What Is Firo?

1. What Is Firo?

Zcoin is a privacy-focused cryptocurrency project designed to enable anonymous transactions on the blockchain. By leveraging advanced cryptographic protocols, Zcoin ensures that user identities and transaction histories remain confidential. Originally launched in 2016 (now known as Firo, but still commonly searched under "Zcoin"), the project introduced a unique approach to privacy called Zero-Knowledge Proofs, allowing users to prove ownership of coins without revealing transaction data. Zcoin’s core value proposition is giving users control over their financial privacy in a transparent and decentralized ecosystem.

2. Why Firo Was Created

Traditional blockchains like Bitcoin and Ethereum are only pseudo-anonymous. While wallet addresses aren't tied to real names, transactions are permanently recorded and traceable on public ledgers. Zcoin was created to solve this privacy issue by making transactions completely untraceable and unlinkable. It aims to provide true financial privacy while maintaining decentralization and security. The project also addresses concerns over censorship, surveillance, and lack of fungibility in traditional financial systems and transparent blockchain networks.

3. How FIRO Works

1. Users burn public Zcoin tokens to mint new ones with no transaction history.
2. The minted coins can later be spent anonymously using Zero-Knowledge Proofs.
3. Zcoin upgraded to the Lelantus protocol, allowing coin burns in any amount with greater anonymity.
4. Mining is performed through a Proof-of-Work consensus mechanism to secure the network.
5. Community governance enables decentralized decision-making for funding and development.
6. Private coins can be traded through supported wallets or integrated decentralized exchanges.

4. Key Features of FIRO

• Lelantus privacy protocol with no trusted setup
• Burn-and-spend system to erase transaction histories
• Proof-of-Work consensus ensuring decentralization and fairness
• Decentralized community governance through the Zcoin Foundation
• Wallets available across mobile and desktop platforms
• Optional privacy—users can choose transparent or private transactions

5. Who Can Use Zcoin?

• Individuals who value financial privacy and anonymity
• Journalists and activists needing censorship-resistant funding
• Developers building or researching privacy-enhancing technologies
• Traders looking for anonymous crypto transactions
• Enterprises requiring discreet financial operations

6. What Is the $FIRO Token?

$FIRO is the native cryptocurrency of the FIRO network. It powers transactions, incentivizes network participation, and enables privacy features within the protocol. $FIRO has multiple utility roles:

• Used to pay network transaction fees
• Staked in masternodes to help secure and support the network
• Awarded as mining rewards through the Proof-of-Work mechanism
• Enables governance participation for ecosystem funding and decisions
• Required for the minting and spending of private coins