What is FIRO (FIRO)

XZC (ZCoin) has been renamed FIRO Token (FIRO). FIRO (FIRO/USDT – Trade it here) is a privacy preserving cryptocurrency and ecosystem. It utilizes the Zerocoin protocol, which ensures that the relevant address information of both parties of the transaction is not leaked through the use of zero-knowledge proofs. This article will help you to get full understanding of what is Sandbox token and how to buy FIRO coin or earn it via MEXC.

What is FIRO (FIRO)
What is FIRO (FIRO)

FIRO Core Features

The creation of a decentralized blockchain based gaming platform provides multiple benefits when compared to current, non-blockchain systems, including:

  • True Ownership

Assets stored in player wallets through tokenization of UGC; user retention of copyright in perpetuity; ownership not tied to a game; and creative authorship is immutable.

  • Secure

Less fraud possibility thanks to blockchain’s record keeping technology.

  • Fair Revenue Share

Creators will receive 100% of the selling price they set for their creations; and multiple creators can automatically share payments and revenue.

  • Decentralized Trading

Blockchain allows assets to be shared between users for collaboration; and peer-to-peer trading.

Token Ecosystem

Technologies that power the token ecosystem include:

  • Lelantus Spark Technology

Lelantus Spark greatly improves over its predecessor Lelantus with flexible Spark addresses that hide all transaction amounts, are not searchable on the blockchain while allowing efficient threshold signatures and both incoming and outgoing view key support. Spark also has a modular structure allowing components to be upgraded as better technology arises while simplifying security analysis. It retains the benefits of Lelantus with no trusted setup, an easy to understand construction and based on well established cryptographic assumptions.

  • Lelantus Technology

Lelantus is a next-generation privacy protocol developed by Aram Jivanyan at Firo. Lelantus allows you to burn your coins, which hides them in an anonymity set of over 65,000. The receiver can redeem it from this anonymity pool, which breaks the links from your transaction and all the previous ones it has been through.

  • Sigma Technology

Sigma uses 256 bit ECC curves for proof sizes of just 1.5 kB – a 17x improvement on then-current technology.

  • Decentralized and fair security

Firo’s Merkle Tree Proof (MTP) mining algorithm was designed to democratize mining. The MTP algorithm is memory-intensive, increasing the costs of building ASICs and keeping the chain mineable by commodity hardware such as GPUs. Nodes, however, can bypass this memory requirement and verify these proofs efficiently. A Firo-sponsored audit in 2017 proved the effectiveness of this two-pronged approach. MTP has since been replaced by FiroPoW which has smaller proofs and additional ASIC resistant strategies.

FIRO Tokenomics

There will be 21.4 million Firo Coins. FIRO follows the same distribution and halving cycle as Bitcoin (every 4 years).

The current block reward of 6.25 FIRO/block is divided as follows:

  • Miners (25%, 1.5625 FIRO)
  • Masternodes (50%, 3.125 FIRO )
  • Development Fund (15%, 0.9375 FIRO)
  • Community Fund (10%, 0.625 FIRO)

At the time of writing, it has a circulating supply of 11,314,944 FIRO coins.

How to buy FIRO?

You can buy FIRO on MEXC following the steps:

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  1. Search “FIRO” using the search bar to see the available trading pairs. Take FIRO/USDT as an example.
  1. Scroll down and go to the [Spot] box. Enter the amount of FIRO you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy FIRO] to confirm your order. You will find the purchased FIRO in your Spot Wallet.

For the comprehensive guide on how to buy FIRO and other available tokens, please visit special MEXC How to Buy Guides Section.

Recent FIRO Token Price & Performance

Since listed on MEXC in 2020, FIRO reached the highest price (ATH) of 25.01 USDT in Apirl 2021.

Interested in crypto?

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