Firo

FIRO Price

What is Firo?  

Firo - formerly known as Zcoin, is a privacy-focused cryptocurrency that deploys zero-knowledge proofs to ensure fully anonymous transactions. It works by allowing users to destroy coins and then redeem later for brand new ones with no transaction history. 

Firo differs from the other privacy-centric coins in the market in that it does not merely obfuscate payment trails, but rather, works to abolish them. 

Its operation is backed by the Lelantus privacy protocol, which is an upgrade from standard cryptographic assumptions, supporting high anonymity sets without requiring ‘trusted setup’. 

Firo’s operations are also backed by Dandelion++ which conceals the originating IP of transactions, removing the need for external services such as Tor or i2P. 

The Firo/Zcoin blockchain was used in the Thai Democrat Party Elections in 2018 to elect its party leader with over 127,000+ votes cast nationwide making it the first wide-scale application of blockchain technology in a political election.

How does Firo work? 

Firo enables untraceable anonymous payments based on four main technological foundations. 

i.) Its self-researched Lelantus privacy protocol allows you to burn your coins, which hides them in an anonymity set of over 65,000. Thereafter, the receiver can redeem it from this anonymity pool, which breaks the links from your transactions and all the previous ones it has been through. This protocol also supports untraceable direct anonymous payments by allowing people to pass the right to redeem to someone else. 

ii.) Lelantus technology is also equipped with 256 bit ECC curves for proof sizes of just 1.5kB, which poses as a 17x improvement compared to standard cryptographic approach. So, it is relatively less resource-intensive and time consuming compared to other privacy coins. 

iii.) Dandelion++ technology works to obscure the originating IP of transactions. Before Firo transactions are broadcast to the network, they’re randomized between nodes, which then decorrelates the link between the origin of the broadcast and the originating IP address.

iv.) Firo’s own Proof-of-Work, known as Merkle Tree Proof (MTP), provides fast verification that ensures a low barrier to entry for miners. Firo’s blockchain is also further secured with LLMQ ChainLocks which protects it against 51% mining attacks

Why was Firo created? 

Firo was created to increase individual liberty and to provide freedom of commerce. In standard blockchains that only offer pseudo-anonymity, it is the links between addresses that can expose private information about you. Firo aims to solve this problem by aiming to provide the strongest level of anonymity without foregoing usability and requiring trust.

How do I get FIRO? 

You can obtain FIRO by purchasing them from cryptocurrency exchanges such as Binance or Huobi Global.

Besides purchasing Firo tokens through exchanges, it is possible to earn newly minted Firo by running a masternode. Or alternatively, Firo can also be mined by CPUs and GPUs.

Further, STFIRO allows users to earn FIRO through stakingFiro tokens on StakeHound. 
 

Where can you buy Firo?

FIRO tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Firo is Binance, where the most active trading pair FIRO/USDT has a trading volume of $1,038,050.54 in the last 24 hours. Other popular options include XT.COM and Biconomy.com.

What is the daily trading volume of Firo (FIRO)?

The trading volume of Firo (FIRO) is $1,781,945.54 in the last 24 hours, representing a -10.70% decrease from one day ago and signalling a recent fall in market activity.

What is the all-time high for Firo (FIRO)?

The highest price paid for Firo (FIRO) is BTC0.01616, which was recorded on Dec 26, 2017 (about 7 years). Comparatively, the current price is -98.90% lower than the all-time high price.

What is the all-time low for Firo (FIRO)?

The lowest price paid for Firo (FIRO) is BTC0.00001267, which was recorded on Dec 02, 2016 (about 8 years). Comparatively, the current price is 465.50% higher than the all-time low price.

What is the market cap of Firo (FIRO)?

Market capitalization of Firo (FIRO) is BTC220.8025 and is ranked #1200 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of FIRO tokens (15 Million tokens are tradable on the market today).

What is the fully diluted valuation of Firo (FIRO)?

The fully diluted valuation (FDV) of Firo (FIRO) is BTC220.8088. This is a statistical representation of the maximum market cap, assuming the maximum number of 21 Million FIRO tokens are in circulation today. Depending on how the emission schedule of FIRO tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of Firo compare against its peers?

With a price decline of -19.30% in the last 7 days, Firo (FIRO) is underperforming the global cryptocurrency market which is down -1.10%, while underperforming when compared to similar Smart Contract Platform cryptocurrencies which are down -1.80%.