Firo
Crypto Overview
Project Overview
Firo (formerly known as Zcoin) is a privacy-focused cryptocurrency that implements the Lelantus privacy protocol. It enables users to conduct private financial transactions on a public blockchain through zero-knowledge cryptography.
Intended Utility
The primary purpose of Firo is to serve as a medium of exchange that preserves financial privacy. It achieves this through innovative cryptographic techniques that allow users to burn visible coins and redeem them later for new coins with no transaction history.
Actual Utility Assessment
The project demonstrates genuine utility through its privacy-preserving technology. On-chain analysis shows consistent network activity with regular private transactions being processed. The development team maintains active GitHub repositories with regular updates to the core protocol.
Token Distribution and Governance
Firo implements a fair mining distribution model with no pre-mine. The project is funded through a portion of the block reward (15%) that goes to development. The development fund is managed through a DAO structure where stakeholders can participate in governance decisions.
Technical Development
The project shows strong technical fundamentals with regular protocol improvements. The team has consistently delivered on their technical roadmap, including the successful implementation of the Lelantus protocol and subsequent improvements.
Founder Assessment
The project demonstrates transparency in leadership and development. The team has maintained consistent development work since 2016, with a strong focus on technological advancement rather than marketing hype. The founders have maintained their involvement and shown commitment to the project's long-term success.
Crypto Impact
To assign a comfort level investing in Firo from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Firo.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.