What is Firo ?

History of Firo

Born in 2016, Firo, formerly known as Zcoin, is a cryptocurrency focused on respecting the privacy of its users and the anonymity of its network transactions. Using the Zerocoin protocol, a transaction encryption process, Zcoin was a pioneer in terms of anonymity of transactions on the blockchain. In 4 years, many innovations have improved Zcoin. Currently, the protocol used is Sigma and the team is preparing a transition to Lelantus. Thus, Zcoin has made it possible to propose an alternative to Bitcoin and other cryptocurrencies, which are considered too little anonymous by some users.

However, even if the project was born in response to Bitcoin's lack of anonymity, the development team was still greatly inspired by it. Indeed, like Bitcoin, Zcoin experiences a halving every 4 years and its total offering is also capped at 21 million.

On November 30, 2020, Zcoin becomes Firo. This name change is more strategic than technical and aims to give Firo an identity more easily identifiable and more singular to avoid confusion. Notably with Zcash, although fundamentally different technically, since these 2 cryptocurrencies do not use the same protocol.

For more information: Zcoin becomes Firo

Characteristics of the firo masternode

How Firo works ?

Firo uses the protocol called $Zero-Knowledge proof* to anonymize its transactions. To do this, at the time of a transaction, the user provides proof that he or she owns the Firo tokens, which are then burned to make room for new tokens, with a blank transaction history. This has the advantage of making transactions untraceable.

The Firo masternodes

The role of Firo masternodes is to verify and validate network transactions. These nodes are therefore essential to the proper functioning of the mechanisms mentioned above.

Read also: What is a masternode ?

At Meria, we offer you the opportunity to invest in a complete node as well as in a shared node, leaving you the choice of your investment budget.