Monero Community Agrees on July 16 Hard Fork

The Monero (XMR) community has reached consensus on a July 16 hard fork that will see the network initiate a mainnet hard fork at block height 2,668,888, including changing the current size of Monero’s ring signatures from 11 increased to 16, add view tags to output to reduce wallet scan time, implement fee changes, etc.

The increase in the number of ring signatures is to ensure that the transaction has a larger anonymity set, which makes it more difficult to reverse the source of the transaction. The zero-knowledge proof system Bulletproofs will be used for Monero’s range proofs (range proofs), which will Enables faster encryption and verification on the blockchain.