What Is FIO Protocol (FIO)?

What Is FIO Protocol (FIO)? Complete Guide Review About FIO Protocol.

What Is FIO Protocol (FIO)?

The native token which is used to buy services and resources from the FIO Protocol and to compensate block producers (those that run the network using their own server infrastructure). The FIO is a decentralized service layer that bridges the gap between crypto endpoints such as wallets, exchanges, crypto payment processors, and any other application in which crypto assets are held and/or transferred. The FIO is not a wallet.

Rather, it integrates into existing products as a usability layer that creates an improved, homogeneous user experience for all blockchain tokens and coins by providing a layer of data and confirmations about transactions on other blockchains. The FIO Protocol does not compete with, integrate with nor interfere with any other blockchain. And it does not send transactions to or from other blockchains. Technically speaking, other blockchains are not aware of the FIO existence.

FIO Protocol Storage Key Points

Coin BasicInformation
Coin NameFIO Protocol
Short NameFIO
Circulating Supply485,698,221.05 FIO
Total Supply818,118,769
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

What are the Primary Features of the FIO Protocol?

FIO Crypto Handle (aka FIO Address) – a human-readable wallet identifier (such as john@edge or alice@gold) which eliminates the need to see, or even know of, blockchain public addresses. FIO Crypto Handles automatically support any token in a wallet/exchange, and requires no manual mapping.

FIO Requests – the ability to request funds from any other wallet, utilizing in-wallet/app notifications and simple approvals. FIO Requests are fully encrypted between counter-parties, and do not interfere with the actual underlying blockchain transactions.

FIO Crypto Handles

FIO Crypto Handles (aka FIO Addresses) act as the human-readable wallet identifier for users on the FIO Protocol. They are necessary for users to utilize all the capabilities of the FIO Protocol, but also serve as a replacement for complicated public addresses across all tokens and coins in the user’s wallet.

The FIO Crypto Handle itself and all subsequent interactions with the FIO Protocol are controlled via a FIO private key. Loss of access to this private key suffers the same consequences as with any crypto asset – the FIO Crypto Handle will no longer be usable by the original owner, nor can it be retrieved.

How Does a FIO Crypto Handle map to public addresses?

Applications that enable users to manage their private keys (such as crypto wallets) which integrate the FIO Protocol have two options on enabling mapping of associated public addresses to the human readable FIO Crypto Handle. First, the product may automatically map all public addresses enabled in the product to the FIO Crypto Handle by signing a mapping transaction on the FIO blockchain.

Second, the product may enable users to select which chains to map to their FIO Crypto Handle through a radio button or similar interface. In either of these implementations users never have to see nor interact with their public addresses to accomplish mapping.

FIO Domains

FIO Crypto Handles (aka FIO Addresses) consist of a username and a domain. While having a FIO Crypto Handle is necessary to use the FIO Protocol, users do not need to own their own FIO Domain. By default, many applications (especially wallets and exchanges) have a domain available as a default for their users. For example, the mobile wallet, Edge Wallet, has @edge domain as a default for their users.

Users which desire their own unique FIO domain may register one that is available as a non-fungible token that they control and own. Outside of centralized services (which own all user private keys, including FIO Crypto Handles), users are not obligated to use a specific domain for their FIO Crypto Handle, regardless of the wallet they choose to use.