FIO’s vision is to operate as a Decentralized Autonomous Consortium (DAC) driven by the community and Blockchain ecosystem. The project fundamentally values openness and transparency, diversity in the community, and justice.
What is the FIO Protocol (FIO)?
The FIO Protocol (FIO) is a blockchain protocol aiming to provide a better way to send or receive cryptocurrencies and tokens. The FIO token is the native utility token of the project’s Blockchain infrastructure, the FIO Chain, and is used for transaction fees and on-chain governance. The FIO Chain achieves network consensus using Delegated Proof of Stake (DPoS). Block Producers are elected through on-chain voting by FIO token holders. Anyone can register to become a Block Producer and can create blocks if they receive enough votes.
On the other hand, FIO addresses serve as a human-readable wallet identifier (username @ domain) for users on the FIO Protocol. Registration of a FIO Address can be done through a FIO-integrated application or a registration site. A FIO Address has an annual fee in FIO tokens and comes with 100 free transactions.
FIO Request allows users to initiate transactions using their FIO Addresses. This request is stored on the chain encrypted with Diffie-Hellman key exchange metadata.
FIO Data, on the other hand, is transaction metadata. These metadata can range from a free-form note to structured data (e.g., deposit details). The team views FIO Data as a tool to support decentralized transactions where transaction data (e.g., invoices, dates) can be stored on the chain. FIO Data may also include blockchain transaction metadata.
As of the writing of this article, FIO, the native cryptocurrency of the FIO Protocol, is ranked 406th with a market cap of $48,026,690 according to CoinMarketCap data. Additionally, the FIO Protocol Coin, trading at 0.2174 USD against the dollar, has a 24-hour trading volume of $85,426,159.
Trading against Bitcoin at 0.000004688 BTC, the FIO Protocol Coin saw its lowest level at $0.0580 on January 5, 2021, and its record high at $0.4253 on July 31, 2020. Currently, there are 221,231,898 FIO Protocol Coins in circulation, and this number is expected to reach a maximum of 1,000,000,000 FIO coins.
Where to Buy FIO Coin?
FIO Coin can be quickly and securely purchased through Binance, the world’s largest cryptocurrency trading platform in terms of trading volume.
To buy FIO Coin, one must first become a member of Binance and then send fiat currency. After sending a fiat currency like US dollars, FIO Coin can be purchased in the FIO trading pair with Tether (USDT), Binance Coin (BNB), BUSD, or Bitcoin (BTC).
In addition, at Binance, users can place a buy order not only at market value but also at a lower value. To do this, use the Limit tab and enter the amount and price you want to buy at.
