Monero Launches Long-awaited Upgrade with a Revolutionary Tech Software

monero launch

October 19, 2020

Reading Time: 2 minutes

The long-awaited update of Monero has finally arrived and the standards are beyond expectation, but for good reasons. The scalability enhancement update of the network that users have long expected was carried out yesterday. The introduction of Monero’s “Oxygen Orion” node software is the greatest change that comes with this update.

The growth and implementation of a ring signature known as CLSAG can be seen in the enhancement of the network.

This function will increase transaction speed by 10%. On the other hand, transaction sizes would be flattened down by a fair 25%. This is a huge transition Monero has taken. They will make sure they achieve making their coin a leading privacy coin in the ever-changing digital industry.

There are also security properties in place such apart from performance and scalability. Monero had previously released a software called Dandelion++ that will be enhanced to tighten security. To complete the process,  there are other bug modifications which will take place.

Monero is striving to become the industry’s most advanced coin. However, the network must resolve the difficulties of the Internal Revenue Service and Law Enforcement Administration and. These two agencies are on their way to breaking into the network’s privacy to “track,” movements of transactions

Shortly after CipherTrace analytics company submitted a “Monero tracing tool,” to the Department of Homeland Security, the IRS was said to be sourcing contractors would pay $1 million just to make sure their company will track Monero and Bitcoin Network transactions.

The Agency for Law Enforcement Cooperation of the European Union, known as Europol, has also attracted criticism from Monero. The organization confirmed that Monero is going to become a dark network favourite, that will be privately used for illicit transactions. The company definitively warned that Monero is quickly becoming an obstacle for scientists.

Despite critic’s sentiment, Monero ‘s users are rising back from Monero ‘s adoption in large numbers. The developers of the network are also strongly focused on adding advanced functionality to further expand the functionality of the network. With the upgrade, Monero users can now conduct faster exchanges of the coins with others using the atomic swap. The plan for this future has now raked in more than $300,000 into its total asset.

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