<s>
Firo	B-Protocol
,	O
formerly	O
known	O
as	O
Zcoin	B-Protocol
,	O
is	O
a	O
cryptocurrency	O
aimed	O
at	O
using	O
cryptography	O
to	O
provide	O
better	O
privacy	O
for	O
its	O
users	O
compared	O
to	O
other	O
cryptocurrencies	O
such	O
as	O
Bitcoin	B-Protocol
.	O
</s>
<s>
In	O
late	O
2014	O
,	O
Poramin	O
Insom	O
,	O
a	O
student	O
in	O
Masters	O
in	O
Security	O
Informatics	O
from	O
Johns	O
Hopkins	O
University	O
wrote	O
a	O
paper	O
on	O
implementing	O
the	O
zerocoin	B-Protocol
protocol	I-Protocol
into	O
a	O
cryptocurrency	O
with	O
Matthew	O
Green	O
as	O
faculty	O
member	O
.	O
</s>
<s>
The	O
project	O
to	O
create	O
a	O
standalone	O
cryptocurrency	O
implementing	O
the	O
Zerocoin	B-Protocol
protocol	I-Protocol
was	O
named	O
"	O
Moneta	O
"	O
.	O
</s>
<s>
On	O
28	O
September	O
2016	O
,	O
Zcoin	B-Protocol
,	O
the	O
first	O
cryptocurrency	O
to	O
implement	O
the	O
zerocoin	B-Protocol
protocol	I-Protocol
,	O
was	O
launched	O
by	O
Poramin	O
Insom	O
and	O
team	O
.	O
</s>
<s>
On	O
20	O
February	O
2017	O
,	O
a	O
malicious	O
coding	O
attack	O
on	O
Zerocoin	B-Protocol
protocol	I-Protocol
created	O
370,000	O
fake	O
tokens	O
which	O
perpetrators	O
sold	O
for	O
over	O
400	O
Bitcoins	B-Protocol
( $	O
440,000	O
)	O
.	O
</s>
<s>
Zcoin	B-Protocol
team	O
announced	O
that	O
a	O
single-symbol	O
error	O
in	O
a	O
piece	O
of	O
code	O
"	O
allowed	O
an	O
attacker	O
to	O
create	O
Zerocoin	B-Protocol
spend	O
transactions	O
without	O
a	O
corresponding	O
mint	O
"	O
.	O
</s>
<s>
Unlike	O
Ethereum	B-Application
during	O
the	O
DAO	O
event	O
,	O
developers	O
have	O
opted	O
not	O
to	O
destroy	O
any	O
coins	O
or	O
attempt	O
to	O
reverse	O
what	O
happened	O
with	O
the	O
newly	O
generated	O
ones	O
.	O
</s>
<s>
In	O
September	O
2017	O
,	O
Poramin	O
set	O
up	O
an	O
exchange	O
named	O
"	O
Satang	O
Pro	O
"	O
that	O
can	O
convert	O
Thai	O
Baht	O
to	O
Zcoin	B-Protocol
directly	O
.	O
</s>
<s>
In	O
April	O
2018	O
,	O
a	O
cryptographic	O
flaw	O
was	O
found	O
in	O
the	O
Zerocoin	B-Protocol
protocol	I-Protocol
which	O
allowed	O
attackers	O
to	O
steal	O
,	O
destroy	O
,	O
and	O
create	O
Zcoins	B-Protocol
.	O
</s>
<s>
The	O
Zcoin	B-Protocol
cryptocurrency	O
team	O
while	O
acknowledging	O
the	O
flaw	O
,	O
stated	O
the	O
high	O
difficulty	O
in	O
performing	O
such	O
attacks	O
and	O
the	O
low	O
probability	O
of	O
giving	O
economic	O
benefit	O
to	O
the	O
attacker	O
.	O
</s>
<s>
In	O
August	O
2018	O
,	O
Boozeat	O
,	O
a	O
liquor	O
delivery	O
service	O
in	O
Malaysia	O
accepted	O
Zcoin	B-Protocol
as	O
a	O
payment	O
method	O
.	O
</s>
<s>
In	O
September	O
2018	O
,	O
Zcoin	B-Protocol
introduced	O
the	O
Dandelion	O
protocol	O
that	O
hides	O
the	O
origin	O
IP	O
address	O
of	O
a	O
sender	O
without	O
using	O
The	B-Application
Onion	I-Application
Router	I-Application
(	O
Tor	B-Application
)	O
or	O
Virtual	B-Application
Private	I-Application
Network	I-Application
(	O
VPN	B-Application
)	O
.	O
</s>
<s>
In	O
November	O
2018	O
,	O
Zcoin	B-Protocol
conducted	O
the	O
world	O
's	O
first	O
large-scale	O
party	O
elections	O
for	O
Thailand	O
Democrat	O
Party	O
using	O
blockchain	O
instead	O
of	O
relying	O
the	O
election	O
commission	O
to	O
count	O
the	O
votes	O
.	O
</s>
<s>
In	O
the	O
same	O
month	O
,	O
a	O
video	O
named	O
"	O
Rap	O
