Firo is one of the many cryptocurrencies available worldwide but surely among the more reliable and trusted ones. Firo is a new name to an old and popularly known cryptocurrency Zcoin. It allows you to deal in cryptocurrency while playing safe and secure. It has high standards of security as it uses the cryptography technique. Firo has shown positive results for its investors and traders and has provided a maximized profit opportunity for them. Firo has had a share of highs and lows over the years but today it has established itself as one stable and reliable cryptocurrency in the highly fluctuating global market.
As cryptocurrency was gaining popularity many students, as well as economic researchers, were inclined to study its scope. After long and deliberate efforts, John Hopkins University in 2014 put forth a crypto coin more commonly known as the Zcoin at that time. It was in 2014 when Poramin Insom majored in a master‘s degree in security informatics under Mathew Green as the senior faculty personnel and published the theory of zero coin. After many efforts of Poramin Insom and his team, the theory gained the attention of the masses.
It was about 2018 when the theory gained a practical shape and was fully implemented in the world market. This whole project of the implementation of the theory was termed, Moneta. The Zcoin also had an exchange rate with unique nomenclature. It was called Satang and It was possible to convert Thai Baht to Zcoin directly. The zero coin protocol was soon replaced by another protocol named the sigma which followed a series of updates afterward. This was actually a modified form of the zero protocol with its ‘trusted setup’ being removed.
Unfortunately like every rise has a fall, Zcoin was hacked in 2018 due to a cryptographic flaw that went unchecked while launching the protocol of the currency and the company suffered a huge blow. The hackers made full use of the situation and that led to a highly successful currency being exploited, destroyed, stolen, and wasted. However, the controlling team took immediate measures to curtail the economic benefits occurring to the scammers and protect the currency from such frauds.
The company then ensured an encryption technology such as the dandelion Protocol to keep the origin IP address of the sender hidden without using any private networking sites more commonly known as the VPNs. The Firo gained strength and resultantly a strong marketplace in cryptocurrencies. Coming back from such huge losses, this success was a major distinctive attribute in the coin’s history. The manufacturers focused on fixing it into trading and investment by developing a mining algorithm for it. It simply allows one to mine cryptocurrency through the help of a central processing unit and graphic cards. Then came the time for adding it to wallets and inducing it through partnerships.
What makes Firo so remarkable and practical is its long list of protocols and algorithms running it such as the Lelantus, Sigma, Dandelion, Merkle Tree Proof mining algorithm. The dandelion protocol enabled the users to trade by keeping their IP addresses a secret or without having to disclose their origin to the world. The Merkle Tree Proofs is more memory and storage centered and acts as a gateway to faster verification services. It is in short a proof of your work algorithm.
It is a privacy-oriented feature that focuses on allowing its users to burn or destroy coins and then convert them back later to new coins without a transaction history. Then there is Lelantus that enhances the trading scope by removing the need for trusted setups and cryptographic assumptions. It helps in keeping the record confidential and anonymous without breaking the trust barrier between the company and the user.
Traveling through various crests and troughs and passing through various phases the Zcoin rebranded itself in 2020 as Firo to provide a unique way of burning or trading coins. The company however claims that Firo will utilize the same blockchain as Zcoin and has been rebranded for the better good. Experts believe that the rebranding of the coin can prove to be a driving force behind the success of this cryptocurrency.
The credentials of the corporates working with Zcoin will remain the same and intact. Only your balance would now read in Firo rather than Zcoins. It will only require you to update to the latest version. Firo has hit the market with the latest value of 6.11$ USD. Various exchanges and trading platforms have made it a lot easier to deal with fluctuating price movements.
With every other person seeking hassle-free and safe means of earning profits, Firo is an excellent platform promising security and income. The decentralized and independent earning platforms are way more convenient than traditional banking systems. The transactions are fast and only a click away, the profit potential is also evidently high. Moreover, the service is available 24/7, unlike the banks. Furthermore, the manufacturers of the Firo claim to offer vital and up-to-date technologies for easy dealing in the years to come. The rebranding of Firo means that there is an immediate investment opportunity in this form of crypto, which is expected to evolve and grow in the near future. Users can also acquire the services of platforms like Swapzone to mine and trade Firo more conveniently.