Privacy coin Monero’s protocol has rolled out new privacy and security features after completing a hard fork.
The hard fork was successfully performed on block 2,688,888 on August 13.
One of the main changes as a result of the fork was the increase in Monero’s ring size. The size was increased from 11 to 16, resulting in greater protection of user privacy. Ring signatures ensure that it is impossible to trace the origin of transactions on the network.
The ‘Bulletproof’ algorithm was upgraded to ‘Bulletproof+’ to boost transaction speeds and reduce transaction sizes by an estimated 5-7%. Other improvements to the multisig mechanism have also been made.
Moreover, the upgrade included ‘view tags’, which aims to reduce wallet sync times by 30% to 40%, along with security patches and fee changes. This feature is the key to improving the overall performance of the whole ecosystem built around Monero (XMR).
The boost in the privacy features of Monero come in light of the recent increased regulatory attention on privacy projects.