What is Firo Coin FIRO, How it Works and Price Predictions

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What is Firo Coin FIRO, How it Works and Price Predictions

Rancakmedia.com – Firo Coin (FIRO) is a coin previously known as Zcoin, a cryptocurrency coin that focuses on becoming private digital money, see more info below.

It establishes protocols for user privacy. To throw away their old coins and exchange them for new ones with no previous usage history. Before Lelantus, it was also the first cryptocurrency to code and deploy a viable version of the Zerocoin protocol.

Which became famous as a privacy protocol before being replaced by Sigma as the most widely used. Finally, in 2019, when Zerocoin Protocol's cryptographic flaws were exposed, Lelantus emerged.

Founder of Firo Coin FIRO

The originator of the Firo coin (FIRO) (formerly Zcoin) is Poramin Insom. He graduated with honors from Johns Hopkins University with a master's degree in Information Security. Where he wrote a paper outlining his vision of how the Zerocoin protocol could be put into practice.

Apart from Firo, he also co-founded Satang Corporation and served as a second lieutenant in the Royal Thai Armed Forces in its cyber warfare branch.

Shortly after the start of the project in 2016, Reuben Yap joined the team. The project's overall strategy, development and research objectives are currently under his direction. Reuben has been a vocal advocate of online and monetary privacy since the early 2000s.

Having created one of the early VPN companies in Southeast Asia to combat censorship and is a recognized speaker on the issue. With featured discussions on CoinDesk, BBC, Forbes, Nasdaq, Reuters and Cheddar News, among others. In November of this year, he was appointed Project Steward and Co-Founder.

Uniqueness of Firo Coin FIRO

The privacy protocol Lelantus Firo and its predecessor, Sigma, rely as part of their construction, an unspecialized proof called a one-of-many proof that unlike other zk constructs, requires no trusted settings or exotic mathematical/cryptographic assumptions while maintaining a high set of anonymity.

It was also the first project to use Dandelion++ in October 2018, a transaction propagation strategy that prohibits third parties from associating IP addresses with transactions.

In November 2018, the Firo (formerly Zcoin) blockchain was used in the Democratic Party of Thailand's primary election to elect its party leader. With more than 127.000 votes cast worldwide, this was the world's first large-scale political election conducted on the blockchain.

What is Firo Coin FIRO

Firo, originally known as Zcoin, is a cryptocurrency focused on being a private digital currency. He designed the Lelantus privacy protocol that allows users to burn their coins and exchange them later for new coins that have no transaction history.

Before Lelantus, it was also the first cryptocurrency to code and release a practical implementation of the Zerocoin protocol, which became one of the most commonly used privacy protocols, before being replaced by Sigma and Lelantus after cryptographic flaws were discovered in the Zerocoin Protocol in 2019.

How Does Firo (FIRO) Work?

Altcoins are supposed to provide better privacy than early cryptocurrencies like Bitcoin and Ethereum. Additionally, Firo addresses existing network issues, such as latency and excessive gas levels internally.

Thus, the average waiting time for cryptocurrency transactions is 5 minutes. The Lelantus and Sigma protocols, on the other hand, are being developed as part of the project. Lelantus favors strict confidentiality over normal encryption assumptions.

However, this confidentiality does not apply to transaction amounts. This means that although it is impossible to determine who sent and received the money, the total amount is still available to view.

Additionally, Firo has a protocol called Dandelion++. The IP addresses of project users are kept secret using this protocol. As a result, the IP address and, by extension, the location of the individual conducting the transaction, are inaccessible to other parties.

The inclusion of Firo in the selection process is an interesting feature. Thus, the FIRO blockchain was used as a platform in the presidential election of the Democratic Party of Thailand. The election, which attracted 127 votes, was the first significant political election conducted using Blockchain.

Firo masternode owners can take advantage of opportunities and profit from them at the same time. Master nodes earn 35% stake returns as well, allowing them to generate passive income for themselves.

The Firo Network uses a Proof of Work consensus technique. Basically, this means that by confirming transactions through processing computers, you can make money on the internet. FIRO currency is a cryptocurrency where you can buy quietly and anonymously and send assets to any address.

