The team of Monero developers is making plans to increase the efficiency of the blockchain and privacy features of the token. New reports show that the team is getting closer to including bulletproofs to the Monero protocol. Already, the Monero community has funded and completed three security audits for the bulletproof initiative. The last one to be completed was reported by Coin Crunch and retweeted by the official Monero handle. While the first security audit was completed by Kudelski, Quarks lab & Benedikt Bünz completed the second two. Bünz is a PhD student majored in applied cryptocurrency in Stanford.
What Is The Bulletproof Protocol?
The bulletproof protocol is a zero-knowledge solution that allows users to hide the amount for Monero transactions from the blockchain.
It gives an extra layer of privacy on the public blockchain. This feature doesn’t require a setup and it doesn’t overuse computational power. It hides only the amount for the transaction but the sender and receiver addresses remain visible. This technology is still new and it hasn’t been adopted by many cryptocurrency projects yet.
Monero Price Analysis For August 22
Mainewhile, the price of Monero (XMR) continues to trade in range after the strong bearish pressure pushed it all the way to $92.30 from $120.60 during yesterday’s trading session. The trading started with a bullish 4-hour opening candle that pushed the price from $92.30 to $95.99 which was in supply area. Three bullish solder candles were formed signifying that the bears were strong within range.
Monero (XMR) Price Today – XMR / USD
The price of XMR is ranging between $100.00 and $80.81. This would be a good time to wait for a breakout or breakdown. Selling or buying isn’t the best strategy now because the price of Monero (XMR) is still ranging short-term. The bears pushed the coin around $92.30 yesterday. According to the price analysis by Azeer M on Bitcoin Exchange Guide, the cryptocurrency is consolidating between $99.33 and $88.91.