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Monero (XMR/USD) reported on its Twitter account that the network has been successfully updated. There is a new method of proving Bulletproofs, improvements that prevent ASIC crashes and improved privacy features.

With the arrival of the major update on the Monero network, several important changes have appeared. Bulletproofs have come to replace the cryptographic method of evidence Borromean. A new method reduces the size of transaction blocks to less than 1 KB. Bulletproofs allow transactions to be verifiably recorded to the XMR Blockchain without revealing their size. The fee for a typical Monero transaction is now approximately $0.005-0.01.

The number of signatures used to disguise Monero users when sending transactions has been increased from seven to eleven, which will increase the network privacy. In addition, the change in the Proof-of-work prevents from failing in the case of mining on ASICs. Node operators and miners are strongly recommended to upgrade their software, refusing to do so may result in transactions' failure.

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