Monero (XMR) announces second audit of Bulletproofs+ Code

The Monero (XMR) development team has announced plans to raise funds for its second audit of Bulletproofs+ Code. The team wants to raise $13,500 worth of XRM for the project through crowdfunding.

According to a March 2 proposal, JP Aumasson has been appointed to executive the review. Monero hopes the new Bulletproofs+Code will help to improve transaction efficiency on the platform.

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The first audit was executed by Zengo X and was concluded last month. The announcement revealed that the second audit is necessary to find out any loophole or weakness and to see whether an improvement will be necessary.

Bulletproofs+ to improve transaction speeds

Bulletproofs+ offers a new way of establishing a zero-day proofing system. It’s not very common for platforms to engage in such a proofing system since it’s a new phenomenon. However, it comes with several benefits, including increasing transaction speeds as well as the time required for the generation of wallets.

Monero has adopted several ring signatures in the past. But the company sees Bulletproofs+ as an improvement on all of them. In the past, the ring signatures make the Monero network slow in node synchronization due to the over-bloated network.

Another benefit of Bulletproofs+ is the confidential nature it gives Monero’s network, giving it an edge over competitors.

Developers have started piling up for more adoption of the code, especially by other privacy-focused networks.