Firo FIROPrice $ 0.634

Firo is a blockchain-based ecosystem that focuses on preserving privacy. It aims to provide a solution to potential breaches in privacy which have impacted users’ funds and private data across cryptocurrency projects. 

FIRO is the native token of the Firo project, it has a total supply of 21,400,000. The token uses the same distribution as Bitcoin and the same halving cycle of 4 years. 

What are FIRO’s key features and how does it work?

The Firo ecosystem comprises the Lelantus trustless privacy solution. It works by allowing users to burn their coins (destroying them forever) and allowing them to be redeemed at a later point with coins that have no transaction history. This means that there is a disconnect in the wallet addresses and transactions cannot be traced.

Users must provide zero-knowledge proof that coins were previously burnt, without the need for confirming or showing which coins were burnt. The size of the transaction also remains hidden from records. A zero-knowledge proof consists of proving that you know something without giving any details about it, only the fact that you do know it. In this manner, users can send coins to each other without detailing the actual coin, size, origin or destination.

 Masternodes play a role in network security, for example preventing 51% attacks. They are incentivized to host Firo’s infrastructure and require 1000 FIRO to be deposited as collateral. Rewards are given to masternodes for their work in helping to secure the network, currently, 35% of block rewards are distributed.

What is noteworthy about FIRO?

Firo uses a unique mining algorithm known as FiroPoW. It aims to keep mining accessible to all those who wish to take part, without requiring heavy-duty rigs. As such, the Firo mining process is optimized for GBP mining and allows miners to use their own hardware. It is FPGA and ASIC resistant.

Where can you buy FIRO?

FIRO is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are Binance, AEX, and MEXC Global. The price of FIRO will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for FIRO market prices, please view the price charts on this page.