Mycelium, one of the oldest and most well-established mobile Bitcoin wallets, has become the latest crypto wallet to join the Foundation for Interwallet Operability (FIO), in a move that demonstrates the FIO Protocol’s growing support among major wallets, exchanges, and crypto payment processors.
Mycelium joins some of the world’s leading wallets and exchanges – ShapeShift.io, KeepKey, Coinomi, MyCrypto, BRD, and Edge – as members of the FIO, which seeks to accelerate blockchain adoption by reducing the risk, complexity, and inconvenience of sending and receiving tokens and coins.
Mycelium has released some of the most popular products for Bitcoin. At its peak, the Mycelium wallet was handling about 10 to 15% of all Bitcoin transactions, and was one of the most popular crypto wallets in China. The company is frequently introducing new tools to supplement the functionality and usability of the wallet, leading to the synergy between Mycelium and the FIO Protocol.
FIO’s new, decentralized, open-source blockchain protocol, which is being built by Dapix, will provide an enhanced layer of usability features for existing and future wallets and exchanges. It’s a decentralized PayPal-like platform that removes the risk, complexity, and inconvenience of sending and receiving tokens and coins. It will offer a standardized set of open source APIs and SDKs that can be globally adopted and integrated into any wallet, exchange, or crypto payment processor seamlessly.
All blockchain tokens and coins will be fully compatible with the FIO Protocol, with no blockchain code changes required. When launched, it will be a self-standing, open source, fully decentralized ledger that never sits in the middle of the underlying transaction of any blockchain. Rather, the FIO Protocol operates in parallel to existing blockchain mechanisms, and provides an enhanced set of usability features.
“We’re delighted to have Mycelium join the growing list of existing FIO members and future adopters of the FIO Protocol, who believe in advancing the usability of blockchain for their users,” said David Gold, the founder, and CEO of Dapix. “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.”
The FIO Protocol will initially focus on three core areas of functionality:
- FIO Addresses – Human readable wallet addresses that work instantly with every token or coin each wallet or exchange supports.
- FIO Workflow – Virtually error-free in-wallet payment request-initiated transactions.
- FIO Data – The ability to include private metadata on send/receive transactions across any blockchain.
“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. We look forward to working with the founding members in helping to ensure this project is as successful as possible,” said Alexander Kuzmin, Founder of Mycelium.
Mycelium is a fraud! People stay aware, owner Alexander Kuzmin is a criminal! Do you people know he was in prison?!
Back in 2010, Alexander Kuzmin, then the mayor of the Russian city of Megion, plundered the city budget into his questionable business, for which he was put in a high-security prison, and then without any justification, allegedly for diligent behavior, was released by the authorities. Immediately after that, the former mayor ran to the USA. There, in the Silicon Valley, he began to develop his crypto-wallet Mycelium, gathering around him programmers with a stained reputation, who did not disdain to receive stolen money from A. Kuzmin.
Already in 2016, having plundered to the last the city budget, Alexander Kuzmin, convicted under several criminal articles, becomes the head of one of the most popular crypto wallets in the world — Mycelium.
The operating principle of Alexander Kuzmin’s wallet is a financial pyramid based on the blockchain. The so-called crypto-currency pyramid does not have many distinctive features from the usual financial pyramid. They have same qualities, but there is an opportunity to invest in digital assets, in case with Mycelium this is Bitcoin investments. The idea, as it turned out, is very simple: new users of the Mycelium wallet compensate for the lack of funds literally stolen from the wallets of existing users by the employees of Mycelium.
So how FIO can set up this partnership, it’s safe! There is no security for users now…