Against	O
Dictatorship	O
"	O
was	O
uploaded	O
to	O
Zcoin	B-Protocol
blockchain	O
after	O
Thailand	O
government	O
's	O
threat	O
of	O
arresting	O
the	O
people	O
involved	O
in	O
the	O
video	O
for	O
speaking	O
against	O
government	O
policies	O
.	O
</s>
<s>
In	O
December	O
2018	O
,	O
Zcoin	B-Protocol
implemented	O
Merkle	B-Algorithm
tree	I-Algorithm
proof	O
,	O
a	O
mining	O
algorithm	O
that	O
deters	O
the	O
usage	O
of	O
Application-specific	O
integrated	O
circuit	O
(	O
ASIC	O
)	O
in	O
mining	O
coins	O
by	O
being	O
more	O
memory	O
intensive	O
for	O
the	O
miners	O
.	O
</s>
<s>
This	O
allows	O
ordinary	O
users	O
to	O
use	O
central	B-General_Concept
processing	I-General_Concept
unit	I-General_Concept
(	O
CPU	O
)	O
and	O
graphics	B-Device
card	I-Device
for	O
mining	O
,	O
so	O
as	O
to	O
enable	O
egalitarianism	O
in	O
coin	O
mining	O
.	O
</s>
<s>
In	O
February	O
2019	O
,	O
Zcoin	B-Protocol
was	O
added	O
to	O
wallet	B-Protocol
supported	O
by	O
Binance	O
cryptocurrency	O
exchange	O
.	O
</s>
<s>
In	O
the	O
same	O
month	O
,	O
Zcoin	B-Protocol
partnered	O
with	O
Binance	O
Charity	O
Foundation	O
to	O
raise	O
funds	O
for	O
"	O
Lunch	O
for	O
Children	O
"	O
program	O
in	O
Africa	O
.	O
</s>
<s>
On	O
25	O
April	O
2019	O
,	O
Zcoin	B-Protocol
was	O
listed	O
on	O
Indonesian	O
digital	O
exchange	O
KoinX	O
.	O
</s>
<s>
On	O
30	O
July	O
2019	O
,	O
Zcoin	B-Protocol
formally	O
departed	O
from	O
the	O
zerocoin	B-Protocol
protocol	I-Protocol
by	O
adopting	O
a	O
new	O
protocol	O
called	O
"	O
Sigma	O
"	O
that	O
prevents	O
counterfeit	O
privacy	O
coins	O
from	O
inflating	O
coin	O
supply	O
.	O
</s>
<s>
This	O
is	O
achieved	O
by	O
removing	O
a	O
feature	O
called	O
"	O
trusted	O
setup	O
"	O
from	O
the	O
zerocoin	B-Protocol
protocol	I-Protocol
.	O
</s>
<s>
In	O
August	O
2019	O
,	O
Zcoin	B-Protocol
was	O
added	O
to	O
an	O
African	O
cryptocurrency	O
exchange	O
named	O
OVEX	O
.	O
</s>
<s>
In	O
December	O
2019	O
,	O
Zcoin	B-Protocol
introduced	O
a	O
decentralised	O
crowdfunding	O
and	O
decision	O
making	O
system	O
to	O
fund	O
ancillary	O
tasks	O
for	O
the	O
project	O
.	O
</s>
<s>
In	O
July	O
2020	O
,	O
using	O
the	O
crowdfunding	O
system	O
,	O
Zcoin	B-Protocol
raised	O
US$	O
22,500	O
from	O
89	O
contributors	O
to	O
fund	O
the	O
first	O
phase	O
of	O
its	O
third-party	O
audit	O
of	O
Lelantus	O
protocol	O
.	O
</s>
<s>
In	O
January	O
2020	O
,	O
Zcoin	B-Protocol
will	O
implement	O
Receiver	O
Address	O
Privacy	O
(	O
RAP	O
)	O
so	O
that	O
users	O
can	O
share	O
a	O
single	O
permanent	O
address	O
to	O
the	O
public	O
to	O
receive	O
money	O
without	O
the	O
outsiders	O
knowing	O
any	O
transaction	O
history	O
in	O
the	O
address	O
.	O
</s>
<s>
In	O
May	O
2020	O
,	O
Zcoin	B-Protocol
announced	O
that	O
all	O
founder	O
rewards	O
will	O
be	O
ceased	O
,	O
while	O
at	O
the	O
same	O
time	O
increase	O
development	O
funding	O
to	O
15%	O
of	O
the	O
block	O
reward	O
,	O
and	O
allocated	O
35%	O
of	O
the	O
block	O
reward	O
to	O
masternodes	O
.	O
</s>
<s>
In	O
September	O
2020	O
,	O
Zcoin	B-Protocol
completed	O
first	O
halving	O
of	O
block	O
rewards	O
.	O
</s>
<s>
In	O
the	O
same	O
month	O
,	O
Zcoin	B-Protocol
was	O
added	O
to	O
Stakehound	O
for	O
easy	O
accessibility	O
to	O
Decentralized	B-Protocol
finance	I-Protocol
(	O
