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.

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Firo (FIRO) - JPY