PRESS RELEASE. FIO Protocol, the main decentralized resolution for world blockchain usability, has introduced the launch of FIO Area wrapping on the Polygon blockchain. Wrapping is the method of taking a token from one blockchain and making it obtainable 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.
Based in 2019, FIO Protocol affords NFT domains that grant customers full custody of their decentralized digital id. FIO Domains are used to customise FIO’s flagship product, FIO Crypto Handles, permitting customers to personalize their decentralized digital id entrance to again with out requiring using a standardized top-level area (e.g. username@customdomain). On the time of writing, FIO Protocol has registered practically 1 million FIO Crypto Handles, which may be mapped to any type of cryptocurrency pockets and used as a single, user-friendly identifier instead of prolonged crypto pockets addresses.
Eric Butz, VP of Engineering, FIO Protocol: NFTs have monumental potential to disrupt how inventive industries function and other people management their Web3 identities. FIO Area NFTs enable customers to totally customise their Web3 id by creating a customized FIO Crypto Deal with to switch advanced pockets addresses with a human-readable title. FIO Crypto Handles can be utilized to ship, obtain, request, and even securely signal any kind of crypto transaction as a technique to simplify the cryptocurrency expertise in assist of mass adoption. Launching a wrapping resolution on Polygon expands entry to our FIO Domains and strikes FIO Protocol immediately into the quickly rising decentralized id market.
All FIO Domains are non-fungible tokens, which implies they’re secured by personal keys on the FIO blockchain and may be freely transferred between accounts, customers, and wallets by the personal key holder. The launch of FIO Area wrapping scales the acquisition, sale, and commerce of FIO Domains to the broadly adopted Polygon blockchain, an Ethereum layer two scaling resolution 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 probably be introduced through the official FIO Protocol Twitter account and FIO Weblog. To talk with the workforce, be part of FIO on Discord.
FIO, the Basis for Interwallet Operability, is a decentralized consortium of blockchain organizations and neighborhood members supporting the continued growth, integration, and promotion of the FIO Protocol. The protocol is an open-source, decentralized usability resolution 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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