Monero (XMR) nodes’ upgrade is now live: Why is this important?

Monero (XMR) Nodes Activated Most Crucial Hardfork of 2022

By GetBlock | GetBlock | 17 Aug 2022

Monero is actually the most popular ‘privacy coin’; its transactions are untraceable and therefore are invisible for watchdogs or malefactors.

Monero (XMR) nodes’ upgrade is now live: Why is this important?

According to the official statement shared by all community-managed Monero (XMR) accounts, its blockchain was successfully hardforked.

The hardfork was activated at block 2,688,888 that was mined on August 13, 2022. First and foremost, the upgrade implemented a novel ring signatures scheme: instead of 11 users, it is now verified by 16 users.

Then, its high-secure Bulletproofs mechanism was replaced by Bulletproof+ scheme. This update significantly reduced the volume of proofs and therefore increased the computational volume and resource-efficiency of Monero (XMR). Net transaction performance sees 3-4% increase.

Monero (XMR) wallets see its speed up by 30-40 per cent

Resources

https://getblock.io/blog/monero-nodes-activated-most-crucial-hardork-of-2022/

Monero (XMR) hardfork blockchain development Blockchain nodes Monero blockchain

How do you rate this article?

GetBlock

GetBlock is a premium RPC node provider and Web3 infrastructure platform that connects dApps to 75+ blockchains.

GetBlock

GetBlock is a premium RPC node provider and Web3 infrastructure platform. Launched in Q4 2019, GetBlock is one of the largest blockchain infrastructure vendors, offering RPC nodes for 75+ blockchain networks including Solana, Ethereum, Bitcoin, Polygon, BNB Smart Chain, and Layer 2 networks such as Base, Optimism, and Arbitrum. With GetBlock, teams of crypto applications don’t need to run their own blockchain nodes: instead, they can get connected to blockchains via ready-made API endpoints.