Monero, one of the most significant privacy protocols in the ecosystem, implemented a protocol update on August 13 to enhance several privacy and security features provided by the network.
The hard fork was successfully executed on block 2,688,888, thanks to the combined efforts of more than 70 developers, nearly four months since it was announced.
“Multisig means that a transaction needs multiple signatures before it can be submitted to the Monero network and executed.
Ring signatures make it impossible to detect the origin of network transactions, a feature that has helped Monero become the most popular cryptocurrency among privacy advocates.
This is absolutely necessary in order to enhance the overall performance of the Monero (XMR) ecosystem in its entirety.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by TokenAround.