Good News!
ELLIPAL will participate in the first Hong Kong Web3 Festival, which is worth celebrating! This event is important for ELLIPAL as it will gather the world's top talents, leading Web3 projects, and pioneering venture capital, presenting a rich discussion and topics on Web3. Representatives of Hong Kong regulatory agencies will also interpret the latest digital asset regulatory policies. Upholding the openness and cooperation spirit of Web3, the organizer will invite partners to jointly plan and organize some activities for common development. As a world-leading air-gapped hardware wallet, ELLIPAL will bring its products and technology to a broader stage.
Information About Web3 Festival HK
The Hong Kong Web3 Festival, organized by W3ME and co-hosted by Wanxiang Blockchain Labs and HashKey Group, is scheduled to take place from April 12-15 at the Hong Kong Convention and Exhibition Centre (HKCEC). With a total area of approximately 9,000㎡, this four-day event expects to attract more than 10,000 attendees, including 300 distinguished industry speakers, nearly 100 Web3 projects, community partners, and media partners from around the world. The event will provide opportunities for attendees to network, share knowledge, and learn through high-level content and panel discussions. Additionally, other technology-related activities organized by the Hong Kong Trade and Development Council will also be held at the same venue during the same period.
The 2023 Web3 Festival Hong Kong will provide an excellent opportunity for attendees to stay up-to-date on cutting-edge Web3 technology, insightful opinions, and trending topics. Participants who are passionate about Web3 can engage in face-to-face conversations with key influencers through speaker AMAs. Moreover, the event organizers will be inviting Web3 projects to join as partners from April 14th to 15th, and all eligible projects can apply for the partnership. For emerging Web3 projects, the Hong Kong Web3 Festival is a world-class platform to showcase their work and attract global attention.
Insights and Innovations from the Hong Kong Web3 Festival 2023
At the Hong Kong Web3 Festival 2023, regulatory representatives will be invited to present the latest regulatory policies and future plans for the Web3 and virtual asset industry by the Hong Kong Government. This initiative aims to provide useful insights for Web3 projects who are considering a move to Hong Kong by offering them a better understanding of the opportunities, challenges, talent pool, resources, and favorable policies available in the region.
Topics highly relevant to ELLIPAL Cold Wallets
Web3 Financial Infrastructure: Web3 Wallets and DIDs
Decentralized Identifiers (DID) and cold wallets are two critical components of security in Web3. DID provides a unique identifier for individuals or entities without relying on intermediaries or central authorities, while cold wallets provide an extra layer of security for storing digital assets offline.The use of DID within cold wallets can enhance security by improving identity verification and access control. By integrating DID with cold wallets, users can verify their identities securely, enabling them to access their digital assets and execute transactions more efficiently.
Global payments under Web3
Web3 is changing the way we think about digital transactions. With the rise of blockchain and decentralized applications, traditional payment systems are being disrupted and new opportunities for secure and efficient digital payments are emerging.One important aspect of Web3 payments is the use of cryptocurrencies and tokens as a means of exchange. These digital assets can be securely stored in digital wallets, where they can be used for online transactions. However, these wallets must be kept secure to prevent loss or theft of the digital assets.
This is where cold wallets come in. A cold wallet is a type of digital wallet that stores cryptocurrencies and tokens offline, disconnected from the internet. This provides an extra layer of security compared to traditional hot wallets, which are connected to the internet and more susceptible to hacking attempts and other security threats.
Cold wallets offer a practical method of managing digital assets seamlessly with decentralized applications and services. By combining cold wallets with Web3 payments, individuals can safely store and transfer their cryptocurrencies and tokens without having to worry about security breaches or other security risks.
Web3 & Security
The Use of Cryptography
Cryptography is a method of encrypting data to ensure that only the intended recipient can access it. Public-key cryptography is widely used in Web3 to secure transactions and verify identities without relying on intermediaries or trusted third parties.
The Use of Smart Contracts
Smart contracts are self-executing contracts with the terms of the agreement directly written into code. These contracts eliminate the need for intermediaries or trusted third parties, reducing transaction costs, and improving speed and efficiency.
Transparency and Immutability
Blockchain records all transactions as blocks that are linked together in a chain, creating an unalterable record of all activities within the network. This ensures greater accountability and trust, making it easier to detect and prevent fraud or other malicious activities.
Control & Ownership of Data & Assets
Decentralized identity models such as Decentralized Identifiers (DIDs) enable individuals and entities to control their own identity without relying on centralized authorities, reducing the risk of identity theft and enhancing privacy.
The role of ELLIPAL
The web3 market is currently experiencing a resurgence, with an increasing focus on web3 topics and trading volumes. With the support of web3, ELLIPAL is highlighting its advantages in the cold wallet market. What makes ELLIPAL competitive?-
Cold wallets are never connected to the internet to increase security. ELLIPAL's hardware manages users' private keys by using technology that isolates all internet channels such as 4G, WIFI, Bluetooth, USB, and voiceprints. During transactions, users only interact with the cold wallet through QR codes for signing, ensuring the safety of digital assets.
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ELLIPAL provides a multi-functional service application that offers basic functions such as market data, trading, payments, Dapp calling, and more. Cryptocurrency users can complete their daily operations all in one place through this application.
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Currently, ELLIPAL supports 51 blockchains and over 10,000 tokens while also supporting NFTs, increasing user participation.
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ELLIPAL's cross-chain security wallet provides convenient support for multi-currency payments and exchanges. Compared to other hardware wallets, ELLIPAL is more user-friendly.
What’s more?
There will be a special event on our social media during 2023 Web3 Festival HK. Stay Tuned!