The Monero developers, first announced in September, have released an online update with a new version of the node software, codenamed “Oxygen Orion”. Created by 30 contributors, this update promises significant improvements in almost every aspect of the performance of a privacy-focused cryptocurrency.
The highlight of the new update is the built-in automatic anonymous groups feature (CLSAG). According to Monero Blogg, CLSAG will reduce transaction volume by 25% and improve transaction time by 10%, while preserving transaction privacy.
The developers wrote:
“CLSAG enables smaller and faster transactions with strong security.”
In addition to CLSAG, the new update improves network security, especially with respect to Dandelion ++, which is responsible for hiding users’ IP addresses.
Technically, Monero updates are a solid fork, so network members need to make sure the software is up to date. Users who store XMR in their hardware portfolio should continually update their firmware, as the blog notes.
This latest update comes amid unconfirmed expectations for cryptocurrencies due to pressure on several fronts.
In September, the US Internal Revenue Service (IRS) will offer a reward of up to $ 625,000 to anyone who can compromise Monero’s privacy. In addition, the Department of Homeland Security said it has acquired software that can track Monero transactions, although some researchers question the accuracy of these claims.
Meanwhile, the rival cryptocurrency Zcash is close to halving in November this year, which some analysts believe will lead to bullish behavior in the price of the competing asset.
Despite these obstacles, positive sentiment for XMR on social media has increased by almost 4% in the last week, according to analyzes provided by TheTIE.