Another privacy coin milestone: Monero (XMR) releases new software, the latest one prior to the hardfork
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Monero (XMR), the most popular privacy coin, has announced that the new version of its GUI software, “Oxygen Orion,” is released. It is the last software update prior to the crucial Monero (XMR) network update in October.
Monero (XMR) users should update their software to the new version
Yesterday, Oct. 5, Monero (XMR) contributor Seth Simmons reiterated that all Monero (XMR) node operators should update their software before Oct. 17. Thus, Oxygen Orion is the special build that is necessary for the upcoming network upgrade.
Make sure to update your GUI and any nodes you’re running before 10/17!
Almost time for faster, lighter private transactions ? https://t.co/yjWmykAQbD
— Seth Simmons (@sethisimmons) October 5, 2020
According to Mr. Simmons, with this software post-hardfork, Monero (XMR) will enable “faster, lighter” private transactions for its users.
The new release, Oxygen Orion v0.17.0.1, is now available in GUI, while CLI (command-line interface) files were uploaded one week ago. It includes numerous improvements in terms of security and reliability for all components of Monero (XMR) node software.
Monero (XMR) devs upgraded support for Socks5-type proxy instruments, rescheduled simple-mode transactions. Also, the portable mode and transaction history are advanced. Finally, Docker-based cross-compilation support is added for Windows users.
Monero (XMR) hardfork arrives while interest in privacy coins spikes
As covered by CryptoComes previously, Monero’s (XMR) hardfork is scheduled for Oct. 17. It will introduce a new ring signature scheme CLSAG to significantly increase the speed of transactions with no trade-offs in security. Monero (XMR) activists ensure that the total amount of the transactional data size will drop 25 percent.
Although the update will not affect the proof of work (PoW) consensus and the RandomX mining algorithm, it will advance the security and anonymity of transactions.
Adoption of privacy coins is on fire in Q4, 2020. For instance, both shielded ZCash (ZEC) and Monero (XMR) transaction counts printed new all-time highs on the 24-hour timeframe. Also, Litecoin (LTC) blockchain has launched the testnet for its MimbleWimble protocol that obfuscates transactions by default.
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Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.
Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)