Monero completed its hard fork for a network upgrade on Saturday in an attempt to add more privacy to transactions on the protocol.
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Fast facts
- Monero Sunday said that the network is “now more private and efficient with ringsize 16, Bulletproofs+, and view tags.”
- The protocol said in a blog post in April that the new “Bulletproofs+” algorithm can reduce typical transaction size and improve verification performance by 5% to 7%.
- View tags are Monero’s new approach to reducing wallet sync times by 30% to 40%.
- Privacy protocols like Monero issue privacy coins that offer crypto traders the ability to hide the provenance of transactions as well as the identities of senders and receivers.
- XMR, Monero’s native token and the 28th-largest cryptocurrency by market capitalization, was up 0.1% in the past 24 hours at US$167.21 at 2.11 p.m. HKT, according to data from CoinMarketCap. The token was at US$132.6 about a month ago.
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