Monero transactions are about to get 80% cheaper and faster.

Monero (XMR) is a shining example of the power of open source community development.

It was the first coin to take privacy seriously, using ring signatures and triangulation to make transactions truly anonymous.

The true anonymity that Monero provides has seen it adopted as the de facto cryptocurrency for darknet marketplaces, and also people seeking to escape authoritarian governments.

It's a welcome breath of fresh air in a world where our every move online is monitored and recorded.

What's even more powerful than the tech is the way the project operates. Completely decentralized, Monero was created through the hard working of individual developers from around the world who value collaboration.

Whether you visit the reddit, stack exchange or telegram channel, there's a sense of being welcome. It's a friendly atmosphere thats hard to find in the crypto space, with "my coin's better than your coin" maximalism being the norm.

You need only visit the project's web page and open one of the Meeting Logs to get a sense of the communal atmosphere that drove development forward.

The Monero user experience is about to get a whole lot better.

Currently, the privacy that Monero provides requires a larger transaction size than other cryptocurrencies, at around 13.2kB.

That's set to reduce by 80% with the implementation of something called Bulletproofs, which are now live on testnet.

This change will speed up the whole network, from individual transactions to the amount of space needed to store the whole blockchain. (The entire blockhain must be loaded to use the network)

Most importantly, this update will also translate to an 80% reduction in fees.

With this change Monero continues to show the effectiveness of colalborative community development.

Stay up to date with all things Monero here.


Comments


[37 Points] oiLLLie:

im gunna start using monero. I think we all should be.

new to dnms. but been readin for like a week straight.

monero all the way.


[29 Points] JustAnotherDrugUser:

I've been on the Monero train for a long fucking time. I'm just waiting for some kind of adoption through the markets and vendors.


[16 Points] sadcuzz:

Transaction speed will be the same since the block time will be the same, only the transactions will cost 80% less


[15 Points] ex-ALT:

No reason to use anything else on dnm imo.


[15 Points] dieyoung:

I don't use dnms but I larp in here... Blows me away that some of you guys are still using BTC and talk about opsec smh


[8 Points] BlissInMyReality:

Do you think this will spike up monero at all?


[7 Points] RandomNumsandLetters:

I wish all markets had monero. I don't think it's ready till it has multisig though


[6 Points] None:

Awesome! :)


[4 Points] smokeythebandit12:

I'm going to definitely invest soon.


[4 Points] Neurotia:

Still not easy to obtain though.


[3 Points] Al1ce1nunderland:

When will Kovri be implemented?


[3 Points] CKombobreaker:

Help get me into pro pump n dumps guise


[2 Points] YtonyBlare:

Am invested in Monero and Spectrecoin. Now planning to go all into Spectrecoin because it is serious competitor in terms of tech. Sure Monero is good but it ain't gonna give 10x/100x returns while Spectrecoin could.


[1 Points] Febos:

Actually it will not be any faster, just block chain will grow 80% slower. So if you use full node you will sync 80% faster. But transaction it self will still take 2 minutes to first confirmation and 10 minutes for 5 confirmations.


[-10 Points] ImaPutAPickleInYoAss:

Fuck Monero, until there's an easy way to obtain it that doesn't involve trading other cryptos. Honestly what's the point.


[-28 Points] positive-change:

Username (Moneroshill22) says it all.

For me Monero is dead since whales and evil guys like Rpietila bough the coin at the bottom long time ago and since then continuosly pumping it. I'm aware that wealth distribution is a normal thing yada yada but with this one my knowledge made a psychological barrier and cannot jump through it. But I'm happy if you guys are happy so good luck using it.