The user-friendly, self-custody crypto wallet has provided users with a new way to participate in the FIO network as it enters a new phase of its evolution
Edge, the self-custody cryptocurrency wallet, has officially added support for FIO staking in its latest release. FIO staking is a recently launched option for FIO token holders to participate in the network’s on-chain governance and earn yield. This integration marks Edge’s newest initiative in support of the FIO network, as well as the creation of an additional interface within the platform for users to earn yield on their assets.
FIO (Foundation for Interwallet Operability) is the native cryptocurrency of the FIO Protocol, an open-source, decentralized usability layer solution running on a Delegated Proof-of-Stake (DPos) blockchain. FIO is a consortium of wallets, exchanges, and crypto payment processors supporting the FIO protocol. This protocol is designed to improve the user experience of sending and receiving crypto transactions and interacting with decentralized applications.
Latest Fintech News: FOCUS Investment Banking Represents Stratum Technology In Its Sale to Open Systems Technologies, Inc
FIO Protocol provides users with a new way to transfer cryptocurrencies. Instead of having to use complex wallet addresses, users can simply register a FIO address and use readable handles, similar to email addresses, to initiate transactions. In some ways, the simplified domain concept is similar to the .eth names offered by Ethereum Name Service, or Unstoppable Domains’ .crypto, .wallet, or .blockchain addresses. However, there is a core difference with FIO Protocol in that its network focuses on user privacy and interoperability between different blockchains.
Currently, Edge users can create their FIO addresses for free without any registration fees within the platform. By adding support for FIO staking, Edge is offering users a new way to interact with the protocol and contribute to further adoption of cryptocurrency. With Edge’s commitment to user experience as it relates to wallet creation and interaction with blockchain protocols, the integration of FIO staking only improves said interactions by dramatically expanding on the usability of the FIO asset.
Latest Fintech News: FNBC Bank & Trust Makes Business Banking Easy With New Digital Lending Capabilities
Although Edge was designed for the everyday user, the platform still offers a level of functionality that advanced enthusiasts can appreciate. Thanks to its robust infrastructure and readily available exchange integrations that are encompassed in an easy-to-use, self-custody application, Edge has now introduced another way to be a part of the FIO network as it enters a new phase of its evolution.
“Paul Puey and the Edge team have been leading the way within the FIO consortium of wallets and exchanges that care deeply about improving the cryptocurrency user experience,” said Luke Stokes, managing partner of FIO.
“We’re very excited to have them as one of the first products to support FIO Token staking to close the loop on the FIO Protocol decentralized business model where the FIO chain economically supports, via fee distribution, those who secure the chain as validators, voters, foundational coordinators, and integrators.”
Latest Fintech News: PARSIQ Provides Blockchain Monitoring Technology To DeFi App, Plena Finance
[To share your insights with us, please write to sghosh@martechseries.com]
