for local customers, introduce interoperability into the ecosystem, launch support from various vendors and much more.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.