Monroe (XMR), a privacy-based digital currency that emerged in 2014, announced that it successfully upgraded a protocol on 9 March 2019.
The HardFork process aims to improve the core properties of Monroe
Monroe (XMR) seeks to differentiate itself from other digital currencies by focusing on privacy and security. In order to improve these features, the Monroe team completed a network upgrade – including about a million updates.
Specifically, Monroe underwent a HardFork operation in the 1788,000 block to improve its privacy, security, and ASIC resistance by introducing four major changes to the network. Monroe identified these changes as follows:
First, some changes to the dynamic cluster size algorithm to fix the Big Bang attack.
Second, a third correction on PoW’s working proof algorithm to reduce existing ASICs on the network and continue to maintain ASIC resistance. As a result, the miners will have to modernize their equipment (ie mining programs).
Third, the pseudo-encrypted payment ID is now added to each transaction to improve transaction homogeneity.
Fourthly, the development team simplified commitments by reducing the size of software commands and using deterministic masks. These changes were considered safe for application by Monroe Laboratories. In addition, the changes essentially require a transaction format that is upgraded to v2 format.
At the end of Operation Hardfork, Muniro told his employees that within the next 24-48 hours, the mass production process should be expected to be slow.
Monroe focuses on user privacy
The integrated privacy protection in Monroe makes it ideal for users who want to make payments anonymously. Furthermore, Monroe claims that its transactions can not be traced. According to the Monroe website:
“Sending and receiving addresses in addition to anonymous amounts are encrypted. Transactions on Plucheen Monroe can not be linked to a specific user or identity “
For example, cannabis buyers may prefer payment in Monroe, given that cannabis is legal in Canada, but it is illegal in most jurisdictions outside of Canada. Many see Monroe as the most convenient currency to buy cannabis in Canada.