Teased earlier this week, the Monero update promised to make a number of improvements and users of the privacy coin are excited about slashed transaction fees
Monero is a privacy coin which many are excited about, and their recent hard-fork updated the underlying software to implement ‘bulletproofs,’ which are designed not only to increase security but apparently have successfully reduced transaction costs by an order of magnitude.
There has already been a vocal minority, especially among blockchain and crypto insiders, who see Monero as a stand-out model for what crypto can do, with Lucas Nizza claiming to ‘see it as one of the few projects that carries fundamental value in this vast sea of vaporware we call crypto.’
One of Monero’s selling points has always been its privacy- it is designed to be difficult to trace, and allow users to make transactions which cannot be pried into. When Chepicap talked to John Mcafee recently, he picked Monero and similar coins out as the type of technology he is excited for crypto to offer.
This update can only bolster Monero’s reputation, and may attract traders who previously weren’t sold on its focus on privacy but now will be interested in trading a promising cryptocoin which takes a minimal cut.
Monero is now unfairly cheap https://t.co/iVjsYNaV78— Riccardo Spagni (@fluffypony) October 20, 2018
So far XMR, Monero’s token, has been relatively steady in value other than a slight bump up when the dev team made the hard fork announcement, but now that the upgrade, which is called Beryllium Bullet, has been rolled out, the good press is bubbling up, perhaps indicating that Monero is due for a bull run.
Read more: Charlie Lee: I'm interested in Monero