What Is Firo (FIRO)?

What Is Firo (FIRO)? Complete Guide Review About Firo.

What Is Firo (FIRO)?

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. That is at the forefront of cryptocurrency privacy with Lelantus and Lelantus Spark providing trust less, on-chain privacy with high anonymity sets. Dandelion++ technology also provides network-layer privacy. Firo uses a hybrid PoW and LLMQ Chainlocks system combining fair distribution of supply with protection against 51% attacks and quick finality of blocks and transactions.

Firo Storage Key Points

Coin BasicInformation
Coin NameFiro
Short NameFIRO
Circulating Supply13,070,662.31 FIRO
Total Supply12,427,855
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Official Project WebsiteClick Here To Visit Project Website

Privacy Infrastructure

Firo Elysium tokenization layer allows users to create their own privacy-enabled tokens with use-cases from private stablecoins or voting tokens and in the future offer privacy for bridged assets from other chains. Helsing is a protocol extension to Spark that allows for private staking operations not requiring transparent addresses or outputs. Specifically, Helsing provides for Spark-compatible collateral staking and coinbase payouts.

Research and Development

Firo stands out as one out of a handful of projects that contribute independent research to blockchain privacy and decentralization technologies such as Sigma, Lelantus, Lelantus Spark and MTP. Your work has played a pivotal role in the space having influenced or been adopted in other projects. The third and fourth verification steps in the Parallel One-Out-Of-Many Proving System is incorrect as the equality no longer holds. The second summation term within the left hand side of the equality should be a product term as the protocol uses additive notation.

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 Spark Secure and Flexible Private Transactions

Firo propose a modification to the Lelantus private transaction protocol to provide recipient privacy, improved security, and additional usability features. Your decentralized anonymous payment (DAP) construction, Spark, enables non-interactive one-time addressing to hide recipient addresses in transactions. The modified address format permits flexibility in transaction visibility. Address owners can securely provide third parties with opt-in visibility into incoming transactions or all transactions associated to the address; this functionality allows for offloading chain scanning and balance computation without delegating spend authority.

It is also possible to delegate expensive proving operations without compromising spend authority when generating transactions. Further, the design is compatible with straightforward linear multi-signature operations to allow mutually non-trusting parties to cooperatively receive and generate transactions associated to a multi-signature address. They prove that Spark satisfies formal DAP security properties of balance, non-malleability, and ledger indistinguishability.

Spats user-defined confidential assets for the Spark transaction protocol

In privacy-preserving transaction protocols, confidential asset designs permit transfer of quantities of distinct asset types in a way that obscures their types and values. Spark is a protocol that provides flexible privacy properties relating to addressing, transaction sources and recipients, and value transfer; however, it does not negatively support the use of multiple confidential asset types. Here they describe Spats, a new design for confidential assets compatible with Spark that focuses on efficient and modular implementation.

It does so by extending coin value commitments to bind and mask an asset type, and asserting in zero knowledge that this type is maintained throughout transactions. They describe the cryptographic components and changes to the Spark protocol necessary for the design of Spats.