Bitcoin, Crypto currency, Blockchain

Monero: Update is coming on the 18th. October

Monero has for Thursday, 18. October, the next Update for the System announced. The Update will usher in the semi-annual Hard Fork of the Monero block Chain, and some new features. Among other things, bullet proofs, and the Ring-expanded size. An Overview.

Monero, the most important and with the highest market capitalization-equipped Privacy Coin, determines logically a special focus on privacy and security. This includes not only the Disguise of the transmitter and the receiver in the case of transactions that the System renews itself constantly. Therefore, a Hard Fork is after six months in the Monero-cycle anchored, the technical innovations.

In the course of the Hard Fork, which is pending for this month will be on 18. October a Protocol Upgrade. How Monero via Reddit announced, users, service providers, miners and Exchanges on the versions of the CLI v0.13.0.0 or GUI v0.13.0.0 screws. The network will, therefore, more efficient, and by a change of the Proof-of-Work algorithm ASIC resistant.

Bullet proofs and larger rings

The planned network Upgrade introduces some new features. First and foremost, a new Form of Range Proof, bullet proof. These replace the old Borromean Range Proofs, and reduce the transaction size, and thus the fees. About 80 percent of the transaction size.

A PoW-Tweak comes to any potential threat to curb by ASICs and to get the ASIC-resistance. Accordingly, the Miner also need to update your Mining Software. Finally, the minimum Ring size is increased to eleven. Therefore, the pool operator must ensure that the payouts use a ring size of eleven, otherwise they will be rejected by the network.

The course will be happy about it

These innovations will help to make the crypto-currency XMR to a broader Community. To emphasize the Privacy aspect of Moneros while improving transaction conditions. Reason enough for joy for the Monero Community. The upward movement that had taken the Monero-rate in anticipation of the Hard Fork in September, could continue to do so.

Those who want to know more about the Privacy Coin is Monero, which is also the current issue of crypto-compass to heart. There Monero stands as the “Altcoin of the month”, especially in the focus.

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