Wallets are typically used for storing and hodling purposes. To ensure success, we, the IOTA community must move beyond hodling and start enabling IOTA to flow freely in the economy from person to person. Nelium Wallet is different as it provides frictionless transfers.
Specifically, Nelium practically eliminates the need for manual re-attaching, re-broadcasting, node changes, manual address exchange, manual bookkeeping, and so on streamlining the transfer process.
Friction is the effort senders and receivers have to use to complete a transaction. In most IOTA wallets to date, the steps involved in a transaction are following:
1) Sender calls recipient to get their IOTA address
2) Recipient generates a new address
3) Recipient emails their receiving address
4) Sender copies the address from the email sent by recipient
5) Sender pastes the address into its wallet
6) Sender enters the amount and clicks ‘Send’
7) Sender monitors the status of the transaction
8) Sender changes nodes
9) Sender promotes, reattaches, or rebroadcasts the transaction
10) Sender calls recipient to verify if the transaction has arrived
Even for users generally well versed in IOTA, the transaction process is too involved, that is, too cumbersome and error prone. Alarmingly, the situation becomes even more complex in cases where the recipient is yet to install the wallet. In other words, in most wallets the level of friction is simply too high to foster general adoption.
Nelium’s process is seamless; offering natural and ultra-high-speed and frictionless transactions:
1) Sender selects the recipient from the phonebook
2) Sender enters amount and clicks ‘Send’
That’s it. That’s the Nelium’s advantage.
Absolutely. Once you click ‘Send’, we queue the request on your phone and send an invite to the recipient. We guide the recipient step by step through the wallet installation process. Upon the completion of installation, the person’s new wallet sends a receiving address to your wallet, which then proceeds to execute the real transaction. From your perspective, sending IOTA to any person requires the same two-steps process regardless of whether that person has previously installed the wallet.
Nelium Wallet builds on the official wallet, which is currently on version 2.5.6. We take the base layer provided by the official wallet and add logic to achieve a frictionless user experience. The Nelium Wallet will be audited by an experienced third-party security company and the code regularly reviewed by the IOTA Foundation.
Your seed is stored on your device. Your seed is never sent to our servers in any way. Nelium Wallet allows you to backup your seed by sending it to yourself by SMS. When you send your seed to yourself, you have the option to protect it with AES-256 encryption.
The Nelium team maintains and operates a large number of IOTA nodes. By the time Nelium Wallet goes live, we anticipate having 15 nodes of 20 GB of RAM each. We believe that a frictionless wallet should just work, so we’ve removed the need for users to choose, set up, and configure nodes.
With conventional wallets used for IOTA, it is very difficult to keep track of transactions. After months of use with such wallets, it becomes almost impossible to discern who is the sender or the recipient for each transaction. With these systems It is up to the user to painstakingly maintain records of sender and receiver’s names. Such is another layer of unnecessary complexity. Nelium wallet strips away this issue by associating all transactions directly to your contacts.
The airdrop symbol allows you to send 10i to each of your contacts with the single click of a button. The goal of this functionality is to allow your friends and relatives to gain experience with IOTA. We have designed a streamlined process that makes it easy for them to receive the transfer even without having installed the wallet themselves yet. The feature allows you to spread the word about IOTA. Obviously as the popularity of IOTA grows, so does your investment. Start airdropping now!
The IOTA nodes operated by the Nelium team currently support only Nelium Wallet. Our goal is to provide Nelium users with the best possible user experience. We operate and maintain the IOTA nodes for their benefit.
Absolutely. On recipient list, click on the QR code icon and you will be able to enter the recipient’s address directly. This allows you to use Nelium Wallet as you would any other wallet.
These features are absent in Nelium Wallet. As part of the frictionless approach, Nelium detects if promotion, rebroadcasting, or reattaching is needed and completes the activities on your behalf. This is all done on the server side so your IOTA experience remains clean and seamless.