Firo is a digital currency with a focus on setting privacy standards.
Firo, formerly Zcoin, has been the gold standard of trustless, on-chain privacy since 2016. Its incentive infrastructure gives it the industry-leading practical anonymity set. This infrastructure will help boost FIRO Price.
Privacy is about staying one step ahead. The team behind Firo is responsible for some of the most significant blockchain privacy protocols on record, and all that tech is distilled into Firo.
Lelantus is a next-generation privacy protocol developed by Aram Jivanyan at Firo. It 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.
Firo believes the whole purpose of blockchain is to build systems that do not require trust, and that same principle applies to their privacy system itself. This is why they built Sigma for Zcoin in 2018. Sigma uses 256 bit ECC curves for proof sizes of just 1.5 kB – a 17x improvement on then-current technology. Sigma was a precursor to Lelantus, and set many stepping stones to get them where they are today.
Dandelion++ protects your IP address. Before Firo transactions are broadcast to the whole network, they’re shuffled between nodes a random number of steps. This way, the origin of the broadcast is decorrelated from your IP address.
Merkle Tree Proof
Firo’s Merkle Tree Proof (MTP) mining algorithm further strengthens the practical anonymity of transactions. MTP is memory-intensive, preventing miner centralization. Nodes, however, can bypass this memory requirement. A Zcoin-sponsored audit in 2017 proved the effectiveness of this two-pronged approach.
Source : https://firo.org/about/tech/
Now let us review FIRO price.
FIRO/USD – Price Prediction
FIRO has broken an important support zone of $7.32 and is now trading just above the weak support area of $6.94. If FIRO can quickly reclaim the support area of $7.32 and close few daily candles above it, this would act as a perfect retrace. We could start seeing a move towards $8.46, $9.16, $9.72, $10.29, $11.10, $12.13, $15.09 and $19.90. Failure to hold the support at $6.94 could lead to a drop towards $5.94 which would be an excellent place to bid longs for FIRO.
FIRO is currently trading at $7.21 with a market cap of $84,537,634. Its 24 hour trading volume was $7,049,562.
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