Mycelium, a mobile Bitcoin wallet, has become the latest addition to join the Foundation for Interwallet Operability (FIO).
The wallet joins the likes of ShapeShift, KeepKey, Coinomi, MyCrypto, BRD, and Edge who are already members of the FIO.
With increasing support among the FIO Protocol with exchanges, crypto payment processors, and wallets, it is aiming to boost blockchain adoption by reducing the inconvenience, risk, and complexity of sending and receiving tokens and coins.
Alexander Kuzmin, founder of Mycelium, said: “Joining FIO and supporting the FIO Protocol makes complete sense because we believe it will be an important milestone in the wider adoption of cryptocurrencies.”
FIO’s decentralised, open-source blockchain protocol – being built by Dapix, which is working at revolutionising blockchain usability – is hoping to deliver an enhanced layer of usability features for existing and future wallets and exchanges.
According to an announcement, it will provide a standardised set of open-source application programming interfaces (APIs) and software development kits (SDKs), which can be adopted into any wallet, exchange or crypto payment processor. Additionally, all tokens and coins will be compatible with the FIO Protocol.
On the FIO website, Erik Voorhees, founder and CEO of ShapeShift, said: “Crypto payments must improve if this technology is going to expand. FIO’s approach – decentralised, cross-chain, and with financial incentives to adopt – is exciting and we’re thrilled to support it.”
The FIO Protocol will begin by focusing on three main areas of functionality:
FIO Addresses – human readable wallet addresses, which work with all tokens or coins or exchange support,
FIO Workflow – virtually error-free in wallet payment request initiated transactions, and
FIO Data – the ability to include private metadata on send and receive transactions across any blockchain.
Speaking of FIO’s potential, David Gold, the founder and CEO of Dapix, said: “By making it user-friendly to move tokens around, the FIO Protocol will be a driving force behind cryptocurrency adoption for more than just alternative investment and we look forward to more key players joining us in 2019.”