Formerly known as Zcoin, firo is a cryptocurrency that uses cryptographic methods like coin-mixing to improve privacy for its users. It is considered much more private than Bitcoin. Initially proposed to be called “Moneta,” Zcoin was conceptualized in 2014 and first issued on September 28, 2016. Poramin Insom is the lead developer of this project and has written a paper on implementing the Zerocoin protocol into a cryptocurrency for John Hopkins University. He did this when he was a master’s student in Security Informatics!
Due to a history of 51% attacks and hacks, FIRO adopted the Lelantus Spark Protocol in August 2021 and the Dandelion++ Protocol in 2018. FIRO has high anonymity sets (2 to the power 16), and Dandelion++ provides network-layer privacy. The FIRO coin uses a hybrid system of PoW (Proof of Work) and LLMQ (Long-living Masternode Quorums) to ensure that a 51% attack does not occur. So is it profitable to mine FIRO? Can you mine 1 FIRO with a GPU? Find the answers to all these queries in this article on how to mine FIRO.
Is FIRO Mining Profitable?
The profitability of most coins depends on various factors, such as market sentiment, power consumption, gas fees, and trading volume. If there is a positive difference between the invested amount (electricity, internet, etc.) and the gained amount (FIRO converted into $), mining FIRO will return a profit.
If your electricity costs are lower than 0.218 USD per kWh and you’re using an RTX 3080TI, you can profitably mine FIRO.
How to Mine FIRO: Our Top 5 Recommendations
Choose A Wallet
There are many options when looking for a wallet to mine FIRO. On Microsoft Windows, you can use QT Wallet for high security, Electron for a better UI, and Electrum for a lightweight option. For Android and iOS, you can choose any of the Android, Stack, and Campfire Wallets. FIRO also supports some third-party wallets. Here is the list:
- NOW Wallet
- ZelCore Wallet
- Guarda Wallet
- Coinomi Wallet
- Edge Wallet
- Cobo Wallet
- Ownbit Wallet
Select a Mining Software
Two extensively used options for mining FIRO using Nvidia and AMD GPUs exist. For Nvidia, T-Rex is used. For AMD, TeamRedMiner and SRBMiner-Multi are the best bets. Mining software takes up to a 2% fee and is a closed source. Also, remember that FIRO provides a 0% fee for the mining software called “Firominer.” It is the official reference miner and is open source. (NOTE: You need more than 6 GB of VRAM to mine FIRO.)
Get All The Required Mining Hardware
A Microsoft Windows operating system and a High-End GPU like the RTX 3090 would be the required hardware to fully utilise your power and internet bills to mine FIRO. You can use Linux, but it has to adapt to it. Make sure that your GPU has at least 6 GB of VRAM.
Configure the Hardware and Software
After unzipping the Mining Software folder, you should open a text editor to enter your wallet and pool details. After that, you must save the .txt file into the miner folder as a .bat file. The steps are provided for different mining software and different GPUs.
For Pool Mining
- Firominer has AMD (firominer -G -P stratum+tcp://username.worker:password@POOLADDRESS:PORT)
- Firominer has Nvidia (firominer -U -P stratum+tcp://username.worker:password@POOLADDRESS:PORT)
- T-Rex Miner has (t-rex.exe -a firopow -o stratum+tcp://POOLADDRESS:PORT -u username.worker -p password)
- TeamRedMiner has (teamredminer.exe -a firopow -o stratum+tcp://POOLADDRESS:PORT -u username.worker -p password)
- SRBMiner-Multi has (SRBMiner-MULTI.exe –disable-cpu –algorithm firopow –pool POOLADDRESS:PORT –wallet username.worker –gpu-boost 3)
For Solo Mining
You must navigate to the default data directory, create a file called “fire.conf”, and modify the given lines to do solo mining.
- rpcuser=RPCUSER (up to you to change)
- rpcpassword=RPCPASSWORD (up to you to change)
- rpcport=8382
- rpcallowip=127.0.0.1
- listen=1
- server=1
- daemon=1
After that, make a new .bat file called “miner.bat,” and add this (firominer -P http://RPCUSER:RPCPASSWORD@127.0.0.1:8382 –reward-address YOURFIROADDRESS). Make sure to save this in the same folder as the .conf file, and both match settings such as rpcuser, rpcpassword, and rpcport.
