Experts, investors and technologists all agree. Web3 technology and cryptocurrency will only be widely adopted when it’s intuitive to use and trustworthy. Right now it’s difficult to learn, use, and mistakes can be very expensive. But help is on the way.
ioPay Partners with FIO to Make Using Crypto a Pleasure
IoTeX is founded on a commitment to open source, open standards, and interoperability among blockchains. FIO - the Foundation for Interwallet Operability, is a decentralized consortium of blockchain organizations and community members supporting the ongoing development, integration, and promotion of the FIO Protocol. FIO lets people create one identity for all their crypto.
Probably the best example of what FIO can enable is sending any crypto tokens. Instead of copying and pasting a long string of letters and numbers into a field, hitting Send, and hoping your money goes where you want it to... FIO makes it simpler and removes the stress of inputting long streams of numbers and worrying about interoperability.
“FIO Crypto Handles are a single identifier that eliminates the need to see, or even know about, blockchain public addresses. It’s simple to register, easy to use, and works with every token/coin automatically.” - https://fioprotocol.io/
The FIO x ioPay integration will enable users to register FIO Crypto Handles and custom domains, FIO Receive, FIO Send and add Support for FIO Token.
How will ioPay be improved?
Once IoTeX integrates with FIO, here’s some of the functionality ioPay users will have at their fingertips:
- Human-meaningful crypto identities: allows users to initiate transactions using human-readable and memorable identifiers like “john@edgewallet” or “jane@gold”
- Private: sensitive counterparty information, including public addresses and metadata, can be encrypted on the blockchain
- Interoperable: once integrated into a wallet, the FIO Protocol works with any blockchain and cryptocurrency without any integration to those chains
- FIO Send: FIO Send is an integration that will give users the ability to easily withdraw and send any cryptocurrency without the stress of copying and pasting long string public addresses that users of this and other wallets are accustomed to having to use. FIO Send replaces that long string public address that is vulnerable to errors and other exploits with a simple, human-readable address known as a FIO Crypto Handle. The long string public key address is replaced with the FIO Crypto Handle in the format of username@domain or, for example, janedoe@iopay.
IoTeX is building a MachineFi economy where we expect the majority of transactions to be machine-to-machine and automated. But people will always be part of the economy - even a machine economy. So part of our job is to eliminate complexity for the non-expert. Everyday people don’t want to know the inner workings of this technology. They just want it to easily and reliably do what it’s supposed to do.
FIO is all about ease of use and reliability. As we implement our partnership with FIO, we’re eager to show you all the things you’ll be able to do. Simply.