Etho Protocol, formerly known as Ether-1, is a decentralized storage layer on the blockchain powered by InterPlanetary File System (IPFS) technology. The network resulted from a fork of the original Ethereum blockchain and enjoyed smart contract functionality and full EVM compatibility.
The revolutionary technology behind Etho Protocol makes it an ideal censorship-resistant and immutable platform to develop enterprise applications and support decentralized finance (DeFi) and NFT applications. The fully backward compatible EVM allows developers convenient portability of Ethereum-based dApps onto Etho Protocol. This network offers an additional storage layer with all the security benefits of Ethereum but higher decentralization.
Etho Protocol’s on-chain storage layer is designed with 10x redundancy for additional security of mission-critical data, thanks to its widespread and global network of nodes. This security feature replicates data and ensures access to critical files anytime, even if a few nodes go offline. The project’s developers added support for NFTs in 2021-22, allowing the network to support NFT marketplaces and giving it one more valuable use case.
$ETHO is the native coin of the Etho Protocol and is used for transactions and paying rewards within the platform. Etho Protocol supports staking and mining ETHO crypto, making it a highly versatile digital asset.
