Leading global cryptocurrency exchanges and service providers with trillions of dollars in transactions over the past year and more than 2.3 million users adopt the FIO Protocol to improve the user experience.
The Foundation for Interwallet Operability (FIO) has today announced that leading cryptocurrency exchange Changelly, centralized crypto-to-fiat exchange WhiteBIT, digital currency self-custodian Trustee Wallet and the DeFi-focused application Frontier, serving many emerging open finance markets including India, are moving forward with their plans to integrate the FIO Protocol aimed at improving their cryptocurrency users’ experience.
The use of FIO protocol will now be extended to 17 wallets and exchanges representing over 4,300,00 cryptocurrency users enabling people to participate in the blockchain ecosystem without needing complex public addresses.
The launch of the FIO Protocol’s integration into these service providers is aimed at taking place in early Q1. The decision aims to make using crypto products more accessible and easy to use for experienced and new investors interested in blockchain technology who have concerns regarding the complexity of storing assets that require passphrases and complex addresses.
Luke Stokes, Managing Director, FIO: Cryptocurrency mass adoption is inevitable. As blockchain is the best ledger ever invented, cryptocurrency is the best form of money ever invented. The difficulty and stress using cryptocurrency, however, is one of the main things holding back this mass adoption, and this is what the wallets and exchanges that integrate the FIO Protocol understand and are working together to solve.
With the launches of these four FIO integrations, the users of the platforms will be able to transact confidently using their very own registered FIO Address and avoid the inherent risks associated with managing long and confusing public keys.
With the new service-layer integration Changelly, WhiteBIT, Trustee and Frontier users will be able to attach private metadata to their transactions such as a memo about the transaction which only the sender and receiver will have capability to read.
The Foundation for Interwallet Operability (FIO) is a non-profit Cayman entity operating as a decentralized autonomous consortia that manages the FIO Protocol as a service-layer solution for crypto-enabled products.
The FIO Protocol is designed to dramatically improve the cryptocurrency experience for both users and businesses by reducing the margin of risk associated with managing long and confusing public keys and replacing them with a decentralized custom naming solution that is equipped with the additional benefit of having secure and encrypted metadata attached within a user’s transaction.
FIO Address is made up of two parts, username@domain. Addresses are automatically mapped to every cryptocurrency linked to the integration partner’s platform. The growing ecosystem of FIO-enabled products spans the globe and comprises some of the industry’s leading wallets and exchanges such as BitMax, Mycelium, ShapeShift, Guarda, Coinomi, ChangeNOW and others.
Disclaimer: This is a paid post and must not be considered as news/advice.