Wrapped FIO Protocol Coin Review : Is It Good Or Bad Coin Read Our Article

About Wrapped FIO Protocol Coin

Wrapped FIO Protocol Coin 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 Protocol 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 Protocol’s existence.

Wrapped FIO Protocol Coin Point Table

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.

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.

Storing, Transferring, and Selling FIO Domains

All FIO Domains are non-fungible tokens, which means they can be freely transferred between accounts, users, and wallets as with any other cryptoasset. Future functionality will enable selling a FIO Domain through use of a built-in escrow smart contract, in which both the domain owner and the buyer deposits their respective NFT and payment before transfer of the domain to the new owner is executed. It is anticipated that secondary marketplaces for domain listings will be developed by the community.

FIO Domains and Decentralized Domain Efforts

A number of projects are underway with the goal of creating a decentralized domain name space system for the World Wide Web. Should any of those projects become recognized in the community as the primary decentralized domain space, then the Foundation’s vision is that the FIO Protocol will hopefully endeavor to work collaboratively with them although such a decision will be up to the protocol Block Producers.

Specifically, FIO domains do not currently have the concept of a Top Level Domain (e.g., .com, .org, .net, .io) but such a construct could be added in the future to the notion of a FIO Crypto Handle and a unique TLD for FIO Crypto Handles registered for the FIO Protocol enabling FIO Crypto Handles to work seamlessly with a decentralized domain name space.

Why Choose Wrapped FIO Protocol Coin?

FIO Crypto Handle

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 Data

A encrypted metadata that can be attached to any transaction, such as a simple memo, structured data (like an order cart) or hashes and references to off-chain data. FIO Data can accompany a send of funds directly to a wallet, or be attached to a FIO Request.

Human-meaningful

This allows users to initiate transactions using human-readable and memorable identifiers like “john@edgewallet” or “jane@gold”.

Decentralized

A powered by a public blockchain that does not require a centralized solution of a trusted third party.

Secure

A enables transactions to be exchanged between parties in a secure way. All FIO Protocol transactions require a FIO private key, which is stored in the user’s wallet.

Where Can You Buy Wrapped FIO Protocol Coin?

Tokens Can Be Purchased On Most Exchanges. One Choice To Trade Is On Uniswap (V3), As It Has The Highest WFIO/WETH. e Trading Volume, $8,947 As Of February 2021. Next is OKEx, With A Trading Volume Of $6,180,82. Other option To Trade Include WFIO/WETH And Huobi Global. Of Course, It Is Important To Note That Investing In Cryptocurrency Comes With A Risk, Just Like Any Other Investment Opportunity.

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Wrapped FIO Protocol Coin Supported Wallet

Several Browser And Mobile App Based Wallets Support Wrapped FIO Protocol Coin. Here Is Example Of Wallet Which Wrapped FIO Protocol Coin – Trust Wallet For Hardware Ledger Nano.

FAQ Of Wrapped FIO Protocol Coin