Bulletproofs is an advanced technology that makes each blockchain more scalable and efficient. Today, Monero will set the record for the first channel chain to implement the Bulletproofs protocol. The bulletproof protocol invented by Jonathan Bootle and Benedict Bunz aims to lighten the weight of confidential transactions. Monero has been developing this technology for more than a year. The idea is to reduce the size of confidential transactions up to 80%. The bulletproof protocol will solve one of the main problems of blockchains, namely the problem of scalability.
Levels of data protection and Monero scalability.
As you probably already know, Monero is the most privacy-friendly blockchain in the world. However, additional layers of security also complicate computing and storage. The billion-dollar chain has had to deal with scalability, which has resulted in high transaction costs and high storage costs. Sarang Noether, one of the cryptographers working on the integration of the Bulletproofs protocol, said:
“Monero has always been dealing with Blockchain Bloat because of its scalability, and one of the reasons we’re doing these updates every six months is to make sure we’re up to date, and I think that’s it. really exciting. “
The bulletproof protocol will replace the evidence of confidential transactions without any existing knowledge. Anyone can upgrade to the new system after the next global update, which requires the introduction of new software.
In addition to maximum scalability, Sarang said that Monero’s research laboratory is also working on payment channels, nuclear exchanges between channels and many other aspects of development. One of the topics on which the laboratory works is what Sarang calls the mitigation horizon. According to him, building on innovation is one thing, but taking everyone with you is another. The bottom line is that Monero’s bulletproof protocol will change everything now and in the future