FIO — All of Your Blockchain Accounts in One Place
ChangeNOW, the non-custodial cryptocurrency exchange service that offers limitless swaps for more than 200+ currencies, is happy to announce the integration of FIO protocol into its exchange process. Now anyone with an FIO address can use it instead of entering their usual blockchain wallet address — which might be hard to remember and easy to mistype.
Let’s see what FIO protocol is and how it makes crypto transactions easier.
Do You Remember Your Bitcoin Address?
As we all know, most blockchain addresses are very hard to read for a human. This problem comes from the blockchain’s origin — cryptography. It’s not easy to remember or dictate even one Bitcoin address. Well, what if you have 5, 10, or 20 addresses? The only thing that might help is having a photographic memory. Unfortunately, it’s not a widespread trait.
There were some attempts to solve this problem. For instance, EOS introduced short case-insensitive addresses made up from letters from a to z and numbers from 1 to 5. However, conveniently readable wallets for EOS are usually created manually; besides EOS, there are thousands of other coins out there.
How do you solve this problem then?
At last, the FIO protocol came into play. It allows to use human-readable and memorable identifiers like “[email protected]” or “[email protected]”. Therefore, it becomes possible to store public addresses of different blockchains under one identifier and share them within all FIO-enabled products.
Thus, there’s no need to remember wallets addresses and input them manually. Moreover, now it’s not necessary to even know them! If authorized by the transaction participants, the addresses are exchanged via the FIO identifier without any need to expose them.
FIO isn’t a wallet and it doesn’t integrate into the blockchain — in fact, blockchains don’t have to know about its existence . It’s just a usability layer that can be used to make transactions simple for the end-user. In any application or site integrated the FIO Protocol, the FIO identifier is enough to provide the necessary public address — if it’s linked to your FIO address.
In addition, FIO has features such as FIO Request (which allows sending an invoice to a payer via the FIO address) and FIO Data enabling transaction metadata. Thus, FIO appears to be an eCommerce-ready product allowing to create versatile invoices that suit the needs of any business.
ChangeNOW Integrates FIO protocol
ChangeNOW.io, a non-custodial instant exchange service, has announced the new option of adding a FIO protocol. Now any user with a unique FIO address can use it instead of alphanumeric strings (usual blockchain addresses). Simply enter the FIO identifier into the Recipient Wallet field when performing an exchange. There will be an immediate funds transfer to your cryptocurrency wallet.
ChangeNOW, as one of the leading non-custodial instant exchanges on the market, is monitoring all prospective trends in digital finance. It has expressed its interest in FIO from the very beginning of this project. Thus, ChangeNOW is at the forefront of services that have established integration with the FIO Foundation. At the moment, every user can enjoy access to this highly convenient protocol. With FIO integrated, crypto swaps on the platform become even faster and easier.
The Foundation for Interwallet Operability (FIO) is a consortium of leading wallets, exchange, and crypto payment processors supporting the FIO Protocol. The FIO Protocol is a decentralized service layer that removes the risk, complexity, and inconvenience of sending and receiving tokens and coins across any blockchain. It’s not a wallet, so it doesn’t compete with other blockchains. It would be more precise to say it improves the user experience.
ChangeNOW is one of the top non-custodial cryptocurrency exchange platforms with more than 200+ currencies available. Also, it’s easy to use and has no upper exchange limit. Finally, it doesn’t require registration on site and processes transactions at the best rates.