As decentralized applications represent the spirit of innovation in the crypto economy, ClearCoin is working toward decentralized architecture for its wallet system. In order to complete this, we are starting with a phase out of our centralized wallet system. Your current balance in the centralized wallet system is intact and you are able to request withdrawals from within the Platform. There is no time limit on making withdrawals from the centralized wallet system. As per regulatory requirements, users must complete a standard KYC (know your customer) form in order to make their withdrawal. The KYC form will be sent to you by the support team if you haven’t completed it in the past.

The balance you have in the centralized wallet system belongs to you, and you are able to view the balance from within the Platform. The XCLR that is held in the current system will now be stored in one of the company’s multi-signature wallets until the withdrawal is requested by the owner of the balance. The withdrawal system is reflective of centralized exchanges that aggregate total balances of their users and withdraw to the users when users elect to do so. The future system will be more reflective of decentralized exchanges like IDEX that have users store and secure their own private key or login with a service like MetaMask.

The decentralized system has a number of benefits including security on the user level and greater security for our set of products and services. Users who would like to fund ad campaigns will still be able to do so by funding the line item wallets with XCLR from any ERC20 compatible wallet. The guide on funding ad campaigns is available at this link. Well known ERC20 compatible wallets include Ledger Nano S, Trezor, MetaMask, Mist, MyEtherWallet, and Jaxx.

As we work through these changes with the wallet architecture, there will be high volume movements of the XCLR token on its contract address. The balance in your dashboard will be unchanged until you make a withdrawal. As always, the support team can be reached by emailing help@clearcoin.co.

Through the rest of August, we will be working on improvements to our ad serving technology, publisher integrations, updates to the Explorer, ad campaign reporting, and other initiatives for greater adoption of the XCLR token.

