Rebranded from Zcoin (full info here), Firo is a Proof of Work cryptocurrency using the Lyra2 hashing algorithm. It is an implementation of the Zerocoin protocol (http://zerocoin.org) guaranteeing true financial anonymity using RSA-2048. Zero-Knowledge proofs allow one to show ownership of a Firo coin without having to reveal which coin one owns.

Firo uses a PoW-Chainlock hybrid consensus model whereby quorums are formed by several hundred masternodes deterministically selected (LLMQ) that perform a verifiable network-wide measurement/vote of the “first-seen” rule and locks in the block that is first-seen. Blocks are final with a single confirmation as no reorganizations are allowed past this point. This also mitigates 51% mining attacks as more than half the masternode network would need to be compromised to disable Chainlocks before a 51% attack can be mounted. Firo's mining algorithm is MTP which relies on memory hardness to make it resistant to ASICs. It is moving to FiroPOW, a ProgPOW variant that is designed explicitly for GPU mining and is even more resistant to ASICs and FPGAs to encourage fair distribution of its coin.

Try our free Firo (FIRO) portfolio tracker if you want to efficiently keep track of your FIRO and other coin/token investments.

Firo (FIRO) - GBP