Back in December 2017, Monero announced that they would be implementing their Bulletproof Protocol in two stages. The protocol was to retain all existing privacy and security features while shrinking down transaction sizes significantly. Additionally, it would provide an avenue for sustainable and efficient scaling.
Recently Monero shared their latest major release of v0.13.0 of the Monero software named “The Beryllium Bullet” which has enabled Bulletproofs to make transactions on the Monero platform nearly 97% cheaper. While there were some crucial fixes
Although significant, the BulletProof update showed little improvement towards the value of XMR and saw only a $4.00 maximum increase in value after the news broke of the update.
In the long term, Monero looks like they have taken a meaningful step in the development of their platform. This may set them apart in the future of crypto as the market continues to undergo constant change and evolution. With such a massive step forward, Monero may very well be clearing a path for other networks to follow.
Will the BulletProof update spark a rally for the value of XRM? Only time will tell. As other networks fall behind, we may see Monero start to climb the charts leaving behind competitors.
Also published on Medium.