Changelly Announces Integration of FIO Protocol
According to the latest reports, Changelly has made an announcement about the integration of a new protocol. Changelly has reportedly made the announcement around the integration on Monday, May 3, 2021. Changelly is an instant cryptocurrency exchange that exists as a non-custodial entity.
The exchange has announced it has recently integrated a new protocol called FIO, which stands for Foundation for Interwallet Operability. With the recent integration, Changelly has taken the interaction level between users and the platform to the next level.
The new FIO protocol would allow users in sending and exchanging cryptocurrencies. The users would be able to send and exchange them to addresses that would be easy to read.
The new protocol is set to make the interaction level between the platform and users as simple as possible. With the help of the new feature, the users would be able to generate transactions with memorable and human-readable identifiers.
The protocol is eventually going to make the lives of the users much easier as they navigate through the services, features, and ecosystem for cryptocurrencies. All of these features will be offered by the protocol through a new usability layer introduced by the FIO protocol.
The integration of the FIO protocol was extremely necessary due to two major reasons. The first reason was the long and complex addresses that people have to manage whenever sending/receiving or exchanging cryptocurrencies.
The second reason was the potential of transactions being interfered with or trespassed by the man in the middle. Therefore, the new protocol has been introduced to nullify both factors and make the overall experience of the users as convenient as possible.
While talking about the recent integration, the CEO of Changelly also talked about the current adoption level of cryptocurrencies. He stated that in the past decade, the world has experienced the potential of cryptocurrencies. That is when they decided towards the last year of the decade to start investing and using the cryptocurrency platform.
In the current decade, the world would see a great shift of people from centralized financial systems to decentralized financial systems. This means that people would start investing more in cryptocurrencies than traditional financial assets.
Moreover, people are now becoming used to having cryptocurrencies in their wallets and use them to pay for any service they acquire. Over the course of time, the world would see how economic drivers shift from the traditional financial model to the futuristic one.
The future of finance is in cryptocurrencies or their variant but the world is no longer interested in cash money. They now want to move on and cryptocurrencies are looking like the perfect alternative. This is the reason why Changelly is making constant development and changes to its infrastructure.
This way, the platform will be easily adaptable for even the least sophisticated users so they do not find themselves lost in the future.