October 18 is the scheduled date for the Monero network upgrade. On that date, all Monero users will have to upgrade to the v.0.13.0.0 version according to the reports on the official Monero website. With the new update, a hard fork will be added to the Monero blockchain and the price of XMR is expected to get a huge spike. The new hard fork will help to improve the Monero network efficiency because it will adjust the Proof of Work algorithm making the ASIC more resistant than it has ever been.
Monero (XMR) Price Today – XMR / USD
The upgrade will also include the Bulletproofs protocol that helps in compressing transaction sizes thus reducing transaction fees. It will include a concept that will help verify transaction amounts that fall within a specific range while concealing the value. There are single and multiple output Bulletproofs. This upgrade will make the platform more competitive within the blockchain industry while still providing security and privacy. It will reduce transaction size 80%.
The upgrade will be combining two hard forks on one platform one will be released on October 18 while the other will be released on October 19. The upgrade comes with an increase in the minimum ring size do 11 in a bid to protect the privacy of Monero. Pool operators that don’t have the standard ring sizes will not be supported. These upgrades will make Monero the number one option for making secure transactions.
IOTA (MIOTA) Gets Added To Bitpanda
Main while, elsewhere in the cryptocurrency industry, IOTA (MIOTA) is trending. This is because one of the known cryptocurrency trading exchanges in the industry, Bitpanda has announced that it now accepts deposits and withdrawals for IOTA (MIOTA). While IOTA was added to Bitpanda’s portfolio in June, it was only available as an inner wallet. Now, users can withdraw and deposit IOTA (MIOTA) at will. The announcement was made on the official blog of Bitpanda. It was as follows:
“We are happy to announce that deposits, withdrawals and IOTA Hub are now fully supported on Bitpanda.”
IOTA (MIOTA) Price Today – MIOTA / USD
In response to the news, IOTA Hub posted:
“Working with Bitpanda has been our pleasure. The team is professional and fast. They were able to organize the integration of IOTA Hub within record time and with little support from our team. This also shows that the IOTA Hub is easy to use.”
The listing is expected to bring an increase in adoption for IOTA and the IOTA Hub.