PRESS RELEASE. FIO Protocol, the main decentralized answer for world blockchain usability, has introduced the launch of FIO Domain wrapping on the Polygon blockchain. Wrapping is the method of taking a token from one blockchain and making it accessible to be used on one other. This launch strikes FIO Protocol into the $31.4 billion NFT market by enabling customers to purchase, promote, and commerce their FIO Domains as ERC-721 NFTs on all Polygon-enabled marketplaces.
Founded in 2019, FIO Protocol gives NFT domains that grant customers full custody of their decentralized digital identification. FIO Domains are used to customise FIO’s flagship product, FIO Crypto Handles, permitting customers to personalize their decentralized digital identification entrance to again with out requiring using a standardized top-level area (e.g. username@customdomain). At the time of writing, FIO Protocol has registered almost 1 million FIO Crypto Handles, which may be mapped to any sort of cryptocurrency pockets and used as a single, user-friendly identifier rather than prolonged crypto pockets addresses.
Eric Butz, VP of Engineering, FIO Protocol: NFTs have huge potential to disrupt how inventive industries function and other people management their Web3 identities. FIO Domain NFTs enable customers to totally customise their Web3 identification by creating a customized FIO Crypto Handle to switch advanced pockets addresses with a human-readable identify. FIO Crypto Handles can be utilized to ship, obtain, request, and even securely signal any sort of crypto transaction as a solution to simplify the cryptocurrency expertise in help of mass adoption. Launching a wrapping answer on Polygon expands entry to our FIO Domains and strikes FIO Protocol immediately into the quickly rising decentralized identification market.
All FIO Domains are non-fungible tokens, which implies they’re secured by non-public keys on the FIO blockchain and may be freely transferred between accounts, customers, and wallets by the non-public key holder. The launch of FIO Domain wrapping scales the acquisition, sale, and commerce of FIO Domains to the extensively adopted Polygon blockchain, an Ethereum layer two scaling answer with greater than 135 million distinctive pockets addresses and 1.8 billion transactions as of January 2023.
To get began with FIO Domains wrapped on Polygon, go to the FIO Dashboard or watch the demo video right here.
Future updates for FIO Protocol will likely be introduced by way of the official FIO Protocol Twitter account and FIO Blog. To chat with the crew, be a part of FIO on Discord.
FIO, the Foundation for Interwallet Operability, is a decentralized consortium of blockchain organizations and neighborhood members supporting the continued improvement, integration, and promotion of the FIO Protocol. The protocol is an open-source, decentralized usability answer that works throughout all blockchains, and makes use of human-readable Crypto Handles to switch the complexity, threat, and inconvenience that comes with blockchain-based transactions utilizing public addresses. FIO Protocol is constructed on the FIO Chain, a dPoS blockchain fueled by ecosystem utilization of the FIO Token ($FIO).
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