Privacy protocol Monero is set to undergo a tentative hard fork in July to improve network security and fee changes.
XMR USD down -4.47%, BTC US down -0.04%
A testnet deployment is set for May. No separate coin will be issued after the mainnet hard fork at a block height of 2,668,888, which is set to be finalized in July.
Hard forks refer to the adjustments to a blockchain protocol that makes the older versions invalid.
Monero is a privacy-centric protocol that masks the wallet addresses of users, making it challenging to track transactions.
This contrasts with Bitcoin (BTC) and other cryptocurrencies, whereby wallet addresses and transactional behavior can be monitored to identify their users.
Monero’s fifteenth software version (V15) would see an increase in Monero’s ring size from 11 to 16 while fixing its multiple signature process.
The V15 upgrade would also establish “bulletproof+,” an upgrade to the bulletproof technology launched on Monero in 2018.