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Big Changes Are Coming To Monero In the Following Hard Fork

It is quite noticeable that the Monero project is going through a lot of upgrades and hard forks in a quick sequence of events. Despite a fork being introduced just recently, the next big upgrade is already right around the corner. This marks a major milestone for Monero as they will finally introduce “Bulletproofs.”
Several aspects should be taken into consideration for an upcoming fork. In the case of Monero’s Beryllium Bullet upgrade, there will be a major emphasis on making sure that the network remains ASIC-resistant. This decision is deemed interesting by some because some concerns still remains over Bitmain’s role in the fairly recent network hashrate spike of 2017.
Ever since that time, Monero has already undertaken a subtle change to its proof-of-work algorithm. This new hard fork will change the PoW aspect again. This would keep ASICs far away from the network, though it seems unlikely it will make cryptojacking unpopular all of a sudden. Even so, this can present interesting modifications, especially because of this nonstop approach to fight ASIC domination at all times.
One of the major reasons as to why plenty of people prefer Monero is due to the project’s emphasis on privacy and anonymity. By itself, any improvement to either of these aspects will be of great value to the user base.
In this hard fork, a static ring size will be presented. This allows for better anonymity since a higher ring size utilizes more transmitters for every transaction. Through the years, Monero has seen some major improvements in this department. The static ring size initially started at five, and had increased to seven just recently.
The new upgrade will boost the limit to 11, though users still have the choice to modify this figure to a higher value should they need to. This approach solidifies the assumptions that the developers want to reach the peak of anonymity through slow-and-steady approach.
One of the biggest upgrades to come to Monero in recent times would be Bulletproofs. This concept has been introduced to the public a while back, as it will enable smaller transaction sizes and overall less blockchain bloat. By actively decreasing the transaction size by up to 80% the average XMR transaction will be 2.3 kilobytes.
For those who like to compare transaction size, Monero will still be a lot larger than Bitcoin’s. this is an ongoing process of further reducing XMR’s transaction footprint, although Bulletproofs is a big step forward. Smaller sizes cause lower transaction fees and better scaling. It offers one of the biggest changes Monero has seen in recent time, although there is still room for improvement.

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