Question 1

How much does Firo cost today?

Accepted Answer

The current price of Firo is A$ 1.15. The price has increased in the past 24 hours with a trading volume of 0.3M. Please note prices for cryptocurrencies like Firo can be quite volatile and could change in a rapid manner.

Question 2

What exactly is Firo?

Accepted Answer

Firo, originally known as Zcoin, is a privacy-driven cryptocurrency that facilitates fully confidential transactions through zero-knowledge proofs. It operates by allowing users to 'burn' coins and later redeem them as new coins without a historic transaction log. Unlike other privacy-focused cryptocurrencies, Firo aims not only to obscure payment trails but to eliminate them completely.

Question 3

Who created Firo or Zcoin?

Accepted Answer

The Firo cryptocurrency, formerly known as Zcoin, was launched by Poramin Insom and his team. Insom, a privacy technology advocate, wanted to create a way for people to transfer or receive money online with complete anonymity, driving the development of Firo as a new standard for private financial transactions.

Question 4

How does Firo work?

Accepted Answer

Firo operates on the principles of 'burn and redeem'. The coin's protocol lets users burn, or destroy, their existing Firo coins and then redeem them later as completely new coins with no transaction history attached to them. This mechanism allows for an unprecedented level of privacy and anonymity.

Question 5

How does the Lelantus privacy protocol support Firo?

Accepted Answer

Firo is underpinned by the Lelantus privacy protocol, an upgrade from conventional cryptographic assumptions. Lelantus ensures high levels of anonymity without the need for a 'trusted setup', which is a key departure from most privacy coins that require initial trust parameters. Lelantus allows users to 'burn' and redeem coins with heightened privacy features, contributing to Firo's distinctive privacy attributes.

Question 6

What is Dandelion++ and how does it help Firo?

Accepted Answer

Dandelion++ is another privacy-enhancing feature utilized by Firo. This protocol obfuscates the originating IP of transactions, offering another layer of privacy to Firo by making it difficult for observers to trace transactions back to the original sender's IP address. This eliminates the need for external privacy services such as Tor or i2P.

Question 7

How is Firo's privacy technology practically used?

Accepted Answer

Interestingly, Firo's blockchain was used in a real-world political context during the Thai Democrat Party Elections in 2018. Over 127,000 votes were cast nationwide on the Firo blockchain to elect the party leader, marking one of the first large-scale applications of blockchain technology in a political election. The use of Firo provided voters with anonymous, trustless voting - demonstrating the practical implementations of this privacy-focused cryptocurrency.

Question 8

How much Firo is in circulation and what's its market cap?

Accepted Answer

Currently, there are 19.2M Firo coins in circulation. The total supply of Firo is capped at 19.2M. As for the market cap of Firo, it is currently around A$ 22.1M.

Question 9

Where can one buy Firo?

Accepted Answer

Firo can be purchased on several cryptocurrency exchanges, but it's important to consider that buying options may vary between exchanges. The currently listed platforms for purchasing Firo include CoinEx, BitMax, TradeOgre. Remember, always use recommended and safe platforms for any cryptocurrency transactions.

Convert FIRO to AUD

Try our Crypto Pro app