Firo Research Hub | FIRO information, history and analysis
Firo, formerly known as Zcoin, is a cryptocurrency aimed at using cryptography to provide better privacy for its users. Previously in 2016, when it was Zcoin, the coin was considered the gold standard for on-chain privacy. However, after a long time since its launch, Zcoin has fallen from 40 to 250 on CoinMarketCap’s rankings. It urging developers to improve, helping to perfect the product, and the new brand Firo was officially born.
Firo is at the forefront of cryptocurrency privacy with Lelantus and Lelantus Spark providing trustless, on-chain privacy with high anonymity sets. Firo uses a hybrid PoW and LLMQ Chainlocks system combining fair distribution of supply with protection against 51% attacks and quick finality of blocks and transactions.
Firo’s technologies:
- Lelantus: 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.
- Lelantus Spark: Lelantus Spark greatly improves over its predecessor Lelantus with flexible Spark addresses that hide all transaction amounts. Their decentralized anonymous payment (DAP) construction, Spark, enables non-interactive one-time addressing to hide recipient addresses in transactions.
- MTP: Firo’s Merkle Tree Proof (MTP) mining algorithm was designed to democratize mining.
FIRO is a native token of the Firo ecosystem, operating on BNB Smart Chain according to BEP20 standard, and can be used for the following purposes:
- Stake to earn rewards
- Get a profit for participating in the DeFi ecosystem through the bridge to Ethereum
- Governance is based on the amount of tokens held
