FIO Chain Overview

Migrated from my FIO.WIKI

The FIO Chain is a purpose-built Delegated Proof of Stake (DPoS) blockchain that is designed to manage the high data-write needs of the FIO Protocol.

Why a Unique Blockchain?

Many general-purpose blockchains (for instance, most smart contract blockchains) are intended to provide a framework for a limitless number of applications. While this serves as a powerful platform for a number of unstoppable, uncensorable use cases, it is not without its limitations. In particular, many of these protocols have run into scaling/throughput issues when a single application overwhelms the capacity of the entire chain.

In addition, the FIO Protocol has very specific economic mechanisms behind it that are difficult, if not entirely impossible, to replicated based on the consensus model of a different chain. Ultimately, the choice for a separate chain was based on a variety of factors:

  • Wallets and exchanges are the primary participants in the FIO Protocol and need to have both substantial economic incentives as well as a large voice in governance of the protocol.
  • The FIO Protocol delivers a specific set of functionalities, which would be nearly impossible to deliver on top of existing blockchain without having access to modify core code.
  • As a usability layer that is intended to serve and benefit all blockchains equally, using an existing protocol would substantially benefit that chain over all others.

After in-depth analysis of over 20 open-source blockchains conducted in July 2018, EOS.IO was scored the highest on a weighted scale assessing speed, maturity, security, ease of development and requirements match. This is not to be confused with the EOS blockchain, which is a specific implementation of EOS.IO software.

Key differences between the default EOS.IO software and the FIO Chain implementation are highlighted below:

FeatureEOS.IOFIO Chain
Active Block Producers2121
Paid Stand-by Block ProducersMaking 100 EOS per dayUp to 21
Open DApp platformYesNo
Requires Account?YesYes, but auto-generated
FeesNone, BPs paid by inflationCollected from user
Staking for resourcesYesNo, fees collected
Fees shared with integratorNoYes
Default proxyNoYes
Vote decayYesNo
Deferred transactionsYes, but being deprecatedNo

Default Proxy

FIO Protocol strives to offer both decentralized wallets and centralized exchanges equal voice in governance. To accomplish this, absent a vote or proxy action from a holder of FIO tokens, tokens held in a decentralized wallet are proxied to the wallet itself, provided the wallet has integrated FIO Protocol.

Sharing of Fees With Integrator

To increase the adoption of the FIO Protocol among existing blockchain ecosystem participants, every interaction with the FIO blockchain can be tagged with an optional Technology Provider ID (TPID), which is a valid FIO Address. When submitted, this FIO Address will receive a portion of fees collected from the transactions with that TPID, as defined in the Fee Distribution. TPIDs will not get paid when a transaction is processed as a bundled transaction and no fee was charged.