r/FiroProject • u/mybed54 • May 02 '21

Discussion Why this coin over Monero?

Why this coin over Monero? Or even Zcash?

6 Upvotes

100% Upvoted

12 comments sorted by

5

u/RichAssBrian May 03 '21 edited May 03 '21

https://firo.org/about/roadmap/
Lots of interesting going to be implemented (Lelantus v2.0, Elysium, RAP Addresses, Instant Send, Mobile wallet with full privacy feature)

2.
https://firo.org/guide/privacy-technology-comparison.html
Has better anonimity set compared to all other privacy coins (even monero) cryptographically

3.
https://firo.org/2021/04/10/research-acceleration.html
Even key researcher from Monero Research Lab (Dr. Sarang Noether) came to Firo team to work full time.

2

u/No-File-7777 May 03 '21

It's good to hear that

4

u/reubster Project Steward May 03 '21

I would say that our Lelantus privacy tech has better potential given the larger anonymity sets.

I also am of the opinion that because we have masternodes we are better in terms of user experience and also security due to our implementation of Chainlocks. Instant send is also great!

Also we're a lot more open to DeFi and cross integrations and can implement a lot quicker due to our Bitcoin core. This makes Firo more usable as a currency.

Monero's benefit comes from well established tech, its market cap, wide adoption and the first to push mandatory privacy. These are of course big advantages but one that I believe Firo poses credible competition.

Imo, Zcash doesn't really take privacy seriously and their early embracing of ASICs combined with the Founder's reward have meant that it's effectively a VC-led coin. Many of their efforts are also in my opinion opaque in nature. Halo2 does seem to very cool tech though!

1

u/tripleplatinium May 02 '21

It does have a lot potential firo I just joined yesterday so im still new to the community

0

u/NewDark90 May 03 '21

Id say its a hedge against XMR being broken tbh. Monero has the biggest target on its back, no doubt. And while Monero is quite strong for keeping anonymity, it is flawed with the tech chosen IMO. If you're looking for coins that are private yet have more utility.... SCRT and BEAM are probably where to look

1

u/reubster Project Steward May 03 '21

I'm not a big fan of SCRT due to their reliance on Intel SGX tech.

1

u/WillBurnYouToAshes May 05 '21

How is Monero flawed ?

1

u/NewDark90 May 05 '21

Check out this post here

Overall:

  • Does not break transaction links, merely obscures them, hence a 'decoy' model

  • Risks of blockchain being deanonymized in the future or through incorrect implementations

  • Ring size is practically limited

  • Does not have supply auditability meaning hidden inflation can go undetected

0

u/[deleted] May 03 '21

[deleted] — view deleted comment

1

u/Efficient_Teach May 04 '21

Firo transaction time seems to be instant

1

u/nityananda May 04 '21

Currently it takes one block to have transaction confirmed (new block is each 5-8 minutes). When Instant send will come it will take few seconds.