Hi HIVIANs,
on August 13th 2022 at block 2,688,888, the Monero network successfully upgraded its network to v15 which is called Fluorine Fermi.
But what has changed?
Ring size increase from 11 to 16
This feature is strengthening the privacy of Monero even more! You can find out more about ring signatures here.
Fixes and improvements to the multisig mechanism
Multi signature is a great and important way to increase the security of the assets you are holding!
Addition of view tags
This cut the wallet synchronization times by 30-40%! This wallet scanning process is neccessary to generate the output public key for its anonymous transactions.
Bulletproof+ implementation
This is an upgrade to the bulletproof technology deployed on Monero in 2018 which ensures that information stored within a confidential transaction does not contain false information.
Bulletproof+ is a zero-knowledge-proof ("ZKP") and replaces the existing Bulletproofs which is expected to reduce transaction sizes by 5%.
Introduction of Tails Emission
This is done to provide a perpetual incentive to validating nodes. It's designed to ensure that a dynamic block size and fee market can develop by implementing a fixed fee of 0.6 XMR instead of allowing the block subsidy to go to zero to reduce the transaction fees' dependency.
Dynamic block size adjustments
This is done to reduce transaction costs and avoid inbalance in the network.
If you want to find out more about this network upgrade, make sure to check out this blog post or this githube page.
Feel free to ask me questions about Monero that you have in mind and I will try to do my best to clarify them!
Did you also hear about Monero's P2Pool? It's helping the Monero (PoW) network to get even more decentralized!
Have a nice day
Peace
XCHNG
