Bitcoin.com, the wallet for bitcoin (BTC) and bitcoin cash (BCH), joins the Foundation for Interwallet Operability (FIO), a consortium of wallets, exchanges and payment providers whose aim is to accelerate the adoption of blockchain technology, reducing the risks and complexities arising from cryptocurrency trading.
Stefan Rust, head of development at Bitcoin.com, explained:
“Crypto usability is still one of the biggest challenges the industry has to solve and our new relationship with the FIO is all about trying to find a solution to this big issue”.
In addition, as a new member of the FIO, Bitcoin.com will work with 23 other leading crypto ecosystem companies, including Binance’s Trust Wallet, the BRD wallet, ShapeShift, MyCrypto, Edge Wallet and Coinomi Wallet.
“With prices rising once again, we’re likely to see more and more new entrants everyday. Therefore, we should be trying to ensure crypto is as easy as possible to use, which is why we have joined this consortium of leading companies already involved in the FIO”.
Of all the types of cyber attacks that can be carried out on a wallet, the FIO Foundation is able to provide particular protection against keyloggers, which are the tools that a hacker uses to detect the keys pressed by the user. The Man-in-the-Middle attack is also being treated seriously.
David Gold, founder and CEO of Dapix, the team responsible for developing the protocol, explained:
“Our research tells us that even those users who consider themselves comfortable with crypto are still not completely confident things will go as planned when engaging in blockchain transactions. We need to ensure they and all the new entrants we expect to see have a user experience across all blockchains that is easy and accurate, which is why it’s fantastic to have such a popular wallet as Bitcoin.com join the consortium and help us fulfill our mission for crypto usability”.
Bitcoin.com’s entry into the FIO consortium comes after ChangeNOW and Enjin wallet joined the consortium in recent months.