Personal

Firo is at the forefront of crypto privacy with Lelantus and Lelantus Spark providing trustless on-chain privacy with a high anonymity suite. Dandelion++ technology also enables network layer privacy.

  1. Collection of anonymity
  2. Trustless configuration
  3. Firo Blockchain

Firo uses a hybrid PoW and LLMQ Chainlocks system that combines fair supply distribution with 51 percent attack protection and fast block and transaction settlement.

  • Total supply – 21,4 thousand
  • Proof of work – Firo PoW
  • Master nodes – 5000+
  • Privacy infrastructure

Firo's Elysium tokenization layer allows users to tokenize their own privacy with the use case of private stablecoins or voting tokens, and in the future provides privacy to bridge assets from other chains.

Research and development

In the field of blockchain privacy and decentralized technologies, such as Sigma, Lelantus, Lelantus Spark, and MTP, Firo stands out as one of the few initiatives that conducts independent research. Our work has played an important role in settings that have been influenced or adapted in other projects.

What Is FiroPoW Mining?

In the real world, FiroPoW is a GPU-optimized mining algorithm intended to withstand attacks from FPGAs and ASICs, allowing users to mine on their own consumer equipment.

We have always believed strongly in Proof of Work's ability to relate virtual currency values ​​to the real world, coupled with how to share Firo's supply fairly and decentralized without constraints.

FiroPoW follows the ProgPoW 0.9.4 standard with minimal tweaks so that the method varies randomly every block. Every 1.300 blocks, the DAG will grow by 8MB (approximately 4,5 days), starting from a size of slightly more than 4GB. This DAG size is designed to accommodate most contemporary graphics cards. Check out this FIRO article to find out how to mine Firo (FIRO) using FiroPoW.

Firo Design Differential

No trusted configuration or mathematical assumptions are required for this zero-knowledge proof created using the privacy protocols of Firo, Lelantus or its predecessor, Sigma. Lelantus and Sigma are both part of Firo's zero knowledge proof build.

Exotic / crypto while maintaining a high set of anonymity. It was also the first project to use Dandelion++ in October 2018, a transaction propagation technique that prohibits third parties from associating IP addresses with transactions.

In November 2018, the Firo (formerly Zcoin) blockchain was used in the Thai Democratic Party's primary election to elect their party leader. This was the world's first large-scale political election conducted entirely on the blockchain, with a total of more than 127.000 votes. In October 2020, Firo changed its name to Zcoin.

Places to Buy FIRO Tokens

FIRO can be bought and sold on the following cryptocurrency exchanges:

  1. Binance
  2. MEXC
  3. inner coin
  4. Huobi Global

Firo Coin Price Prediction

It is expected that the price of Firo will reach a peak of $12.510 in 2022. A high of $24.075 is possible in 2023 for the price of Firo (FIRO), with an average trading price of $17.903 according to predictions in our crypto price predictions index.

FIRO is expected to reach an average price of $29,02 in 2025, according to our cryptocurrency price prediction index. The minimum predicted value of Firo price at the end of the current year should be $26,80. Next, FIRO may reach a maximum price level of $29,58.

Firo price is expected to reach a low of $25,69 in 2030. According to our crypto price prediction index, FIRO price may reach a high of $47,37, with a predicted average price of $35,70. What is voyager vgx coin, price function and how to get it, if you want to know the information, click this link.

Firo offers innovative options for the future. With many exchanges supporting the coin, it can consolidate and reach higher international rankings. And it's not just in the US that people love it. For cryptocurrency investments, many developing countries, including in Asia and Europe, are turning to Firo.

Conclusion

Firo Coin (FIRO) was previously known as Zcoin, a cryptocurrency coin focused on becoming private digital money. It establishes a protocol for user privacy to dispose of their old coins and exchange them for new ones without any previous usage history.

Firo, originally known as Zcoin, is a privacy-focused digital currency. The average waiting time for Firo transactions is 5 minutes. Users can burn their coins and exchange them later for new coins that have no transaction history.

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Lutfi

Hi, let me introduce myself, Lutfi Hulasoh, I am a writer and techno blogger. I started creating a personal blog writing informative articles about the latest trends and developments in technology. My writing covers a wide range of topics, from mobile applications to artificial intelligence, and I can also provide easy-to-understand explanations to help readers understand complex concepts.