DeFi	B-Protocol
)	O
while	O
earning	O
staking	O
rewards	O
.	O
</s>
<s>
In	O
October	O
2020	O
,	O
Zcoin	B-Protocol
announced	O
rebranding	O
to	O
new	O
name	O
called	O
"	O
Firo	B-Protocol
"	O
which	O
signifies	O
a	O
unique	O
way	O
of	O
burn	O
(	O
destroy	O
)	O
and	O
redeem	O
coins	O
.	O
</s>
<s>
Firo	B-Protocol
suffered	O
51%	O
attack	O
in	O
January	O
2021	O
.	O
</s>
<s>
In	O
June	O
2021	O
,	O
Firo	B-Protocol
was	O
added	O
to	O
NOBI	O
trading	O
platform	O
based	O
in	O
Indonesia	O
.	O
</s>
<s>
Firo	B-Protocol
implemented	O
Receiver	O
Address	O
Privacy	O
(	O
RAP	O
)	O
in	O
June	O
2021	O
.	O
</s>
<s>
In	O
August	O
2021	O
,	O
Firo	B-Protocol
announced	O
the	O
Lelantus	O
Spark	O
protocol	O
.	O
</s>
<s>
Firo	B-Protocol
initially	O
implemented	O
the	O
Zerocoin	B-Protocol
protocol	I-Protocol
.	O
</s>
<s>
Unlike	O
bitcoin	B-Protocol
,	O
money	O
does	O
not	O
travel	O
from	O
one	O
block	O
to	O
another	O
.	O
</s>
<s>
Instead	O
,	O
it	O
is	O
traded	O
as	O
Zerocoin	B-Protocol
and	O
redeem	O
for	O
a	O
new	O
coin	O
without	O
any	O
history	O
of	O
transaction	O
.	O
</s>
<s>
There	O
had	O
been	O
little	O
research	O
interest	O
into	O
Zerocoin	B-Protocol
protocol	I-Protocol
because	O
of	O
its	O
similarity	O
to	O
Zerocash	O
protocol	O
.	O
</s>
<s>
Firo	B-Protocol
implemented	O
the	O
Dandelion++	O
protocol	O
in	O
2018	O
.	O
</s>
<s>
In	O
June	O
2021	O
,	O
Firo	B-Protocol
introduced	O
Receiver	O
Address	O
Privacy	O
(	O
RAP	O
)	O
addresses	O
,	O
an	O
adaptation	O
of	O
BIP47	O
.	O
</s>
<s>
RAP	O
allows	O
users	O
to	O
be	O
able	O
to	O
publicly	O
post	O
their	O
wallet	B-Protocol
addresses	O
without	O
having	O
to	O
worry	O
about	O
privacy	O
.	O
</s>
<s>
In	O
the	O
past	O
,	O
wallet	B-Protocol
users	O
had	O
to	O
create	O
and	O
share	O
freshly	O
generated	O
addresses	O
to	O
attempt	O
to	O
maintain	O
their	O
privacy	O
.	O
</s>
<s>
Firo	B-Protocol
implemented	O
the	O
MTP	O
algorithm	O
in	O
December	O
2018	O
.	O
</s>
<s>
Using	O
video	B-Device
cards	I-Device
,	O
mining	O
Firo	B-Protocol
can	O
be	O
more	O
profitable	O
than	O
mining	O
ethereum	B-Application
.	O
</s>
<s>
Poramin	O
Insom	O
argued	O
that	O
such	O
ban	O
lacks	O
rationale	O
and	O
clarity	O
because	O
all	O
cryptocurrencies	O
including	O
bitcoin	B-Protocol
have	O
some	O
privacy	O
features	O
in	O
it	O
.	O
</s>
<s>
In	O
October	O
2018	O
,	O
Firo	B-Protocol
was	O
ranked	O
top	O
25	O
,	O
with	O
fully	O
diluted	O
market	O
capitalisation	O
of	O
US$	O
194,506,940	O
dollars	O
.	O
</s>
<s>
Firo	B-Protocol
had	O
an	O
all-time	O
high	O
price	O
of	O
US$170	O
per	O
coin	O
in	O
2017	O
–	O
2018	O
.	O
</s>
<s>
In	O
February	O
2020	O
,	O
Firo	B-Protocol
price	O
dropped	O
to	O
US$3	O
to	O
US$5	O
dollars	O
per	O
coin	O
.	O
</s>
<s>
Firo	B-Protocol
was	O
priced	O
at	O
US	O
$7.5	O
in	O
September	O
2021	O
.	O
</s>
<s>
However	O
,	O
according	O
to	O
a	O
master	O
thesis	O
written	O
by	O
Bontekoe	O
,	O
T.H	O
from	O
University	O
of	O
Twente	O
,	O
he	O
would	O
prefer	O
zk-SNARKS	O
for	O
digital	O
payments	O
because	O
as	O
"	O
the	O
used	O
primitives	O
in	O
Zcoin	B-Protocol
(	O
Lelantus	O
)	O
do	O
currently	O
not	O
allow	O
for	O
the	O
extensive	O
statements	O
that	O
we	O
most	O
likely	O
require	O
to	O
make	O
our	O
scheme	O
anonymous	O
and	O
auditable.	O
"	O
</s>
