Ethereum Deposit Tool
Tags: javascript, webdev, beginners, programming
Published: 2023-02-06 12:07:32

EVM stands for Ethereum Virtual Machine, and there are over 600+ Known EVM chains including 
ETH, BNB, MATIC, FTM, and many more.
These networks support smart contracts like ERC20, ERC721, and ERC1155. Here ERC stands for 
Ethereum Request for Comment. These standards have especially ERC20 been dominant & helpful 
in Creating Tokens in Cryptocurrency networks. Tokens have been quite popular in There have been
an increasing number of tokens in multiples of thousands.
ICOs stands for Initial Coin Offering or IEO ie Initial Exchange Offerings have used tokens in their 
ECO system.
Most exchanges nowadays support EVM Wallet and their tokens. To support tokens Developer use 
Either GETH [ Go Ethereum Client], Or use Hdwallet+ [Moralis or Other Public APIs]
Known Issues with Geth.
1. Security: Geth itself isn't protected by nature, Additional security like NGINX or a firewall 
is required.
2. Multichain : Geth /Parity does not have More than one chain.
3. HDWallet: Geth creates a random Private key every time a new address is generated. Thus 
developer needs to maintain and backup Multiple private keys.
4. Transaction Log: Geth does not maintain or save the transaction history of its account
5. Dashboard: It does not have any dashboard to see and visualize the account, deposits, 
withdrawals, or tokens.
6. Funds movement: Funds can not be auto-moved to a specific account.
7. Private keys need backup: A regular backup is required.[ Almost every new account is 
created ]
Known Issues with Moralis or Similar Solutions [ Infura, Etherscan].
1. Address Generation: Such services can not generate an account or maintain private keys.
2. Server App: Does not have any private app running on a server.
3. Signing Transaction: Transactions can not be signed.
4. Funds movement: Funds can not be auto-moved to a specific account.
Blockgum comes to the rescue as it is Hybrid Solution to serve both purposes that GETH and 
[Moralis Alternative](url=https://blockgum.com) do. Blockgum is a server app and has a [ethereum mobile](url=https://blockgum.com) client for Full 
management purposes.
Blockgum can read multiple chains ie [Multichain Wallet](url=https://blockgum.com/chains) Full Server side wallet solution, to cater 
to the need of Exchanges, ICOs, IEOs, Wallets, Payment Gateways, Wallet Providers and Stores, 
and Other services.
Blockgum is a [Geth alternative](url=https://blockgum.com) as It supports HDWallet, which can generate billions of addresses. It
uses Single Master Public and Private keys. No need to maintain Millions of Private keys. Backup 
once and you are good forever. Which is a perfect [ethereum wallet](url=https://blockgum.com) tool.
Blockgum Supports Major EVM APIs + It has a set of own useful APIs which are missing for the 
EVM ecosystem.
Blockgum is also a [Ethereum Deposit Tool](url=https://blockgum.com) ie does [ETH Deposit Tracking](url=https://blockgum.com/docs) for multiple chains for 
Main coin and their tokens, It can be used for [ETH Wallet](url=https://blockgum.com) , [BNB Wallet](url=https://blockgum.com) or Any [EVM Wallet](url=https://blockgum.com) 
purposes for your all custom accounts.