The maniac race to be the best privacy oriented Cryptocurrency in the space which is rolling for Monero has now brought greatness for the alctoin as it recently implemented a high esteem technology that is designed to enhance the scalability of blockchain privacy.
After the implementation of the Bulletproofs named technology which was created by Benedict Bunz and Jonathan Bootle, it has been revealed that Monero’s sophistication in terms of blockchain size and tax cost has been heightened for better.
Just as expected to lessen the weight of confidential transactions and cost, it was been reckoned by a crypto analyst that ever since the introduction of the bulletproofs technology, Monero’s (XMR) confidential transaction has been dropped by over 80% and its tax cost plummeted by 96%.
Another crypto asset analyst on twitter said after the bulletproof update, the average transaction of the altcoin has moved from a pre-fork value of 18.5kb to 3kb, while the average fee was recorded to have plummeted from 60 cents to 2 cents.
As lovers of the Cryptocurrency continues to display excitement at the development, a twitterati said with Monero (XMR), privacy, fast, and cheap transaction is guaranteed. He added that Monero blockchain network is not dominated by Bitmain.
Monero (XMR) And The Bulletproof Technology
After one year of focus on the implementation of bulletproofs technology, Monero (XMR) finally became the first principal cryptocurrency to deploy the technology.
Staying steps ahead its contemporaries in confidential transaction, Monero blockchain technology deployed the bulletproofs technology to replace its existing zero-knowledge range proofs which its privacy transaction relies on.
Monero (XMR) Price Analysis In The Market Today
Ranked 10th in the market according to Coinranking, Monero (XMR) is currently valued $105.57 as the altcoin remains among the gainers in the market, topping it price by 1.16% in the last 24 hours of the market.
Starting from the early hours of the Asian trading session today, trade pair XMR/USD has been on an upside trend. After a low price of $103.20, the trade pair, while on the rising wedge against the resistance level attained its highest price today, $106.43, before buoying its present value.