Where Firo is Accepted Locally and Globally
FIRO is a privacy-centric crypto backed by solid libertarian values. By design, it’s a quintessential commerce coin accepted by businesses around the globe, from a Panamian cloud hosting company to a European e-commerce store offering many thousands of products.
Who accepts Firo…
Are you an Entrepreneur, freelancer, or manager of a business accepting cryptocurrency?
Should you buy Firo?
FIRO may sound like a dog’s name but this crypto is no meme or joke, they are building the “private self-sovereign money” that the world needs. The case for privacy coins is pretty simple, people don’t want governments, banks, and big tech snooping on their commerce. Rich people want to put their wealth in places where it won’t be subject to onerous taxation. If you believe that privacy is a basic human right that we need to fight for, pay for it — invest in privacy coins…
Isthiscoinascam.com gave FIRO a score of 4.30/10 which is not great but unlike some privacy coins, the aggressively innovative and marketing-minded team behind it is not pseudonymous.
The ever-looming risk with privacy coins is that the government might ban them, but that hasn’t happened yet and governments won’t be able to ban them everywhere. I’ll opine that I’m still not a true believer in privacy coins, you can be assured that while blockchain developers like FIRO are building better (stealthier) mice, governments are building smart mousetraps. The Biden administration wants to give the IRS an additional $80 billion in funding to go after “tax cheats” — how much of that will go towards cracking on code on privacy coins? For this reason and others, I’d urge you NOT to use privacy coins to do anything illegal.
About Firo
FIRO is a rebranding, it was formerly known as ZCOIN. I think FIRO is catchier and it reflects the FIRO team’s commitment to progress. It uses the Sigma privacy protocol, they are no longer using the older flawed Zerocoin privacy protocol.
The former ticker symbol for Zcoin, XZC, is being updated as part of the rebranding process. In October, the community voted on the new ticker FIRO, following feedback that the initial selection — XFR — while following ISO standards might cause confusion and prevent association with the project name.
From firo.org
Bitcoin is the first e-cash system to see widespread adoption. While Bitcoin offers the potential for new types of financial interaction, it has significant limitations regarding privacy. Specifically, because the Bitcoin transaction log is completely public, users’ privacy is protected only through the use of pseudonyms. In this paper we propose Zerocoin, a cryptographic extension to Bitcoin that augments the protocol to allow for fully anonymous currency transactions. Our system uses standard cryptographic assumptions and does not introduce new trusted parties or otherwise change the security model of Bitcoin. We detail Zerocoin’s cryptographic construction, its integration into Bitcoin, and examine its performance both in terms of computation and impact on the Bitcoin protocol.
From the abstract of the ZCoin (XZC) Whitepaper
