FAQ

Questions on the Foundation

Who can be a FIO member?

Blockchain wallets, exchanges, crypto payment providers, companies which provide technologies used by those organizations, and any other entities involved in providing solutions that enable the movement of blockchain tokens/coins from one address to another. End users are encouraged to become engaged with the FIO Community and stay in touch on future opportunities, which will afford early opportunities to secure FIO Addresses and ways to contribute to the protocol itself.

Why is FIO a Foundation versus a company?

The FIO Protocol will ultimately be a completely open source, decentralized, trustless solution that can be used by the blockchain ecosystem. The development direction and roadmap of the FIO protocol must be driven by the community and, in particular, the wallets and exchanges which are the interface for users to the blockchains themselves. This is best accomplished through a Foundation structure whose purpose is to continue to advance the capabilities of the FIO Protocol for community benefit.

Who is currently involved in the FIO?

In addition of the primary involvement of FIO members for providing guidance and direction on the protocol, initial development and marketing of FIO and the FIO Protocol is being managed by Dapix - a venture-funded company. Dapix will ultimately transfer the FIO Protocol technology to the Foundation.

What benefits and requirements come with FIO membership?

Membership with FIO is currently completely free. Members providing solutions to end users enter into a Memorandum of Understanding with FIO, whereby they agree to engage in the community to help guide the project as well as to implement the FIO Protocol on their respective platforms. Members are given varying degrees of support from the FIO team based on the time frame in which they joined FIO. Early FIO members will receive significant free development services in integrating the FIO protocol into their offerings. In addition, early members will have the opportunity to receive FIO token grants as they go live with their integration. Request information to get complete details.

Questions on the FIO Protocol

Will there be a token?

Yes, there will be a FIO token at the launch of mainnet, which will be used to register FIO Addresses, pay for high volumes of transactions (lower volumes will be bundled into the FIO Address registration), pay for enhanced metadata, as well as providing the holder with voting rights for the FIO blockchain, which uses a delegated proof-of-stake consensus mechanism.

Is there a roadmap or whitepaper?

Yes to both! The whitepaper is available here, and the FIO Roadmap (which is the implementation details of the FIO Protocol) is available here.

How is the FIO Protocol different than other attempts to create wallet names or wallet address?

First, the FIO Protocol is much more than just human readable wallet addresses. The FIO Protocol also enhances user workflow, starting with request-initiated payments from one wallet to another. Additionally, cross-chain transaction metadata will be available for all FIO users. In the future, the FIO Protocol will grow to enable a number of additional enhancements including multi-signature request routing, recurring payments, cross wallet user data access, and more. With respect to the FIO Addresses specifically, our naming mechanism is the first entirely blockchain-agnostic, wallet-agnostic, decentralized, and self-sovereign solution that allows users to retain control and choice over what platform they wish to use.

Will FIO tokens be sold?

FIO intends to sell a limited number of FIO Tokens in accordance with all applicable laws, however, the exact time frame and process for such a sale is not yet determined.

How do I obtain more information?

If you are a wallet, exchange, or crypto payment processor, please fill out the form available at Request Information. If you are an end user, please note that we are currently conducting a FIO Address Pre-sale, which will give you access to all FIO functionality upon mainnet, while using your favorite FIO-enabled wallet.

Questions on Privacy and Security

What are the privacy controls offered by the FIO Protocol?

Users will experience a somewhat increased level of privacy with the FIO Protocol. Without FIO, users must currently send their blockchain public address over plaintext to another party in order to receive crypto. Conversly, with the FIO Protocol enabled, users have no need to see the public address and would need to build a FIO enabled wallet in order to view it. Users can also choose between public and private mode on FIO. In private mode, you can choose to only approve and allow certain parties to send you requests, and in tandem, obtain direct access to your encrypted public address.

What happens if my FIO-enabled wallet or exchange gets hacked?

FIO does not increase nor decrease the security of your wallet or exchange. Loss of control of your private keys can still lead to loss of your funds. However, the FIO Private key is recoverable using pass phrases to recover your entire wallet just like most other crypto public keys.

How are my FIO wallet address mappings protected from being changed without my knowledge?

Your interaction with the FIO blockchain is protected with your FIO Private key that resides in your wallet or with your exchange. Changes associated with your FIO Address cannot occur unless signed with the associated FIO private key. If you are using a centralized exchange and register a FIO Address through them, then that exchange will have ultimate control over your FIO Address in the same way they have ultimate control over your other tokens/coins.