Monero (XMR) expressed their excitement over how the first CLSAG transaction was recently performed on testnet! It is worthy to recollect that in the past, Monero announced the successful audit (by OSTIF, JP Aumasson, and Antony Vennard) of CLSAG, which is set to go live on mainnet in October! Also stated, CLSAG will further reduce transaction size by ~25% as well as improve verification performance by ~20%!
Monero have been working on a lot of cool stuff lately. One of the members expressed their feelings by stating,Monero’s constant formal research and implementation of improvements, plus the transparency, commitment, and synergy of the community, make it a really interesting project to follow and learn from.
For those who do not know, CLSAG is a drop-in replacement to MLSAG to improve on their efficiency. They have made use of some simple but clever mathematics. The CLSAG signatures, reportedly, achieve similar functionality like MLSAG signatures; however, at a much smaller size. With optimizations of cryptography, Monero software will now be able to verify CLSAG signatures very quickly. The security is also improved.
Getmonero have stated that, “compared to the current ring signature construction used in the Monero protocol, CLSAG signatures are smaller and faster than before, with rigorous security.”
The network upgrade which is due in October 2020 will deploy CLSAG signatures as a mandatory consensus requirement. Those who stay upgraded will be able to keep their software updated.
They have also stated that tests indicating that users will see a 20% improvement in signature verification, and at least a 10% overall improvement for typical transactions!
Sydney Ifergan, the crypto expert tweeted: “Monero (XMR) are doing what it takes to sustain their efficiency and functionality. Increasing numbers of people are trying to identify their transactions. Smarter the thief – smarter the cop!”
Past the news of Triptych – A New Algorithm Protecting Monero Users – by Monero Outreach, the update on the status of CLSAG is exciting. For those who do not know, Triptych is zero-knowledge proving system for confidential transactions which is faster, lighter, and more private.
Monero (XMR) Record Number of Transactions
Very recently, Monero XMR were talking about how they were able to perform record number of transactions in response to something that read: “Monero transactions just hit an ATH! 16,689 which is 4.43% of Bitcoin’s transactions the same day.”
While all these are happening, it is noteworthy to recollect how Dr. Sarang Noether interviewed Dave Jevans, CEO of Cipher Trace to know more about their new Monero tracing tool!
Will Monero ever permit someone to trace their where about.