NEWS RELEASE. FIO Protocolthe leading decentralized option for worldwide blockchain functionality, has actually revealed the launch of FIO Domain covering on the Polygon blockchain. Covering is the procedure of taking a token from one blockchain and making it offered for usage on another. This launch moves FIO Protocol into the $31.4 billion NFT market by allowing users to purchase, offer, and trade their FIO Domains as ERC-721 NFTs on all Polygon-enabled markets.
Established in 2019, FIO Protocol provides NFT domain that give users complete custody of their decentralized digital identity. FIO Domains are utilized to personalize FIO’s flagship item, FIO Crypto Handles, enabling users to individualize their decentralized digital identity front to back without needing using a standardized high-level domain (e.g. [email protected]). At the time of composing, FIO Protocol has actually signed up almost 1 million FIO Crypto Handles, which can be mapped to any type of cryptocurrency wallet and utilized as a single, easy to use identifier in location of prolonged crypto wallet addresses.
Eric Butz, VP of Engineering, FIO Protocol: NFTs have massive capacity to interfere with how imaginative markets run and individuals manage their Web3 identities. FIO Domain NFTs enable users to totally personalize their Web3 identity by producing an individualized FIO Crypto Handle to change intricate wallet addresses with a human-readable name. FIO Crypto Handles can be utilized to send out, get, demand, and even safely sign any kind of crypto deal as a method to streamline the cryptocurrency experience in assistance of mass adoption. Introducing a covering service on Polygon broadens access to our FIO Domains and relocations FIO Protocol straight into the quickly growing decentralized identity market
All FIO Domains are non-fungible tokens, which implies they are protected by personal secrets on the FIO blockchain and can be easily moved in between accounts, users, and wallets by the personal essential holder. The launch of FIO Domain covering scales the purchase, sale, and trade of FIO Domains to the commonly embraced Polygon blockchain, an Ethereum layer 2 scaling service with more than 135 million distinct wallet addresses and 1.8 billion deals since January 2023.
To begin with FIO Domains covered on Polygon, check out the FIO Dashboard or view the demonstration video here.
Future updates for FIO Protocol will be revealed by means of the main FIO Protocol Twitter account and FIO Blog. To talk with the group, sign up with FIO on Discord.
FIO, the Structure for Interwallet Operability is a decentralized consortium of blockchain companies and neighborhood members supporting the continuous advancement, combination, and promo of the FIO Protocol. The procedure is an open-source, decentralized use service that works throughout all blockchains, and utilizes human-readable Crypto Handles to change the intricacy, threat, and trouble that features blockchain-based deals utilizing public addresses. FIO Protocol is constructed on the FIO Chain, a dPoS blockchain sustained by community usage of the FIO Token ($FIO).
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