There is no denying that most crypto addresses are not human-readable and I doubt that one can memorize a long string of addresses with various characters in it.
Fortunately, there is a protocol launched in 2020 that is providing solutions to that by simplifying wallet addresses through the use of handles.
Enter FIO Protocol.
What is it? Read on!
FIO Protocol
FIO is a decentralized, open-source usability solution that simplifies crypto transactions in all chains (any wallet, any blockchain, any Web 3 application) through the use of Crypto Handles that replace complex wallet addresses.¹
Apparently, the mission of FIO Protocol is to make the use of cryptocurrency easy across every type of token and coin "by removing the opportunity for human error when transacting with long-string wallet addresses on different blockchains and network types."²
The FIO Protocol is powered by FIO Chain, a Layer 1, fully decentralized public Delegated Proof of Stake (DPos) blockchain that is purpose-built to help wallets hide the complexity of blockchain transactions across all networks. It is specifically designed to support the FIO Protocol.³
Apart from its own application dashboard, FIO's ecosystem is growing with its over 100 partners (wallets, exchanges, marketplaces, payment processors, gaming platforms, e-commerce websites, and block producers) including Binance, Coinomi, Changelly, WhiteBIT, Bitcoin.com, MEXC, Trust Wallet, Monero.com, OpenSea just to name a few.
FIO Crypto Handles
These are a single, secure, customizable handle or identifier that replaces any public wallet address, making any transaction on any chain or network, as easy as sending an email. It eliminates the need to see or even know about blockchain public addresses. It is very simple to register, easy to use, and works with every token or coin automatically.”⁴
FIO Crypto Handles are human-readable wallet names in the format username@domain that can be mapped to multiple public wallet addresses and used to replace those public wallet addresses when sending, receiving, requesting, or signing any type of cryptocurrency.
FIO Crypto Handles are nested NFTs secured by private keys on FIO Chain, with ownership and mapping abilities controlled by the private key holder. They have no renewal fee and come with an initial bundle of 100 transactions.⁵
Key Highlights of FIO Handles
One can send or receive crypto using a single username across any token, chain, or wallet. For example, instead of sending crypto to my long wallet address (i.e: 0xbgk31sirkg1pre....), you can just send it to farmgirl@fearless
The handles do not have any expiration. Once you get one, it is yours forever (unless you lose your access/password to your FIO account).
It is widely adopted. Over 900k handles are registered and more than 100 exchanges and wallets use it.
How to Create FIO Crypto Handle
Go to https://app.fio.net/ and type your desired handle in the field provided. Click on "Get it" and wait for the page to load the available or suggested handles and domain names.
Some are free and others are premium and should you want one of them, you will have to pay. You can even create your custom ending (with a corresponding fee, of course).
Do note that one FIO handle is allowed per user.
Once you choose which handle you want, click on the "cart" symbol to add it to your cart and check it out.
If you don't have an account with FIO, you will be prompted to sign up. Otherwise, you click on "Sign in" to continue with the process of acquiring your FIO handle.
Do note to write down your login information and password in a safe place. If you lose it, you will lose your FIO handle permanently. There is no way to retrieve it.
Continue with the process. The system will create your handle and give you an acknowledgment with the transaction details and order number.
You will also be asked to create a PIN which you will use when signing in and approving transactions. You can also set "Password Recovery" in the succeeding window.
Once you're done, you will be presented with your dashboard where you can add popular currencies and link your public wallet addresses.
Conclusion
The idea of FIO Crypto Handles is like the wallet addresses we have on Hive. They are readable which makes transacting easy and simpler. No need to be copy-pasting long addresses which can be daunting, especially for the newbies.
I am yet to try performing further transactions from my newly-created handle but I will surely share any experience next time or I may update this post to add any.
The fact that FIO handles work with various networks or blockchains is pretty awesome.
For infotainment only. DYOR. Nothing in this publication is an endorsement of the service and or application.
Lead image edited on Canva. Logo/s & images from Bitdegree and Fio. No copyright infringement intended. 19102023/11:30ph