As of 18th of October 2020 the upgrade branded by Monero as Oxygen Orion has finally went live as planned, exactly two months after being first announced by the Core Developers. The upgrade focuses on new technological changes most notably delivering on security and also scalability through achieving lighter and faster transactions on the network.
- The upgrade first announced on 18th of August 2020 has promised on delivering a security upgrade reducing the vectors attackers can use to obtain transaction initiator's IP Address on top of a series of performance improvements through reducing transaction sizes and speeding up verifications on the network.
- The security upgrade comes in form of protocol update branded Dandelion++ (upgraded proposal of the one which was proposed as part of Dandelion for Bitcoin) which effectively hides the IP Address of the person who initiated the transaction.
- The change in Monero's software allowing the majority of new performance improvements is the replacement of the previous solution of generating signatures to obfuscate the transaction's signer and amount. The previous solution MLSAG is effectively being replaced by the new more performant CLSAG
- The performance update is expected to reduce the transaction size by almost 25% whilst also reducing the time taken on verification on the network
- Although the upgrade doesn't ship any changes to the mining algorithm, the miners have to ensure that they upgrade their software to the latest version to keep contributing to the network.
- The upgrade also affects the token holders in that to transact on the network you will need to ensure that you have the latest client version available (e.g. monero-wallet-cli, monero-wallet-gui) or if you use a hardware wallet like Ledger you will need to ensure you have the latest firmware available.
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