ChangeNOW, the non-custodial cryptocurrency exchange service that offers limitless swaps for more than 200+ currencies, is happy to announce the integration of FIO protocol into its exchange process. Now anyone with an FIO address can use it instead of entering their usual blockchain wallet address – which might be hard to remember and easy to mistype. Let’s explain what FIO protocol is and how it makes crypto transactions easier.
Do you remember your Bitcoin address?
As we all know, most blockchain addresses are very hard to read for a human. This problem comes from the blockchain’s origin – cryptography. Remembering or dictating a Bitcoin address is not an easy task. And when you have 5, 10, 20 such addresses? The only thing that might help is having a photographic memory, which is a trait not a lot of people possess.
Some coins have tried to solve this problem. For instance, EOS introduced easy-to-read addresses, 12 characters long, made up from letters from a to z and numbers from 1 to 5, without lower/upper case. However, conveniently readable wallets for EOS need to be created manually, and besides EOS, there are thousands of other coins out there. So how do you solve this problem?
FIO’s solution
And then the FIO protocol came into play. It allows using human-readable and memorable identifiers in the format of “jack@edge” or “mary@smith”. This makes it possible to store public addresses of different blockchains under one identifier and share them within all FIO-enabled products.
Thus, there is no need not only to constantly have wallets addresses at hand and input them manually, but also to even know about them. If authorized by the transaction participants, the addresses are exchanged using FIO identifiers without any need to expose the addresses themselves.
FIO is not a wallet and it doesn’t integrate into the blockchain – in fact, blockchains do not have to know about the existence of FIO, it is just a usability layer that can be used to make transactions simple for the end-user. In any application or site that has integrated the FIO Protocol, the FIO identifier is enough to provide the public address that is needed – if it is linked to your FIO address.
The other two FIO features are FIO Request, which allows sending an invoice to a payer using FIO address, and FIO Data, that allows adding metadata for the transaction. This makes FIO an eCommerce-ready product, allowing for the creation of versatile invoices that suit the needs of any business.
ChangeNOW integrates FIO protocol
ChangeNOW.io, a non-custodial instant exchange service, has announced the integration of FIO protocol into its functionality. Now any user that has created a unique FIO address can use it instead of alphanumeric strings that usually are blockchain addresses. Simply enter the FIO identifier into the Recipient Wallet field when you are performing an exchange, and the funds will be channeled to the cryptocurrency wallet you needed.
ChangeNOW, as one of the leading non-custodial instant exchanges on the market, is monitoring all prospective trends in digital finance and has expressed interest in FIO from the very beginning of the project. Thus, ChangeNOW is at the forefront of services that have established integration with the FIO Foundation and offer users to appreciate the convenience of this protocol. With FIO integrated, crypto swaps on the platform become even more fast and easy.
About FIO
The Foundation for Interwallet Operability (FIO) is a consortium of leading wallets, exchange, and crypto payment processors supporting the FIO Protocol — a decentralized service layer that removes the risk, complexity, and inconvenience of sending and receiving tokens and coins identically across every blockchain. The FIO Protocol is not a wallet and does not compete with other blockchains, rather, it makes the user experience better across every wallet and every blockchain.
About ChangeNOW
ChangeNOW is one of the top non-custodial cryptocurrency exchange platforms. It has more than 200+ currencies available, is easy to use and has no upper limit on exchange operations. It does not require registration on site and processes the transactions at the best rates available.
Amazing