Monero [XMR] Beryllium Hard Fork To Guarantee Anonymity And Reduce Transaction Costs

The community of Monero is not new in the field of rigid forks, and developers would have made a hard bifurcation twice a year. The update usually adds new features, which include support for multiple signatures, a larger ring size and performance improvements.

The report says that the most important version of the Beryllium Bullet Hard Fork upgrade is the “Bulletproof” feature, which optimizes the reach test. This is used in Monero for Ring Transactions [RingCT], a privacy function implemented to guarantee the transactional confidentiality of the users because the value of the funds transferred is hidden.

In addition, all transactions with Monero are private. The amount, the sender and the recipient are disguised. The RingCTs are used to hide the actual amount of the transaction, while the null evidence, called the reach test, is used to ensure that a positive amount of Monero is actually used.

In addition, the update allows the entries to match the expenses without determining the actual amount of Monero used in a transaction. In addition, the new mechanism would not allow attackers of special transactions to create new parts, which would lead to uncontrolled inflation.

Another benefit of the bulletproof upgrade is the ability to reduce the storage space of transactions by 80%. In the past, a normal Monero Range Proof transaction was worth approximately 13 kilobytes, almost 53 times the size of a normal Bitcoin transaction.

The new update would allow Monero users to make transactions with lower rates and better scalability in the blockchain. Beryllium Bullet also aims to reduce transaction costs from 20 cents to 30 cents to a few cents per entry with low priority.

The Monero Hard Fork upgrade will also change the working test mechanism, which does not pose a direct threat to ASICS. It is a clear message to the manufacturers of ASIC that the development of the ASIC for Monero is not an economic enterprise and that the Monero project will irreversibly change its “proof of work”.