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On October 18 the will be a major update of the Monero network. All information about the protocol updating and major changes is posted on Reddit.

The blog that set out a formal stance on ASIC resistance and the intention to maintain ASIC resistance can be found here.

Several significant changes are planned. First, a new method of cryptographic proof of transactions called Bulletproofs instead of Borromean. The new method will reduce the size of the transaction block to less than 1 KB, as a result, transaction fees will decrease.

Further, a Proof-of-work tweak will make Monero (XMR/USD) more resilient to mining at ASICs. At the moment, Monero is not possible to mine on ASICs. Miners will need to upgrade their software. In order to successfully upgrade to the new version of the protocol, a user, service, merchant, pool operator, or exchange should run CLI v0.13.0.2 or GUI v0.13.0.0. The minimum ring size will increase to 11. The ring signature will allow Monero to conduct private transactions, as well as many other operations.

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