The FIO Protocol is live and activated!
On April 2nd, the FIO Protocol was launched and activated by a community of over 21 block producers. Having the community launching a blockchain protocol in the midst of a collapsing world economy and a global pandemic isn’t exactly what we envisioned when we started down this road 1.5 years ago. In the midst of the chaos, however, we believe that there has never been a macro-environment in which cryptocurrencies and blockchain have been better positioned to thrive.
The community’s engagement with launching the FIO Protocol in the midst of this storm speaks volumes about the impact the protocol can have. Think of the things we’ve seen over just the last few weeks:
- Creation of massive amounts of fiat currency which is being handed out, arguably, in the biggest “airdrop” of currency in history
- Online censorship by social media platforms and some governments
- Systemic failures in distribution, supply chains, and coordination
- Physical fiat currency being declined as a form of payment at many retailers that are still open
- Cracks forming in retail banking — ranging from lack of access to physical cash, negative interest rates, and unprecedented monetary policy
Granted, blockchain and cryptocurrencies do not solve all these problems, but all over the world, blockchain projects and teams have been actively working on reimagining each of these failure points, and as society eventually pulls out of the quagmire of the existing pandemic, we need to have the tools ready for the people to opt-out of the traditional systems.
The next era of blockchain adoption is coming, but if crypto remains too hard for the regular individual, then none of these dreams come to fruition.
This is what the FIO Protocol is here to solve.
FIO Address and Domain Registration
The most common question we’ve received is on the timing of when FIO Address/Domain registrations open up again. The answer is….today! Users can already register domains by utilizing Trust Wallet (add the FIO Token, and you should see a prompt/link to the registration site). Soon, you’ll see rollouts of this feature in Edge, Guarda, Mycelium and Scatter Wallet (among others).
For FIO Address Presale Users
If you were a part of the FIO Address presale, your FIO Addresses and Domains have already been assigned to your FIO Public Key automatically. Your purchases are secured by your private key and nobody can seize them from you or reserve them. However, you may not have the ability to manage them until your wallet has completed partial integration of the FIO Protocol (many of which are in progress — the full list can be found on our Ecosystem page)
There have also been questions on domain marketplaces, transfer functionality, etc. All of these items are under active consideration, with a few of our community members already taking the lead on some solutions. Transfer functionality is already being actively worked on as our first FIP (FIO Improvement Proposal).
For Technical Users
If your wallet is currently in the process of integrating, you still can participate in reserving FIO Domains. You will need a wallet that has the FIO Token implemented already (which is any wallet that participated in the FIO Address Presale), at which point you need to obtain a FIO Public Key (akin to the same way you get a public address for Bitcoin in your wallet).
Then, proceed to the registration site, which will prompt you for that public key and provide you the ability to look up and register any non-reserved FIO Domain, payable with multiple cryptocurrencies.
With the launch of mainnet officially over — the FIO Protocol is now in the hands of the community. Under the MIT License, the FIO Protocol Github has now been made public, and we will be rolling out some structure around how to make pull requests and submit FIPs (FIO Improvement Proposals).
What is available to do now, and what’s coming?
As with any software, improvements and additional features are being added in on a rolling priority list. Some of these features are specific to the FIO Protocol itself, some need to be added in by the development teams of the FIO-enabled products, and some things are purely community-driven tools and initiatives.
Each FIO Ecosystem member is responsible for their own implementation of the FIO Protocol, though the Foundation has been working closely with a large number of our members to help them get over the finish line on integration. Expect more and more products to complete their integration over the coming weeks and months — several are already in the testing phase of their implementation.
What will I be able to do?
- Send crypto from any FIO-enabled wallet to any other FIO-enabled product using FIO Addresses
- Send/approve FIO Requests for any wallet which has completed that part of the integration
- Add and view FIO Data for any transaction
- Register FIO Addresses/Domains through the registration site using a variety of cryptocurrencies
What’s coming soonest?
- More integrations by FIO Ecosystem members
- The ability to transfer FIO Domains and FIO Tokens
- Friend-listing (the enhanced privacy layer for the FIO Protocol)
- More content :)
We are excited to be starting this journey towards mass adoption. As always, be safe with your crypto — don’t share private keys with anybody, don’t try transferring your entire life savings of crypto in your first FIO-enabled transaction. Be smart, be safe, and feel free to ask us questions.