Firo joins the BPSAA
Firo joins the BPSAA — The Blockchain Privacy, Security and Adoption Alliance! It is the newest member and it is the 11th project to join the fast-growing BPSAA think tank.
Firo (FIRO) is a privacy-preserving cryptocurrency and ecosystem. The platform is at the forefront of cryptocurrency privacy with Lelantus and Lelantus Spark providing trustless, on-chain privacy with high anonymity sets.
The Firo employs Dandelion++ for network layer privacy and has hybrid PoW and LLMQ Chainlocks which combines fair distribution of supply with protection against 51% attacks and quick finality of blocks and transactions.
Furthermore, Firo’s Elysium is a tokenization layer that allows users to create their own privacy-enabled tokens with use cases from private stablecoins as well as voting tokens – all the way to privacy for bridged assets from other chains, making an extremely versatile privacy coin.
Brief information about FIRO
Firo is protected from 51% attacks by employing LLMQ Chainlocks through our master node network. It also uses the privacy protocol Lelantus. In addition, an update to this called Lelantus Spark coming out later this year. (2022)
Furthermore, this privacy protocol uses a burn and mint model where coins are anonymized, which sends them to an accumulator with an anonymity set of over 65,000. Additionally, these anonymized coins are then able to be redeemed at a later time, at any amount, from the accumulator which creates fresh coins with no transaction history to be sent wherever desired.
Furthermore, Lelantus Spark makes many improvements on this including hiding all transactions, auto-anonymizing all incoming transactions, and more. Moreover, seeing the need for privacy, Firo also recognizes the need for there to be privacy infrastructure.
LET,S DIVE DEEPER
With this intention in mind, Firo has created its tokenization layer, Elysium, which will allow users to create their own tokens with privacy on the Firo blockchain, but it will also allow bridging of assets from other chains and will provide them the power of Lelantus privacy.
Additionally, Firo has been developing and furthering technology in the privacy sector, which is one of the core values of the BPSAA. The project’s experience in the development of privacy-focused tools. Its services will be greatly beneficial to all members of the alliance.
ABOUT FIRO
Firo is a privacy-preserving cryptocurrency and ecosystem. The platform is at the forefront of cryptocurrency privacy with Lelantus and Lelantus Spark providing trustless, on-chain privacy with high anonymity sets. Dandelion++ technology also provides network-layer privacy.
ABOUT BPSAA
The BPSAA is at its core, a think tank on blockchain projects. The founding members, are Pirate Chain, Turtle Network, Sentinel, and Ether-1. Established the alliance based on a shared desire to collaboratively improve the blockchain ecosystem. Firo joins a great selection of exciting new members including Ergo, Komodo, Signum, BitTube, DragonChain, Handshake and Conceal. In addition to the increased brain power, there are numerous mutual benefits with the new addition.
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BPSAA
