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Monero developers held another hard fork of the network

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Monero developers held another hard fork of the network

The creators of the anonymous cryptocurrency Monero carried out another hard fork of the network, as a result of which the block size was reduced, and the speed and confidentiality of transactions increased.

The hard fork took place on August 13 at 21:47 Moscow time on block 2 688 888. The update added a lot of new features to the network that ensure the confidentiality of transactions. The previous Bulletproofs algorithm, which is a zero-knowledge proof, has been updated to Bulletproofs+.

As a result, the number of signers for a ring signature has been increased from 11 to 16 per transaction. It will now become more difficult to determine which key was used to create the signature. This will further reduce the traceability of the transaction on the Monero network.

In addition, the update reduced the size of the blocks and increased the speed of transactions. It is expected that after the hard fork, the overall performance of the blockchain will increase by 5-7%. The update also improved the multi-signature functionality and added critical fixes to the Monero security system.

In addition, view tags have been added to speed up the synchronization of Monero-enabled wallets by 30-40%. These include the Ledger and Trezor hardware wallets, as well as the Cake hot wallet, which was originally built for Monero (XMR) but now supports BTC, LTC, and XHV.

Recall that the development team planned the 15th hard fork of the network back in April. Then it was reported that the update will take place on July 16.

Source: Bits

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