Monero hard-fork complete

One of the most curious cryptocurrencies on the market, famous for its own anonymization solutions, has announced on its Twitter account that the planned hard-fork of the system is complete and went exactly as planned. As this is a scheduled and fully consensual protocol update, no new cryptocurrency like Bitcoin Cash or Ethereum Classic was created.

One of the most notable changes in this update is that the RingCT transactions will become mandatory. This solution is best described as a tool that creates a sophisticated web that does not allow the outsiders to determine who is sending money to whom. Cryptographic solutions of Monero has even become approved by hackers, as the group responsible for WannaCry attacks reportedly moved funds to this cryptocurrency, and lately there have been interesting reports about new mining scripts hidden on the pages of The Pirate Bay – a very popular torrent tracker. This script used the visitors’ browsers and processors to mine Monero.

However attractive to malefactors the means of anonymization in Monero might be, one should not forget that knives, too, can be used for many purposes. Any state official who would suggest restricting this cryptocurrency will potentially lose a powerful tool of hiding transactions the companies of his country might find handy and it will increase competitiveness.