Firo FIRO Price

What is Firo (FIRO)?

Firo, previously known as Zcoin, emerged in the cryptocurrency arena as a trailblazer in privacy-focused digital cash. Launched by Poramin Insom, a graduate of Johns Hopkins University, Firo has been at the forefront of advancing privacy in digital transactions. It garnered attention for its pioneering use of zero-knowledge proofs through the Lelantus privacy protocol. This innovative approach allows users to "burn" coins, effectively erasing their transaction history, and later redeem them for new ones, ensuring unparalleled privacy.

The core of Firo's technology lies in its unique Lelantus protocol, developed from extensive research. It offers high anonymity sets without the need for a trusted setup, relying solely on standard cryptographic assumptions. This protocol has influenced others, notably Monero's Triptych and Beam's Lelantus-MW. Firo also implements Dandelion++, enhancing user privacy by obscuring transaction IPs without external services like Tor or i2P.

Security in Firo's network is bolstered by its innovative Proof-of-Work algorithm, Merkle Tree Proofs (MTP), which is memory-hard yet allows fast verification, promoting mining with everyday hardware. The Firo blockchain further fortifies its security with LLMQ ChainLocks. Notably, the Firo blockchain was employed in the Thai Democrat Party's primary election in 2018, marking a significant milestone as the first large-scale political election conducted on a blockchain.

What is unique about Firo (FIRO)?

Firo, formerly known as Zcoin, is distinguished by its Lelantus privacy protocol, which offers high anonymity without trusted setup and uses zero-knowledge proofs. This protocol enables users to burn and later redeem coins, ensuring privacy in transactions.

Who are the founders of Firo (FIRO)?

Firo was introduced in 2016 by Poramin Insom, along with Tim Lee and Roger Ver. Insom is a graduate of Johns Hopkins University and has a background in information security.

Who are the backers/investors of Firo (FIRO)?

Firo has garnered support from venture capital firms and partners such as Bitcoin Capital, Digital Currency Group (DCG), Scalar Capital, Polychain Capital, Komodo Platform, Bitcoin Cash ABC, Changelly and others.

What is the consensus mechanism of Firo (FIRO)?

Firo uses a unique Proof-of-Work algorithm called Merkle Tree Proofs (MTP), which is memory-hard to encourage egalitarian mining using common hardware, and it also employs LLMQ ChainLocks for added security.

Where can I buy Firo (FIRO)?

You can buy Firo (FIRO) on MEXC, HTX, Nonkyc.io, AscendEX (BitMax), CoinEx cryptocurrency exchanges.