Self-Custodial Crypto Wallet Edge Enables FIO Staking February 4, 2022 February 4, 2022 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Bitcoin NewsFebruary 4, 2022 by Kelly Cromley

Self-Custodial Crypto Wallet Edge Enables FIO Staking

Edge, the self-custody cryptocurrency wallet, has released an update that includes official support for FIO staking. Staking FIO tokens is a newly available option for holders of FIO tokens to engage in the network’s on-chain governance while also earning income. This integration represents Edge’s latest effort to assist the FIO network, as well as the development of a yield-earning interface inside the platform for users.

Edge is a self-custody program that enables users globally to acquire, sell, and utilize digital assets without the risk or limitations associated with third-party custodians. With the inclusion of FIO staking, Edge’s cutting-edge technologies and solutions make it substantially simpler for customers to generate return on digital assets.

FIO (Foundation for Interwallet Operation) is the native cryptocurrency of the FIO Protocol, a decentralized usability layer solution built on a Delegated Proof-of-Stake (DPos) blockchain. FIO is a network of wallets, exchanges, and cryptocurrency payment processors that all use the FIO protocol. This protocol is intended to enhance the user experience associated with sending and receiving cryptographic transactions, as well as engaging with decentralized apps.

The FIO Protocol introduces a new method of transferring cryptocurrency to consumers. Rather of using complicated wallet addresses, users may simply register a FIO address and begin transactions using readable handles, comparable to email addresses. The simplified domain idea is comparable to Ethereum Name Service’s.eth names or Unstoppable Domains’.crypto,.wallet, or.blockchain addresses. However, FIO Protocol’s network is fundamentally different in that it prioritizes user privacy and interoperability across multiple blockchains.

At the moment, Edge users may establish their FIO addresses for free without paying any registration costs. By enabling FIO staking, Edge provides users with a new opportunity to engage with the system and contribute to cryptocurrency adoption. With Edge’s focus to user experience in terms of wallet creation and engagement with blockchain protocols, the addition of FIO staking only enhances such interactions by significantly increasing the utility of the FIO asset.

Although Edge was built for the average user, sophisticated fans will enjoy the platform’s capability. Edge has now provided another method to participate in the FIO network as it enters a new phase of its growth, thanks to its solid infrastructure and widely accessible exchange integrations packaged in an easy-to-use self-custody application.

“Paul Puey and the Edge team have been setting the standard for the FIO consortium of wallets and exchanges committed to enhancing the bitcoin user experience,” stated Luke Stokes, managing partner of FIO.

“We’re thrilled to have them as one of the first products to support FIO Token staking in order to complete the decentralized business model for the FIO Protocol, in which the FIO chain economically supports those who secure the chain as validators, voters, foundational coordinators, and integrators through fee distribution.”

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.