The upgrade to privacy coin Monero’s protocol, a collaborative effort involving 71 developers, has been successfully implemented.
- The number of signers for a ring signature has been increased from 11 to 16 for every transaction. Ring signatures are digital signatures that can be produced by any member in a group. It should be computationally infeasible to determine which key (from that group of keys) was used to create the signature. Ring signatures make it impossible to trace the origin of a Monero transaction.
- The previous Bulletproofs algorithm was upgraded to “Bulletproofs+.” Bulletproofs are zero-knowledge proofs that enable confidential transactions. Bulletproofs+ reduces transaction size and increases transaction speed. Overall performance is expected to improve by 5-7%.
- Fee changes will minimize fee volatility and improve overall network security.
- Multisignature functionality has been improved and critical security patches were added.