Unido's unique features and potential for growth - an ecosystem to watch in 2023
Wallet security is THE hot topic in Crypto in 2023.
In the past 18 months, millions of crypto users and investors in cryptocurrency have lost access to their funds through major centralized entities failures (including Celsius Network, Three Arrows Capital, Voyager Digital, FTX/FTX.US, BlockFi, among others), creating a climate of insecurity for crypto investors, and setting the stage for crypto projects bringing more security into the space to grow rapidly.
In this context, the $UDO token —which allows anyone to use the Unido ecosystem’s tools to secure their crypto assets — has quickly outperformed the market and other altcoins, with a staggering 135.7% over the pair $UDO/USDT in the last 30 days (as at February 24th, 2023).
Yet, the Unido ecosystem seems to only scratch the surface of its full potential, as $UDO's future growth can rely a strong foundations, many competitive advantages and more capabilities to be unveiled this year.
Unido can count on 3 prime advantages over hardware and software wallets to attract new crypto users wanting to secure their assets using true self-custody.
Here’s why we see incredible opportunities for growth and believe crypto investors looking to diversify their portfolio and capitalize on the growth of the cryptocurrency market will choose Unido.
Let's dive in.
#1 - Unido's Technology (multi-party computation) is a better solution for self-custody and offers unparalleled security and scalability.
To protect crypto users' assets, the technology Unido is using (Multi-party computation technology or MPC) offers a great solution to the challenges posed by both hardware and software wallets.
MPC is a cryptographic technique that enables multiple parties to perform computations on data while keeping the data private and secure.
In the context of asset security, MPC allows users to store their private keys across multiple devices, reducing the risk of loss or theft.
You can think of MPC as a safe with several locks, which would require multiple people spread across the world to each insert their key at the same time to unlock the access to your safe. As such, MPC represents a more secure and scalable alternative to traditional hardware and software wallets, offering a new standard in the secure storage and management of cryptocurrency assets.
#2 - Unido's ecosystem is growing month on month, delivering important features for crypto security in an easy to use, accessible package.
Unido was introduced in mid-2021 to deliver a highly secure self custody solution with governance features, in an easy to use package.
Since then, the project has been met with impressive success, with its user base continuing to increase by about 400% month-over-month.
Unido has worked hard to build features with users in mind, and has continued to develop the platform by leveraging the full capabilities of the patented MPC engine.
With the downloadable, free-to-access platform that enables users to easily set up a multi-user wallet for any major blockchain and manage, buy, and exchange cryptocurrencies within the app (thus avoiding the centralized counterparty risk), Unido is projected to grow its user base throughout 2023.
The team has also created an outstanding user experience, making it easy for beginners to participate in the cryptocurrency market.
#3 - Unidos' ability to serve the retail market is another key factor in its potential for growth.
In February 2023, the UDO token had a market cap of approximately $1.2M. This is already impressive with few altcoins passing the $1M mark, yet the potential for further growth seems extremely promising.
Consider that there are few competitors in the MPC market and that the most comparable - FireBlocks, which focuses on solving the needs of large businesses and institutions - boasts a market cap of $8 billion.
With ever more crypto enthusiasts and small businesses entering the crypto space, and with no other solutions to date to fulfill the needs of those users, we can truly appreciate the enormous potential for growth that Unido holds.
Indeed, as the UDO token is required to utilize the platform and leverage the full capabilities and features of the Unido ecosystem, we can envision a future where more people will want to use the platform, more will purchase the $UDO token, increasing the demand and, therefore, its price.
Until early 2023, Multi-Party Computation (MPC) wallets were only accessible through high-end providers, catering to the needs of larger businesses and institutions, leaving the self-custody needs of small businesses and individual cryptocurrency enthusiasts unfulfilled.
Unido, with its patented tech, strategic positioning, and multiple features has everything it takes to disrupt this space. Its growth potential is particularly evident as more and more users are adopting the Unido wallet and utilizing their services daily for security, governance and decentralized trading.
The early achievements of the UDO token highlight the confidence of retail investors in $UDO and the capability of Unido's team to deliver, making it a serious solution to consider for potential investors looking to diversify their portfolio and capitalize on the growth of the cryptocurrency market.
The Unido Enterprise Platform:
- World Class Security
- Multi-user, Multi-signature
- Analytics and Reporting
- Interoperability and Multichain
- Decentralized Self-Custody
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