Press release
PRESS RELEASE. FIO protocol, the leading decentralized solution for global blockchain usability, has announced the launch of the FIO domain wrapper on the Polygon blockchain. Wrapping is the process of taking a token from one blockchain and making it available for use on another. This launch brings the FIO Protocol to the $31.4 billion NFT market by allowing users to buy, sell, and trade their FIO domains as ERC-721 NFTs in all Polygon-enabled marketplaces.
Founded in 2019, FIO Protocol offers NFT domain names that give users full custody of their decentralized digital identity. FIO domains are used to customize FIO’s flagship product, FIO Crypto Handles, allowing users to customize their end-to-end decentralized digital identity without the need for a standardized top-level domain (e.g., username). user@customdomain). As of this writing, the FIO Protocol has registered almost 1 million FIO Crypto Handles, which can be assigned to any type of cryptocurrency wallet and used as a user-friendly unique identifier instead of long cryptocurrency wallet addresses. .
Eric Butz, vice president of engineering, FIO protocol: NFTs have enormous potential to disrupt the way creative industries operate and people control their Web3 identities. FIO Domain NFTs allow users to fully customize their Web3 identity by creating a custom FIO cryptographic identifier to replace complex wallet addresses with a human-readable name. FIO Crypto Handles can be used to securely send, receive, request, and even sign any type of crypto transaction as a way to simplify the cryptocurrency experience in support of mass adoption. Launching a wrapper solution on Polygon broadens access to our FIO domains and brings the FIO protocol directly to the rapidly growing decentralized identity market..
All FIO domains are non-fungible tokens, which means they are protected by private keys on the FIO blockchain and can be freely transferred between accounts, users and wallets by the private key holder. The launch of the FIO Domain Wrapper scales the buying, selling and trading of FIO domains to the widely adopted Polygon blockchain, an Ethereum layer two scaling solution with over 135 million unique wallet addresses and 1.8 billion transactions from January 2023.
To get started with Polygon wrapped FIO domains, visit the FIO Dashboard or watch the demo video here.
Future updates to the FIO protocol will be announced via the official FIO protocol Twitter account and the FIO blog. To chat with the team, join FIO on Discord.
About FIO
FIO, the Foundation for Cross-Wallet Operation, is a decentralized consortium of blockchain organizations and community members that support the continued development, integration, and promotion of the FIO Protocol. The protocol is an open source decentralized usability solution that works on all blockchains and uses human-readable Crypto Handles to replace the complexity, risk, and inconvenience that comes with blockchain-based transactions using public addresses. The FIO protocol is based on the FIO Chain, a dPoS blockchain powered by the use of the FIO Token ($FIO) ecosystem.
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