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FIO
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FIO Protocol
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About FIO Protocol

What is FIO Protocol (FIO)?

The Foundation for Interwallet Operability (FIO) is a consortium of wallets, exchanges and cryptocurrency payment processors created to support the development of the FIO protocol. The project`s aim is to make the decentralized future of value transfer simple and risk-free.

There is a long-standing problem: the process of sending tokens and blockchain coins in a decentralized way is too complicated and risky for most non-technical people.

FIO is responsible for leading the development of the protocol, which is a decentralized open source solution, and which was developed as a completely independent platform from blockchain and applications, which can constantly evolve and grow to help solve many problems that exist in all blockchains.

The FIO protocol is not a wallet and does not compete with existing blockchains. 

Who created the FIO Protocol (FIO)?

The project was launched on April 2, 2020 by Luke Stokes and Paul Puaino with a whole team of outstanding developers.

From the very beginning, the project was supported by the leaders of the blockchain industry, and the FIO protocol is being built with their direct participation. In addition, the FIO protocol's economic model ensures that those companies that invest time, energy and resources in integrating the protocol will be rewarded with a better user interface for their customers in addition to receiving financial benefits from the protocol itself.

What is unique about FIO Protocol (FIO)?

FIO is unique in three main functions:

FIO addresses are human-readable names that are linked to the user's wallet with FIO support. Unlike other "wallet naming" solutions, FIO addresses work immediately with each block chain and will be available for every wallet, exchange and cryptocurrency payment processor. FIO addresses do not require any manual matching, since they are linked to your wallet, which can happen automatically and with full privacy control using the unique encryption mechanism of the FIO counterparty.

FIO requests - you may not think about this often, but in the world of credit / debit cards, almost every transaction starts with a request. When you go to buy something in the store, the cash register asks for the amount of your bill, which you then allow to pay by swiping/inserting the card. For an e-commerce transaction, the request takes the form of an order basket, which you see when placing an order. Cryptocurrency does not have such a mechanism, but FIO requests will include such a process, and all this is done in a wallet and is completely decentralized.

FIO data - some blockchains have a "memo" field but not all of them. When it comes to the widespread adoption of cryptography, standardized metadata is needed that can accompany transactions of any type. FIO data is an encrypted method of storing simple messages in complex data structures (such as an order basket or an invoice) in a chain, available for reading only to two counterparties.

How many FIO Protocol (FIO) tokens are in circulation?

With the maximum offer - 493,952,494FIO, there are 339,978,103 tokens in circulation today.

At the moment, the price of FIO is 0.181766 USD, with a daily trading volume of 7,747,622 USD and a market capitalization of 61,796,460 USD. 

How is the FIO Protocol network protected?

The FIO protocol is a blockchain that is protected by the Delegated Proof-of-Stake (DPoS) consensus algorithm, with full privacy control using the FIO counterparty's unique encryption mechanism.

Summary

  • To own your crypto assets, you need to manage your own private keys.
  • Ledger hardware wallets make private key management easy and secure.
  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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