Starting today, all of our Wallet users are able to reserve a unique FIO Address on the :Coinomi domain.
What is FIO?
The Foundation for Interwallet Operability (FIO) is a consortium of over 25 leading companies in the crypto ecosystem. Including many diverse wallets and exchanges, the foundation is set out to create a new blockchain standard to revolutionize blockchain usability.
The FIO Protocol is a new, decentralized, open-source blockchain protocol that makes it easier and less risky to use blockchain tokens and coins by removing the requirement of a long hexadecimal address string and replacing them with a human-readable address/username such as "george:coinomi". This single and simple address will work for every coin forever, all while keeping your valued privacy! Say goodbye to complicated addresses like "33VqaEhLwp5NQmdZfuvKF7urJvLWvNa3Zf" that anyone can see and track.
Why should I use FIO?
First, the FIO Protocol is much more than just human-readable wallet addresses. You will be able to send and receive payment requests as well as set-up recurring payments in the future once the FIO protocol grows along with a whole host of other benefits.
Why is Coinomi supporting FIO?
We are always pushing for adoption of blockchain technology but for this to happen, some large usability problems must be addressed. FIO is addressing these issues and wallets/exchanges can greatly increase usability during transactions across all blockchains by utilizing the protocol taking away complexities of the blockchain. Here is what our CEO had to say;
Ease of use is one aspect that will define cryptocurrencies’ future. The FIO Protocol puts an end to vague addresses by replacing them with human-readable aliases across different services and blockchains — a challenging technological task and a huge step toward mass adoption. - George Kimionis
How can I reserve a FIO username on the Coinomi wallet?
Reserving a FIO username is very easy to do. All you need to do is add the FIO wallet from the 'Add coins' menu of your Coinomi wallet and press the banner inside. You will be directed to FIO's registration page where you can reserve your own address like "michael:coinomi".
* During the pre-sale, address reservations have a discounted cost of 2USDC (a 60% discount) which includes 1-year username hosting post-mainnet launch and a number of free transactions (there is an annual fee to maintain your FIO address)
* You can also bid for your own domain name for your business (sorry, the "coinomi" domain is already taken). FIO domains will be freely tradeable/sellable as a non-fungible token (NFT) soon after FIO mainnet launch.