Major update in Monero (XMR) ok: What has changed?

Privacy-focused crypto currency Monero (XMR) has completed an important update today. Transaction sizes have been reduced significantly, while transaction times have also been reduced.

Privacy-focused cryptocurrency project Monero left behind an important update today. With this update, a number of major changes have been implemented in Monero.

It can now be said that Monero has better scalability and performance. CLSAG signatures started to be used instead of MLSAG signatures previously used in Monero. With the CLSAG, it was said that the transaction size would decrease from 2.5 kB to 1.9 kB, and the transaction times would increase by 10 percent. Today’s update was Monero’s most important update since 2018. In October 2018, a cryptography method called “bulletproof” was activated and transaction fees were reduced to almost zero.

In addition to the CLSAG, today’s update also includes minor security enhancements and bug fixes.

The US works to break Monero’s privacy

Monero is a cryptocurrency that is under the radar of many government agencies. It is known that Europol, the European police agency, complained that transactions with Monero could not be traced. In a recent report, the agency announced that Monero is increasingly being used in transactions on the dark web. On the other hand, in the past weeks, the American tax office has opened a tender for the development of a tool to track privacy-oriented cryptocurrencies such as IRS and Monero. Crypto money analysis company Chainalysis won the tender. A contract worth 625 thousand dollars was signed with Chainalysis

Monero (XMR) is trading at $ 120 as of 20.45 TSI.