What is Firo?
When Zcoin launched in 2016, they pioneered the use of the Zerocoin protocol. Since that time, innovations by Zcoin and others have made that story less relevant especially since we now use Sigma and currently transitioning to Lelantus. Moreover, despite more than 4 years in the space, the similarity with Zcash is both confusing and misleading: though we both deal with privacy, they’re fundamentally different technologies, based on different priorities and values.
What does this mean for Zcoin holders?
Firo will use the same blockchain as Zcoin. There is no chain swap. Current Zcoin holders can use their same credentials to send, receive, burn and redeem Firo. Your Zcoin balance will be updated to an identical Firo balance.
What about Lelantus?
The rebrand coincides with the release of the Lelantus mainnet binaries with the updated Firo branding, and both changes will go into effect in a single software update. With the simultaneous launch of Lelantus and Firo, the team is double-down on founding commitment to financial privacy. Lelantus will itself activate in January to take into account the end of year holidays.
What's new with Lelantus?
Lelantus introduces a burn-and-redeem model that allows users to burn (or destroy) coins of arbitrary amounts — even partial ones — and redeem brand new coins that do not appear to have previous transaction histories associated with them. This technique provides unparalleled levels of practical privacy, and greatly differs from decoy methods currently out there.
What about the ticker change?
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. FIRO as the ticker helps with name recognition.