Firo has launched a new privacy upgrade called Lelantus. The recently upgraded protocol improves transaction privacy by eliminating Firo’s previous limitations. Firo was initially launched as ZCoin in 2016 as a privacy-focused open-source cryptocurrency. At its launch, the coin leveraged the ZeroCoin protocol. This zero-knowledge proof system enables users to destroy coins and then redeem them for new coins with no transaction history.
However, the Firo team later identified ZeroCoin’s limitations and dismissed those concerns in its Lelantus upgrade. The Firo team opines that Lelantus is a significant milestone in blockchain privacy. Thus, delivering the essential practical privacy levels without settling on trustlessness. It continues that Lelantus’ zero-knowledge proofs apply well-established cryptographic assumptions and utilize a simple, natural construction. Moreover, with the Lelantus protocol’s launch on the mainnet, including partial redemption, the users can use the 24-hour ticket for a few hours one day, none the next, and then the rest the subsequent day.
Firo’s Lelantus does not demand Trusted Setup
One should note that Lelantus does not need a trusted setup, according to the blog post announcing the mainnet launch. Trusted layouts are a fundamental step required by many other coins that employ zero-knowledge proofs. Nevertheless, these are not perfect in some cases as they demand known parties to engage in a setup ceremony, possibly negotiating privacy in the long run. The upgrade also enables users to burn and redeem coins of any amount. Following Lelantus, users can now do partial redemptions instead of saving burn amounts in full.
This approach is more comfortable for users. It also improves privacy by making the transactions approximately impossible to track. Eventually, with the Lelantus launch, Firo has added new scaling features such as faster proofs and decreased proof size for more secured transactions. The subsequent step for Lelantus, which Firo is already operating on, enables users to pass the right to redeem to someone else without disclosing its source or amount. In the last seven days, the FIRO token is up above 30%. According to Coingecko, the token is trading close to $4.
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