{"id":255087,"date":"2022-08-15T13:00:34","date_gmt":"2022-08-15T12:00:34","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=255087"},"modified":"2025-12-03T12:42:41","modified_gmt":"2025-12-03T12:42:41","slug":"monero-enhances-privacy-security-features-with-new-upgrade","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/monero-enhances-privacy-security-features-with-new-upgrade\/","title":{"rendered":"Monero enhances privacy, security features with new upgrade"},"content":{"rendered":"<p>Monero (<a href=\"https:\/\/cryptoslate.com\/coins\/monero\/\">XMR<\/a>) completed a hard fork that improved its security and privacy features on August 13.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Congratulations on a successful network upgrade! \ud83c\udf89 <a href=\"https:\/\/twitter.com\/hashtag\/Monero?src=hash&ref_src=twsrc%5Etfw\">#Monero<\/a> is now more private and efficient with ringsize 16, Bulletproofs+, and view tags! <\/p>\n<p>Make sure your node\/wallet is updated to continue using Monero. <\/p>\n<p>Privacy and fungibility matter, and it\u2019s exciting to keep improving!<\/p>\n<p>&mdash; Monero (XMR) (@monero) <a href=\"https:\/\/twitter.com\/monero\/status\/1558525849548251136?ref_src=twsrc%5Etfw\">August 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The hard fork, which has been in the works for four months, was completed on <a href=\"https:\/\/localmonero.co\/blocks\"><span class=\"s4\">block 2,688,888<\/span><\/a>. Over 70 developers worked on the upgrade.<\/p>\n<h2>The upgrade<\/h2>\n<p>According to Monero's <a href=\"https:\/\/web.getmonero.org\/resources\/user-guides\/multisig-messaging-system.html\">website<\/a>, the hard fork fixed the internal multi-signature mechanism on the protocol. It also increased the number of co-signers approving ring signatures from 11 to 16.<\/p>\n<p>A ring signature makes the protocol a popular choice among privacy advocates as it hides the origin of transactions on the network.<\/p>\n<p>Additionally, the network upgraded its bulletproof security algorithm to bulletproof+. The improvement will further reinforce privacy in the protocol.<\/p>\n<h2>Regulators targeting crypto privacy protocols<\/h2>\n<p>The Monero upgrade comes when privacy protocols like Tornado Cash are <a href=\"https:\/\/cryptoslate.com\/tornado-cash-contributor-reveals-dao-shut-down-as-it-cant-fight-the-us-need-to-keep-contributors-safe\/\">under fire<\/a> from regulators.<\/p>\n<p>The United States <a href=\"https:\/\/cryptoslate.com\/us-vows-to-aggressively-pursue-crypto-mixers-following-tornado-cash-sanctions\/\">sanctioned<\/a> Tornado Cash over its use by criminals, and its developer was <a href=\"https:\/\/cryptoslate.com\/netherland-arrests-suspected-tornado-cash-developer\/\">arrested<\/a> in the Netherlands.<\/p>\n<p>But this does not appear to faze the Monero community, who have remained focused on enhancing the protocol's privacy and security features.<\/p>\n<p>The blockchain network has recorded 15 updates since its launch to make it more secure and private.<\/p>\n<p>Justin Berman, a software developer working on the protocol, said he would not go &#8220;anonymous to do something completely normal.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I work on <a href=\"https:\/\/twitter.com\/monero?ref_src=twsrc%5Etfw\">@monero<\/a> to help make money that&#39;s easy to use without revealing your net worth + salary + entire spending history to the world when you use it.<\/p>\n<p>Completely normal thing.<\/p>\n<p>I&#39;m not going anonymous to do something completely normal.<\/p>\n<p>&mdash; Justin Berman (@justinberman95) <a href=\"https:\/\/twitter.com\/justinberman95\/status\/1559045659168501760?ref_src=twsrc%5Etfw\">August 15, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Meanwhile, there is a <a href=\"https:\/\/www.forbes.com\/sites\/kellyphillipserb\/2020\/09\/14\/irs-will-pay-up-to-625000-if-you-can-crack-monero-other-privacy-coins\/amp\/\">$625,000 bounty<\/a> by the\u00a0United States Internal Revenue Service (IRS) for whoever can crack the Monero code.<\/p>\n<h2>Monero is double-edged<\/h2>\n<p>While the protocol has enjoyed much acclaim from privacy enthusiasts and human rights activists, malicious players have also taken advantage of its features for their benefit.<\/p>\n<p>According to <a href=\"https:\/\/www.monerooutreach.org\/quick-facts.html\">Monero outreach<\/a>, the protocol primarily benefits people under oppressive regimes or countries with weak economies.<\/p>\n<p>Experts like Johnie Cosmos have also <a href=\"https:\/\/johnniecosmos.medium.com\/the-case-for-monero-being-used-as-cash-58d2f7be0287\">identified<\/a> that the token could be the best candidate for an electronic peer-to-peer electronic cash system because of its privacy features.<\/p>\n<p>However, its XMR token is also one of the most popular cryptocurrencies among <a href=\"https:\/\/cryptoslate.com\/security-report-finds-monero-xmr-leads-in-cryptojacking-exploits\/\">cryptojackers<\/a> who hijack the computing resources of unsuspecting users to mine crypto.<\/p>\n<p>It is also popular among ransomware groups that demand <a href=\"https:\/\/cryptoslate.com\/report-crypto-ransomware-payments-in-2021-was-over-600-million\/\">crypto ransom payments<\/a>.<\/p>\n<p>As of press time, XMR is exchanging hands for $164.72 after dropping by over 2% in the last 24 hours.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Monero (XMR) completed a hard fork that improved its security and privacy features on August 13. Congratulations on a successful network upgrade! \ud83c\udf89 #Monero is now more private and efficient with ringsize 16, Bulletproofs+, and view tags! Make sure your node\/wallet is updated to continue using Monero. Privacy and fungibility matter, and it\u2019s exciting to [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":255139,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[61045],"tags":[77044],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Monero enhances privacy, security features with new upgrade<\/title>\n<meta name=\"description\" content=\"Monero said it has completed a new upgrade that has made the network more private and secure for its users.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/monero-enhances-privacy-security-features-with-new-upgrade\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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