Monero (XMR) is 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.
Congratulations on a successful network upgrade! 🎉 #Monero is now more private and efficient with ringsize 16, Bulletproofs+, and view tags!
August 13, 2022
Make sure your node/wallet is updated to continue using Monero.
Privacy and fungibility matter, and it’s exciting to keep improving!
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
Also, the upgrade implemented the ‘View Tags’ mechanism to speed up the synchronization of software and hardware cryptocurrency wallets that support Monero (XMR). Minor changes series was implemented to reduce fees volatility and improve security mechanisms.
With the latest upgrade, Monero (XMR) supports multi-signature instruments. This results in better network usability for a number of B2B and B2C use-cases.
Such a crucial update didn't result in immediate price rally, XMR crypto changes hands at $165.81 being 2 percent down in 24 hours.
Monero (XMR) APIs by GetBlock: Go-to solution for bots, wallets and exchanges
Despite savage regulatory pressure, GetBlock is one of the largest Blockchain-as-a-Service platforms to support operations with Monero (XMR) nodes. Our services include dedicated XMR nodes and shared nodes for Monero (XMR).
To integrate Monero nodes’ endpoints today just log in to your GetBlock account and choose our shared or dedicated nodes solution. Should you need custom settings, please, reach out to our customer care team.
