I’ve been invested in firo for a while and I thought it was a privacy coin in all sense. But just recently found out that it has not privacy in my wallets, Coinomi and Guarda wallet. I didn’t thought it was possible since it’s a privacy coin.
I really like the project and even have a node running, but, how is this coin different from Dash or MimbleWinble if it’s privacy is just opcional?
When I found out about this I bought some PirateChain and made some transactions and this coin and it has the privacy I want, couldn’t see Addresses, Value nor any sensitive data
I am starting to use the Android wallet, since I learned it uses Lelantus by default but it’s not ideal, I want all the network to be safe and anonymous
Enlight me on that please, Is this really how the network was planned? or it’ll be 100% anonymous in the future?
Our official wallets (QT/Electron/mobile) are already private by default. You will need to manually opt-in to use the transparent part of QT and Electron. This is not possible with the mobile wallet which is private-only. We cannot speak for third-party wallets.
Our next iteration, Lelantus Spark, will fully hide receiver and amounts with Spark addresses. Making our wallets private by default is a big part of moving to Lelantus Spark. Additionally we are looking at Helsing, a method to stake masternode collaterals privately.
The intention is indeed to move to privacy by default. There are several reasons why we aren’t currently.
When we started out as Zcoin, it used the Zerocoin protocol which was rather heavy on verification and proof sizes so it wasn’t that practical to have it full on default.
For the first few years, supply auditability (knowing how much supply exists) was a big focus especially when dealing with new privacy constructions and it has helped us detect problems with our privacy protocols in the past. From the lessons we learnt, we’re now much better equipped to prevent these type of issues and this is also why we are taking a phased approach to fully hiding amounts. Zerocoin/Sigma = no hidden amounts, Lelantus = partially hidden amounts (change amount and source amount hidden) and finally Lelantus Spark (full hidden amounts).
Masternodes which do several things like secure our chain against 51% attack and give almost instant confirmation of transactions despite a slower block time (good to prevent bloat) require a ‘staking’ mechanism. We have recently come up with a protocol called Helsing that would enable private staking but this is to be coded after we deploy Lelantus Spark.
There’s a heck lot of interoperability stuff that needs to be considered for eg. Atomic swaps/bridges need to be designed for fully private addresses and most atomic swap/bridge protocols now base their protocols off Bitcoin or Ethereum bases. While the technology is catching up, this is often low in the priority list of the bigger swap protocols who want to focus on building bridges to big chains rather than maintain a custom chain for one protocol. Having this transparent layer allows us easy integration to existing ecosystems that already have integrations for Bitcoin bases for e.g. AtomicDEX or even DotOracle. Monero is the only chain currently with sufficient size and community that there have been some custom integrations for them and Zcash has the money to make it happen as well but even then they’re generally few and far between. As a creator of our own privacy protocol this is something that we are aware of.
With Spark, we are going to be pushing heavily for all our major ecosystem components to remain in Spark addresses where everything is hidden. This means all our official wallets will support Spark addresses by default and prompt it. We’ll also be discussing with exchanges to support Spark address withdrawals so they can keep their own transparent address system that they have implemented but users can withdraw privately into Spark addresses.
We hope these efforts cut a balance between high privacy, interoperability and also existing ecosystem needs. Unlike other chains that rely on ‘decoys’, due to our large anon sets supported by Spark, we have less deanonymization issues. We however also think that the ecosystem as a large isn’t really meant for ‘single island’ projects and that bridges to other chains are essential for long term survival.
Thanks for the thorough reply
So, even with spark implemented, third party wallets would still have the option to send non private transactions? Can firo network anonimize it for everyone in the future?
I would recommend not using third party wallet.
Well multi-coin third party wallets are not likely to implement non-private transactions until we get bigger but we already have some third party wallets that would be implementing Lelantus privacy by default.
Hopefully this lays the groundwork for future wallet implementations but I’m already quite happy to have several privacy by default mobile wallet options.
Campfire, the upcoming Lelantus default only wallet by Cypherstack/Arcadia has been already submitted to IOS and Android store for approval.