The crypto market is once again exploding, and Bitcoin (BTC) is already well beyond halfway towards its former all-time high (ATH). However, the current development goes well beyond that. Numerous major companies are approaching crypto, whether by adding support for crypto payments, or by developing their own coins and tokens.
In other words, the crypto space is making massive leaps towards mass adoption. As a direct result, more and more people are accessing the crypto market, which is constantly getting bigger, receiving new use cases, and more popularity.
Meanwhile, the crypto space is also advancing in terms of security. More often than not, security is being improved due to a harsh lesson. Hacks are still quite common in the space, but so are scams and alike. With that in mind, it is more important than ever to have a secure wallet, and approach DEXes, rather than centralized exchanges. On DEXes, all of your funds remain in your possession, which really means that having a secure wallet is the top priority. Because of that, numerous new wallets are emerging, with upgraded security features and support for countless tokens. Spatium is one great example which is also developing its own token.
Spatium is a project that has developed ultra-secure software and hardware wallet, with support for more than 100 different digital assets. It claims to have made a major breakthrough when it comes to signing transactions without having to store any private keys. In theory, this would make the wallet completely unhackable, which is just the type of advanced security that the crypto space desperately needs right now.
The Spatium project claims that its technology is not just theoretical. In other words, they have a working product, that was already audited by independent third parties. Further, the software wallet is available for download and can be tested from anyone. It can be found on any of the three main app stores.
The team behind the project wanted to complete the product before conducting an ICO so that investors would not have to trust in their success — they can already see it for themselves at any time. The project has also developed the so-called Spatium Protocol, which allows users' wallets to be stored on a combination of several physical devices. That way, even if a single device is compromised, the user can still access their funds from others, which is great, in terms of security.
At this time, Spatium has not released a lot of details regarding its ICO. Even the token's name has yet to be confirmed. There is also no information regarding when the ICO might take place, which areas (if any) will be restricted, or what the price per token is going to be.
There is really only a few pieces of information that are known at this time, and that includes the fact that the token will be a utility, and that it is being developed on Ethereum's network, as an ERC-20 token. It is also known that the project is registered in Singapore. Due to the fact that it is created on Ethereum's network, it is likely that it will be purchasable in exchange for ETH, although it is unknown whether this will be the only coin that the project will accept.
Nothing else is known at this time, but do keep an eye out, as a lot of new data is likely to come in following weeks.
| Start | June 1, 2019 |
|---|---|
| End | September 30, 2019 |
| 43 days left |
Although the product itself looks quite impressive, and is backed by a decent technology stack, I don’t think that Spatium has what it takes to make it big. The most likely scenario is that their idea would be duplicated, with some minor twitches, by some bigger company, which would steal the glory. That is an example of how a project with an interesting product can’t realize its potential due to the lack of proper marketing efforts.
The Spatium card-like wallet is definitely an interesting device in terms of design, which must look ultra-cool. It also seems to be okay functionally, but what concerns me is whether or not this project holds potential to compete with the renowned brands like Ledger and Trezor, which may not look as stylish as Spatium, but can definitely boast a proven track record. I don’t see any significant marketing efforts from the team, which means that there is a high probability that Spatium would remain a great-looking thing that nobody wants.
The Spatium wallet is a truly impressive device from both technical and aesthetic point of view. Perhaps that’s how the crypto wallet of the next generation should look like. The technical specifications are also convincing, especially the offline signing, keyless signing, and inheritance transfers. I am a bit concerned about the team, though, because their track record consists mostly of Eastern European projects and none of the well-known ones in the US. But it doesn’t mean that they are incapable of developing a revolutionary product.
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