Monero BulletProof — Transactions Now Cheaper By 97%

Back in December 2017, Monero announced that they would be implementing their Bulletproof Protocol in two stages which promised to retain all existing privacy and security features while shrinking down transaction sizes significantly and providing an avenue for sustained and efficient scaling.

Since that time two separate audits were done on Monero’s Bulletproof Protocol, the first being done by Kudelski Security back in July 2018 and the second by QuarksLab in January 2018.

Recently Monero shared their latest major release of v0.13.0 of the Monero software named “The Beryllium Bullet” which has enabled Bulletproofs to make transactions on the Monero platform nearly 97% cheaper. While there were some crucial fixes needed Monero has since patched their documented vulnerabilities, most significantly stopping the threat of a 51% attack on their network through remote nodes.

Although significant, the BulletProof update showed little improvement towards the value of XMR and saw only a $4.00 maximum increase in value after the news broke of the update according to CoinMarketCap.

In the long term, Monero looks like they have taken a meaningful step in the development of their platform that might set them apart in the future as the crypto market continues to undergo constant change and evolution. With such a massive step forward Monero may very well be clearing a path for other networks to follow.

Will the BulletProof update spark rally for the value of XRM? Only time will tell. As other networks fall behind the curve Monero has set we may very well see Monero start to climb the charts past its competitors.