Join A Mining Pool
You can choose from an array of Mining Pools to mine FIRO, such as:
- Mintpond
- WoolyPooly
- 2Miners
- Nano pool’s Picopool
- Zergpool
- Solo Pool
- Cruxpool
- Speedpool
- Minerpool
- BadHasher
- K1Pool
Replace the default address in the .bat files with the mining address provided in these pools to mine FIRO. Enter your username or worker details to get the pool address and port. Also, remember to run the file!
Also read: Check FIRO Prices Live
Popular video guides on FIRO
How Does FIRO Mining Work?
FIRO is mined using GPUs and uses the FiroPoW mining algorithm. It is a modified version of the ProgPow mining algorithm. The algorithm utilizes all parts of a GPU and has a random sequence that changes every block to strengthen ASIC resistance further. FiroPoW is both FPGA and ASIC-resistant, which levels the playing field, enhances inclusiveness, and allows people to mine from their home computers.
FIRO follows a Masternode system, in which systems are incentivized to host FIRO’s infrastructure to protect the blockchain from 51% attacks via the LLMQ chain locks and instant sends.
How Long Does It Take to Mine One FIRO?
With a single unit of the RTX 3080TI, it would take 5 days to mine 1 FIRO. The current Firo network hashrate is 104.5042 GH/s. You can calculate the time it takes for your rig to mine one FIRO by providing values such as current hash rate, electricity charges, and more using these calculators:
- NiceHash
- Minerstat
How Difficult Is It to Mine FIRO?
The difficulty of mining FIRO depends on factors such as competition, pool attendance, hardware capabilities, and internet connection. The current difficulty rate is 6.2452K.
What All Do You Need to Mine FIRO?
1. Hardware:
You can use both Nvidia and AMD GPUs to mine FIRO. You must use the Microsoft Windows operating system and, if necessary, Linux for a profitable outcome. Some recommended graphics cards are:
- NVIDIA GeForce RTX 3090
- NVIDIA GeForce RTX 3080 Ti
- NVIDIA GeForce RTX 3080
- NVIDIA GeForce RTX 3070 Ti
- NVIDIA GeForce RTX 3070
- AMD Radeon RX 6900 XT
- AMD Radeon RX 6800 XT
- NVIDIA GeForce RTX 3060 Ti
- AMD Radeon RX 6700 XT
- NVIDIA GeForce RTX 3060
- RTX 3090 with a cloaking speed of 900 Mh/s
- RTX 3080 with a cloaking rate of 850 Mh/s
- GTX 2080 Ti has a cloaking rate of 700 Mh/s
2. Software:
Microsoft Windows and Linux are the most commonly used operating systems to mine FIRO. It is due to the ease of editing the .bat files to register your wallet and mining pool addresses. Here are some of the mining software you can choose from:
- Official Reference Miner
- Nvidia GPU: T-Rex Miner
- AMD GPU: Team Red Miner
- AMD GPU: SRBMiner-Multi
Top Wallets to Store Your FIRO:
Here are the top Wallets to store your FIRO:
- NOW Wallet
- ZelCore Wallet
- Guarda Wallet
- Coinomi Wallet
- Edge Wallet
- Cobo Wallet
- Ownbit Wallet
Most frequently asked questions on FIRO Mining
Q1. Which miner is best for mining FIRO?
The best miners for FIRO are T-Rex, Team Red Miner, SRBMiner-Multi, and the Official Reference Miner. T-Rex supports only Nvidia GPUs like the RTX 3080, RTX 3090, etc. Team Red Miner and SRBMiner-Multi support AMD GPUs such as the AMD Radeon RX 6900 XT, AMD Radeon RX 6800 XT, and AMD Radeon RX 6700 XT.
Q2. Where can I buy FIRO?
You can buy FIRO from a variety of exchanges and platforms. You need to make an account on those sites, create a wallet, add funds to those wallets, and finally buy the cryptocurrency. Here are the supported ones:
- BKEX
- Deepcoin
- Binance
- Gate.io
- Huobi
- CoinEx
- Pionex
- BitMart
- Satang Pro
- Indodax
- MEXC Global
Q3. Who is the founder of FIRO Coin?
The founder of FIRO Coin is Poramin Insom, a computer science graduate from Thailand. He launched the FIRO project in 2016 and actively participated in crypto events. He is an active developer for this project and a lead advisor. He wrote a paper at John Hopkins University on implementing the ZeroCoin Protocol, which took the form of ZCoin.
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