The Firo community launched a community fund at the start of the month. The community members of the ecosystem elected seven different fund committee members who will be responsible for approving financial decisions made in the community. Less than a week after, the FIRO token speedily surged and holders made gains of 2.5X and even more.
Following the price surge, the FIRO team took to Twitter to welcome new and existing embers of the ecosystem, reiterating the project’s privacy goals.
Firo’s Privacy Vision
Firo was launched in 2016, formerly called Zcoin. The token’s goal was to achieve blockchain privacy. While many other early projects launched at the time were just imitation copies of Bitcoin, the Firo team was bent on solving a problem.
The project was the first to implement the Zerocoin protocol for privacy and many other projects followed through. Firo developed Sigma, which utilized a zero-knowledge roof to achieve privacy. However, utilizing sigma was not enough to achieve full privacy.
While sigma was efficient, it did not conceal the amount for transactions. This spurred the Firo team to develop Lelantus Spark and Elysium. Lelantus Spark will be implemented on the protocol later this year.
Unlike sigma, Lelantus Spark hides transaction amounts. Lelantus Spark will also support hidden asset types, and be open for integration with other tokens.
Firo’s Value
About three days ago, Firo was valued at $1.3. In the last two days, holders of the token have seen huge gains. The token quickly sprung up to $3 within a day. The token slightly retraced before continuing with bullish momentum.
Firo hit the $4 mark, the $5 mark, and is now valued at $6.8. With Firo now set to implement further developments in its ecosystem, holders will be expecting a further surge. Amidst the bearish markets, FIRO has soared more than all top crypto assets in the past week.
