The FIO protocol can sound like a pretty new thing to many people, and that’s right, as this technology is pretty new to the world of the blockchain. The FIO protocol solves many of the problems and inconveniences that typical crypto users have and provides a simple solution that is designed to change the process of sending transactions between users. Let have a look at this in an interview with Luke Stokes, FIO Managing Director.
| What is FIO protocol and what is it designed for?
The FIO Protocol 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.
| In a few words, how would you describe the FIO protocol for crypto newbies?
The FIO Protocol is making crypto products easier so anyone can use them. It does this through human readable FIO Addresses (like “[email protected]”), FIO Requests (so I can send a request for funds to someone else to pay rent, split lunch, etc), and FIO Data (which allows meta data to be added to any transaction, regardless of if the token used supports memos).
| How to create your own address / username (on a so-called domain) ? Which wallets support the FIO protocol?
You can register an address today using wallets like Edge and Guarda with a growing list you can track here: https://fioprotocol.io/ecosystem/
| After creating a FIO address, for example a [email protected], the user can associate all his/her other public addresses with this address, e.g. Bitcoin, SmartCash, and others addresses and then send / receive coins using this username only?
Yes, that’s correct. The goal of FIO is to eliminate the need to ever think about public addresses and just have a simple, consistent experience for all cryptocurrencies.
| What do you think this technology will bring to the world of the blockchain now? How popular is it going to be?
I’ve been in the blockchain space for over seven and half years now and one of the main issues I see again and again is the poor user experience most people have with blockchain and cryptocurrency. We will never reach mass adoption unless we solve this problem. Much like the Internet was around for ten years prior to HTTP creating a possibility for the streamlined user-experience of the world-wide-web and web browsers, I think the FIO Protocol will create a consistent user experience leading to mass adoption of cryptocurrency. Because it is a decentralized protocol, I think it can bridge the gap between various competing cryptocurrency tribes, service providers, exchanges, wallets, and payment gateways to become the industry standard. I think it can bring in businesses that are currently evaluating cryptocurrency and blockchain but haven’t yet seen a solution to the usability problem that FIO solves.
| The SmartCash team going to do a giveaway of 100 addresses with @smart domain to give users a new blockchain experience and introduce them to the new and convenient technology. What are the steps for users to get their unique address on a @smart domain?
You can click a link directly within the Edge Wallet to select your FIO Address name on the smart domain. It’s that easy! Once you have your address, you can assign it to whatever cryptocurrency addresses within your Edge wallet you want.