Firo is a digital currency with a focus on setting privacy standards.
The team behind Firo is responsible for some of the most significant blockchain privacy protocols on record, and all that tech is distilled into Firo.
Technology used by Firo
Lelantus is a next-generation privacy protocol developed by Aram Jivanyan at Firo. Lelantus allows you to burn your coins, which hides them in an anonymity set of over 65,000. The receiver can redeem it from this anonymity pool, which breaks the links from your transaction and all the previous ones it has been through.
We believe the whole purpose of blockchain is to build systems that do not require trust, and that same principle applies to our privacy system itself. This is why we built Sigma for Zcoin in 2018. Sigma uses 256 bit ECC curves for proof sizes of just 1.5 kB – a 17x improvement on then-current technology. Sigma was a precursor to Lelantus, and set many stepping stones to get us where we are today.
Dandelion++ protects your IP address. Before Firo transactions are broadcast to the whole network, they’re shuffled between nodes a random number of steps. This way, the origin of the broadcast is decorrelated with your IP address.
What Makes Firo Unique?
Firo’s Lelantus privacy protocol and its predecessor, Sigma, rely on as part of its construction on a specialized zero-knowledge proof called one-out-of-many proofs which, unlike other zk constructions, does not require a trusted setup or exotic math/cryptographic assumptions while retaining high anonymity sets.
It was also the first project to deploy Dandelion++ in October 2018, a method of propagating transactions that prevents third parties from linking an IP address to a transaction.
In November 2018, Firo’s (then Zcoin) blockchain was used in the Thai Democrat Party’s primary election to elect its party leader. With over 127,000 votes cast nationwide, it is the world’s first large-scale political election held on a blockchain.
Firo was rebranded from Zcoin in October 2020.
Where Can You Buy Firo (FIRO)?
Firo (FIRO) can be traded on the following exchanges:
To know the price of the coins click here
For more content based cryptocurrency news and reviews click here
Dislcaimerthis news and reviews blogs are only to educate, inform and deliver information to the public and is not an investment advice. Nothing should be taken as an offer to buy, sell or hold any cryptocurrency