Firo

Halal Rating :
Comfortable
Last Price $1.70 Last updated:
Rank 818
1D Change 0.31 %
Market Cap $23.24m
Circulating supply 13,700,863
Maximum supply 21,400,000

Crypto Overview

Categories
  • Mineable
  • PoW
  • Medium of Exchange
  • Privacy
  • Zero Knowledge Proofs
  • Masternodes

Firo - formerly known as Zcoin, is a privacy-focused cryptocurrency that deploys zero-knowledge proofs to ensure fully anonymous transactions. It works by allowing users to destroy coins and then redeem later for brand new ones with no transaction history.  Firo differs from the other privacy-centric coins in the market in that it does not merely obfuscate payment trails, but rather, works to abolish them.  Its operation is backed by the Lelantus privacy protocol, which is an upgrade from standard cryptographic assumptions, supporting high anonymity sets without requiring ‘trusted setup’.  Firo’s operations are also backed by Dandelion++ which conceals the originating IP of transactions, removing the need for external services such as Tor or i2P.  The Firo/Zcoin blockchain was used in the Thai Democrat Party Elections in 2018 to elect its party leader with over 127,000+ votes cast nationwide making it the first wide-scale application of blockchain technology in a political election.

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.

Justification for our Halal Rating