Sirlibz
Monero (XMR), one of the top leading cryptocurrencies recognized for its security and transaction times over 10% with the recent network upgrade it made. The upgrade took place on the 17th of this month where their latest node software called “Oxygen Orion” was released. The Oxygen Orion network upgrade came with a new ring signature construction called the CLSAG, they will help in improving Monero’s transactions time, security and scalability. The CLSAG will approximately reduce Monero’s transaction sizes by 25% and scale transaction verification times on the blockchain by 10%. Other notable improvements are seen in the Dandelion ++, a protocol in the Monero system in charge of hiding users IP addresses.
The upgrade, unlike other major updates will not affect the mining algorithms of Monero due to the fact that the upgrade which had occurred back in October 2019 had come with a RandomX, a protocol that made it possible for upgrades to occur without changing the mining algorithms for ASIC-resistance.
These last upgrade has been marked as the most important improvements in Monero with regards to it’s scalability since the inception of bulletproofs, a protocol that allowed for transactions to be verifiably published to the XMR blockchain without revealing their size in 2018.
Other Developments
Among other things, Monero has been working on Atomic-Swaps which will enable it’s users to quickly and almost instantly exchange for other CryptoCurrency and Vice-Versa. They have also raised the funding required which is about 2727 XMR currently worth $361409.31.
Monero is one of the best privacy coin out there, we can also see Beam, Zcash etc.
