Privacy coin Monero has announced they will be implementing a new technology called “bulletproofs” intended to create more blockchain privacy features and scalability.
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“Blockchain bloat was definitely an issue for Monero,” said Sarang Noether, a Monero cryptographer.
Created by cryptographers Jonathan Bootle and Benedict Bunz, “bulletproofs” promise to significantly decrease confidential transaction size.
Monero has been focused on implementing bulletproofs for the past year in an effort to decrease private transaction size by at least 80 percent.
“We’re excited about it,” Sarang continued.
“Part of the reason we do the upgrades is so we can be safely on the cutting edge, and I think this is a really, really good move forward.”
Bulletproofs will replace Monero’s current zero-knowledge range proofs for private transactions.
“It does the same thing, this nice, black box, zero-knowledge proof idea, but is much, much, much smaller and much, much, much faster to do,” said Sarang.
“Bulletproofs was this cool example of something that was a nice self-contained entity that we were able to deploy in a way that is working great.”