Monero Upgrade Slashes Transaction Fees by 97 Percent

[kreslik.news]

Monero’s transaction fees have fallen by approximately 97 percent since its last update, according to CoinDesk.

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On the 18th of October, Monero took on an upgrade called ‘bulletproofs’. The results are clear: transaction fees dropped from around 0.5 cents (US) on the day before the upgrade, to 0.019 cents as of now.

What are bulletproofs?

To start from the beginning: Bitcoin and other proof-of-work-based cryptocurrencies are pseudonymous. All transactions are open and written in the shared ledger, and all users are denoted by an alpha-numeric username. These can be tracked.

Some cryptocurrencies – such as Monero – want ... (read more)