In the vast cryptocurrency market, the sooner you enter the market, the better. The mainland's new ImToken is a great example. The company is the first company in mainland China to develop a cryptocurrency wallet app. The products developed by ImToken support Ethereum blockchain technology.
Deal Street Asia reported that the free software has attracted 4 million users in the past year, depositing $35 billion in cryptocurrency assets in the service. ImToken attracts even more money than its main competitor, Coinbase Inc.
ImToken successfully attracted investment from technology venture capital firm IDG Capital, which invested a total of $10 million in ImToken. This means that investors do not mind the turmoil in the cryptocurrency market over the past year, and believe that ImToken can still go upstream in this high-risk industry.
He Bin, the 35-year-old founder of ImToken, is also the founder of Imsenken's parent company, ConsenLabs Inc. He Bin said in an interview that the company's growth is an organic and natural phenomenon. The operating team generally lacks various marketing and advertising budgets, but it can stand still.
He Bin originally decided to invest in Ethereum technology in 2016, the year before the new generation of cryptocurrency fundraising for himself through the first token issue (ICO). Since then, the number of tokens issued using the ERC-20 rule in the Ethereum ecosystem has surged to 500.
ImToken is the largest e-wallet supplier to support the 500 tokens through research and development. He Bin is a self-learning programmer. He is a technology developer in the technology industry through various podcasts of DiggnaTIon and 5by5.
A spokesman for ImToken said that the assets deposited in the ImToken App amounted to $35 billion. In contrast, Coinbase, another major competitor, has a currency deposit of only $20 billion. According to Bloomberg data, the daily transaction size of ImToken users in January 2018 accounted for 10% of the activity of the Ethereum blockchain. Until May, this percentage was as high as 21%.
Although this is not the best comparison, according to data from the Federal Deposit Insurance Co., the deposit growth rate of ImToken in the past year can be compared with JPMorgan Chase and Citigroup. CiTIgroup) is comparable.
Almost all cryptocurrencies are stored in e-wallets, a special digital address recognized by blockchain technology. The world's best-known e-wallet operators include Binance and BitMEX, which are currency exchanges that bring encrypted assets on their own platforms.
In addition, companies such as Coinbase and Xapo offer simple interfaces or strong security wallets. These e-wallet providers maintain and control deposits with users, and their roles are very similar to traditional banks. There are also some local e-wallet providers whose function is to provide full access to the user's cryptocurrency and to ensure the security of these currencies.
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