Firo

FIRO Price

What is Firo?  

Firo, launched in 2016 as Zcoin, is a leading privacy-focused cryptocurrency that focuses on being private digital cash. 

Known for pioneering zero-knowledge proofs in cryptocurrency, Firo has designed and implemented several groundbreaking privacy protocols, including Zerocoin, Sigma, Lelantus, and its latest advancement, Lelantus Spark. 

Lelantus Spark represents the culmination of years of research and development. Built entirely by Firo from the ground up, Spark hides the sender, receiver, transaction amount and can even be adapted to hide asset types. Its simple, modular architecture allows for easier security audits and future upgrades. 

Firo is expanding its use case with Spark Assets that allow users to create their own privacy preserving tokens in the Firo ecosystem. As an open-source, community-driven project, Firo continues to innovate scalable, trustless privacy protocols that inspire others in the industry while upholding user autonomy and confidentiality.

Firo uses a unique hybrid security model that combines Proof-of-Work (PoW) mining with a Masternode layer based on Long-Living Masternode Quorums (LLMQs) which provide additional layer of protection through ChainLocks and InstantSend, giving the network strong finality and resilience against 51% attacks.

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 MEXC, where the most active trading pair FIRO/USDT has a trading volume of $202,346.86 in the last 24 hours. Other popular options include CoinEx and Nonkyc.io.

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

The trading volume of Firo (FIRO) is $207,558.61 in the last 24 hours, representing a -4.00% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Firo (FIRO)?

Firo (FIRO) reached an all-time high of $139.77 and an all-time low of $0.2796. It’s now trading -99.10% below that peak and 365.60% above its lowest price.

What is the market cap of Firo (FIRO)?

Market capitalization of Firo (FIRO) is $24,852,875 and is ranked #802 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of FIRO tokens (19 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 $24,852,981. 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 increase of 20.70% in the last 7 days, Firo (FIRO) is outperforming the global cryptocurrency market which is up 10.30%, while outperforming when compared to similar Smart Contract Platform cryptocurrencies which are up 4.90%.