Monero (XMR) Successfully Executes Hard Fork V15
Monero (XMR) has successfully completed its major upgrade, Hard Fork V15, thanks to the collaborative efforts of 71 developers on the Monero protocol.
Monero (XMR) Successfully Executes Hard Fork V15
As reported by Coin68, Monero underwent a hard fork on August 14 at block 2,688,888, aimed at enhancing security and privacy across the network.
Congratulations on a successful network upgrade! 🎉 #Monero is now more private and efficient with ringsize 16, Bulletproofs+, and view tags!
— Monero (XMR) (@monero) 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 July hard fork, named V15, has increased the number of Ring Signatures per transaction from 11 to 16. Ring Signatures are a cryptographic feature that allows the sender to obscure their identity, making it computationally infeasible to trace which key was used and who created it—a distinguishing feature of Monero.
Additionally, the Bulletproofs algorithm has been upgraded to "Bulletproofs +." This technology upgrade, initially deployed in 2018, ensures that information stored within a confidential transaction remains free from any discrepancies. Bulletproofs + reduces transaction size and speeds up processing, boosting overall performance by 5-7%.
Trezor and Ledger will be among the hardware wallets supporting Monero. Moreover, Cake Wallet, initially exclusive to Monero, will now support Bitcoin (BTC), Litecoin (LTC), and Haven (XHV). The project has also implemented patches to enhance multisig functionality.
Contrary to the initial volatility surrounding the hard fork announcement, XMR's price has remained stable, trading around $165.30 at the time of writing.
1-hour chart of XMR/USDT on Binance as of 08:50 AM, August 15, 2022
