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Monero upgrade

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  • Monero upgrade

    Anyone got a layman's terms breakdown of this Monero upgrade? This is what I've seen about it:

    Dear participants of the Monero ecosystem,

    A tentative schedule for the upcoming scheduled network upgrade has been set. The schedule is as follows:

    October 24 - Code freeze
    October 31 - Targeted v0.15 release date
    November 30 - Network upgrade

    Thus, approximately the 30th of November there will be a scheduled network upgrade on the Monero network. To be sufficiently prepared, a user, service, merchant, pool operator, or exchange should run CLI v0.15 or GUI v0.15. The scheduled network upgrade introduces a few major changes. First and foremost, a new long-term Proof-of-Work algorithm, namely RandomX, will be introduced. Miners therefore ought to upgrade their mining software as well. Second, long payment IDs will be phased out in order to improve privacy and user experience as well as reduce support work for services and exchanges. Third, transactions will now require at least two outputs. Fourth, the ten block (approximately twenty minutes) lock time for incoming transactions will be enforced on the protocol level. Both these changes will improve privacy for the user as well as for the whole network.

    itfinex to Support Monero Upgrade November 27, 2019
    Bitfinex is supporting the Monero (XMR) protocol upgrade scheduled for 30/11/19. This is being done to improve levels of privacy on the Monero network, along with the introduction of a new long-term Proof-of-Work algorithm, RandomX.
    Customers will be required to regenerate their XMR deposit addresses on our platform from 27/11/19 12:00 PM UTC.

  • #2
    Binance has announced support for the Monero network upgrade