Zcoin (XZC) is an open source cryptocurrency token that was launched in September 2016. Zcoin originally used Zerocoin for privacy for the first time, but has since moved on to a scheme called Sigma, based on an article by Jens Groth and Markulf. Colvais, which is reported to provide greater scalability and eliminates the need for reliable configuration in Zerocoin. Thanks to the Zcoin Sigma function, only the sender and the recipient will be able to determine the exchange of funds in this transaction, since transaction histories are not associated with real coins. Zcoin is also the creator of the Lelantus privacy protocol, which improves Sigma’s privacy and functionality.

  • Zcoin will be renamed to Firo

Zcoin has been renamed Firo, read more here. Please note that some exchanges may not have changed their tickers from XZC to FIRO yet. Please confirm the exchange twice before transferring funds. On November 30, 2020 UTC 0800 Zcoin will be renamed to Firo with the ticker changed from XZC to FIRO.

  • Will there be other rebranding changes?

Apart from the name and ticker change, the official Zcoin homepage Zcoin.io will be redirected to Firo.org. As part of the rebranding, changes will also be made to social media profiles.

  • What should I do as an XZC owner?

If you keep XZC in your wallet, you don’t need to do anything. There will be no chain swaps throughout the entire rebranding process. Current XZC holders can use their credentials to send, receive, record and use FIRO after rebranding. Make sure you have the latest version of the wallet installed at https://firo.org / get-firo / download / .

However, if you are holding XZC in an exchange, please check with the exchange.

  • Where can I find more information?

Be sure to read the official announcement blog for more information.

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.

How does Firo work? 

Firo enables untraceable anonymous payments based on four main technological foundations. 

i.) Its self-researched Lelantus privacy protocol allows you to burn your coins, which hides them in an anonymity set of over 65,000. Thereafter, the receiver can redeem it from this anonymity pool, which breaks the links from your transactions and all the previous ones it has been through. This protocol also supports untraceable direct anonymous payments by allowing people to pass the right to redeem to someone else. 

ii.) Lelantus technology is also equipped with 256 bit ECC curves for proof sizes of just 1.5kB, which poses as a 17x improvement compared to standard cryptographic approach. So, it is relatively less resource-intensive and time consuming compared to other privacy coins. 

iii.) Dandelion++ technology works to obscure the originating IP of transactions. Before Firo transactions are broadcast to the network, they’re randomized between nodes, which then decorrelates the link between the origin of the broadcast and the originating IP address.

iv.) Firo’s own Proof-of-Work, known as Merkle Tree Proof (MTP), provides fast verification that ensures a low barrier to entry for miners. Firo’s blockchain is also further secured with LLMQ ChainLocks which protects it against 51% mining attacks

Why was Firo created? 

Firo was created to increase individual liberty and to provide freedom of commerce. In standard blockchains that only offer pseudo-anonymity, it is the links between addresses that can expose private information about you. Firo aims to solve this problem by aiming to provide the strongest level of anonymity without foregoing usability and requiring trust.

How do I get FIRO? 

You can obtain FIRO by purchasing them from cryptocurrency exchanges such as Binance or Huobi Global.

Besides purchasing Firo tokens through exchanges, it is possible to earn newly minted Firo by running a masternode. Or alternatively, Firo can also be mined by CPUs and GPUs.

Further, STFIRO allows users to earn FIRO through stakingFiro tokens on StakeHound. 

Zcoin Core

Preparing to Install Blockchain Blocks Zcoin (XZC)

  1. Make sure that your hard disk has enough free space, it takes about 15 GB;
  2. Download Zcoin Core
  3. Download the archive with the Zcoin blockchain (XZC)

Import Blockchain Blocks Zcoin (XZC)

After the files have downloaded, we can start importing Zcoin blocks (XZC), for this:

  1. Create a folder where we will place the blocks, for example, “Zcoin (XZC)”;
  2. We dig into it an archive with blocks;
  3. Next, in the same folder, run – “Zcoin.exe”
  4. The “Zcoin Core” window will open, select our just created folder “Zcoin (XZC))” and click “Next”, after which the assembly of the Zcoin blockchain database (XZC) and synchronization with the network will begin;
  5. Done! Now you can use Zcoin (XZC) – wallet!