Monero Hard Fork Anticipates Date Due to Growth of Network Hash Rate

Initially planned for September 21st, the Monero (XMR) hard fork will be conducted a little earlier than scheduled.

The hard fork date has been moved to a sooner date due to the growth of the of the Monero network hash rate. At the beginning, programmers considered the possibility of changing the number of blocks to prevent a premature hard fork, but in the end, only the date was changed. The protocol will be updated approximately on September 15-16.

According to the developers, the hard fork is carried out to expand the functions of protecting sensitive user data. In the upcoming hard fork, the mandatory use of the so-called “ring confidential transactions” (RingCT) will be introduced. However, it should be noted that many users of the “over-the-top” anonymous cryptocurrency already use this technology.

For the first time, on January 10, RingCTs began updated versions of old ring signatures. They provide a high level of confidentiality in transactions, eliminating any possibility of viewing details in payments by users who do not take part in them directly.

Currently, Monero has a market capitalization of $1.7 billion, which takes 8th place in the Coinmarketcap rating.


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