There are many areas where the Embedded Vault uses and will use EOT in the future, as short explanation follows.
EOT is used in the installation process of the Embedded Vault.
Dynamic Key Creation:
Every time the Embedded Vault or an application inside the EV is used a small cryptocurrency transaction takes place in the background and EOT is used in the process of creating the keys.
This is the most obvious use for EOT. EOT is a very effective, fast and secure payment system. You can send currency to any other EOT wallet almost instantly. As the value of EOT grows over time, people will start holding coins in the Embedded Vault wallets for longer times as a store of wealth.
The messenger will use EOT in 2 ways, firstly with Dynamic Key Creation and then after that when the message is sent from public key to public key, another small transaction is needed.
The calls in the Embedded Caller is also sent from public key to public key. When the call is started a “handshake” is created between the two keys so that the device can communicate. Again an EOT transaction is done and then the call itself is encrypted as well, requiring another transaction.
Secure Data Transfer:
This application works in the same way regarding EOT use as the two uses explained above. Documents can be securely sent via the blockchain encryption. The documents themselves are encrypted which requires an additional transaction.
Media and Data Vault:
In this application, documents can be stored encrypted on the device or uploaded for blockchain storage. EOT transactions are required for encryption and blockchain storage will have some free space but after that, the customer will have to buy additional storage space. This space will be sold in EOT.
The Embedded Exchange will have a multitude of use cases for EOT. Use case one is where EOT itself will be trading on the exchange. All exchange fees, listing fees and trading fees will be charged in EOT.
“ICO all in One” – With the integration of ERC-20 tokens into the wallets as well as into the Embedded Exchange, every new ICO or token based on the Ethereum blockchain could be listed on the Embedded Exchange and gets an automatic EV Wallet on the creation of the token. This gives everyone involved in the ICO an immediate place to store and send/receive tokens. All of these wallets will use Dynamic Key Creation for security thus using EOT.
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