Commissions for transactions in the network Monero dropped sharply to zero after a system update last Thursday.
The decrease in transaction commissions occurred after the activation of protective Protocol “Bulletproofs” the network Monero known for its high level of privacy. Technology, on the basis of which the Protocol was developed by experts in cryptography from Stanford University and University College London. The principle of confirmation of the transaction in the new Protocol makes the protection of privacy in Monero network more scalable.
According to data published on the resource BitInfoCharts, the average Commission on Thursday began to fall from $0,54 and Sunday stood at $0,021. Thus, the Commission decreased by 96%.
Along with the activation of the Protocol “Bulletproofs” during hard forks Monero has been also implemented an algorithm preventing the manufacturers to create specialized equipment for mining eponymous cryptocurrency monero (XMR).
As told Saran, Noether (Sarang Noether), the developer of Monero Research Lab, who led the work on the Protocol “Bulletproofs” the team hopes to see the result of update network graphs of the growth of the blockchain. The media also suggested that by reducing transactional commissions cryptocurrency XMR will have more owners. One of the main developers of Monero added that the purpose of the update was to make the idea of micropayments more attractive.
The decision to implement the network Protocol “Bulletproof” Monero Research Lab announced December 2017. This summer, the development has passed the test of experts at cyber security company Kudelski Security.