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Zcoin upcoming project name rebrand and futures plans

By RafaƂ - 2020-10-28

Earlier today, the core team of Zcoin shared a major news for the community and project with the upcoming rename to Firo and its new ticker: XFR, pronounced “fee-roh”. Firo is not a new blockchain, but a new identity to differentiate from the existing brand and make financial privacy more accessible to more people across the globe. When Zcoin launched in 2016, the team pioneered the use of the Zerocoin protocol.

The name ‘Firo’ was chosen for two reasons:

  • This name establishes a new metaphor of ‘burning’ coins and ‘redeeming’ them. The concept of melting down coins and forging brand new ones is a great analogy to the way Lelantus works.

  • Secondly, “Firo” which sounds like money are geared toward user-friendliness and mass adoption for the pleasure of the community. Firo conjures up images of something fully aliveconsisting of fire or burning strongly and brightly, the name is set to evoke a phoenix rising from the ashes.

Timeline and future changes

On the 30 November 2020, the rebrand will take effect and zcoin.io will redirect to firo.org. At that time, wallets and exchange partners will replace the Zcoin name, symbol and logo with that of Firo in order to help for a smooth transition. Until that date , the team is fully working with wallets, exchanges, PR companies and social media influencers to spread the announcement and ensure a perfect transition.

Firo will use the same blockchain as Zcoin with no coin swap at all. Current Zcoin holders can use their same credentials to send, receive, burn and redeem Firo. This new date arrives at the same period as the release of the Lelantus mainnet binaries with the updated Firo branding, and both changes will go into effect in a single software update.

More details on the upcoming changes and Firo can be read at https://zcoin.io/