Monero hard fork completed successfully

The organizers of Monero announced a successful update of the cryptocurrency protocol to version 0.13.0, called the beryllium bullet. Hardfork has increased the confidentiality of transactions, reduced their volume, commission and changed the PoW algorithm to combat Bitmain ASICs.

Adding unique bulletproofs feature allows you to hide the amount of XMR coins sent in transactions. The effect is achieved due to complex mathematical algorithms when checking them. The update also reduced the average transaction size from 13.2 KB to 2.5 KB. This is almost an eighty percent decrease in volume, which leads to an 80% decrease in commission..

The savings in digital space have led to a sharp drop in network complexity, faster block closings and an increase in mining efficiency. The blockchain registry now also takes up much less meta on the hard drive.

Monero hard fork completed successfully

After Bitmain released a dedicated ASIC, the Monero team officially declared war on industrial mining equipment. They decided to change the algorithm every six months, and in beryllium bullet they updated PoW to version CNv2. The organizers refuse to transfer power over the project to the hands of large farms, as happened with Bitcoin. They want every user to be able to mine with their CPU and GPU, rather than enriching the manufacturers.

While foreign developers are striving to develop the cryptoindustry, Russian industrialists decided to slow down promoting three bills on cryptocurrency, proposing to completely change their concept.

text: Ivan Malichenko, photo: cryptofeedspot, ccn

Monero hard fork completed successfully

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