Cardano, IOHK

One of the top privacy coins, Monero (XMR) has really shown strength in the market. It is back trading above $50 USD in the market, and there have been recent updates in Monero network. The latest upgrade of the protocol is just planned by XMR. 

Monero (XMR) has scheduled protocol upgrade is set to occur on block 1788000 on 9th March. The users, merchants, services, pool operators, exchanges, and any other members of the Monero ecosystem should upgrade to and subsequently run v0.14 once it is released in order to be sufficiently prepared. 

The release will include a patch for the wallet bug, a patch for the Ledger bug as well as some additional bug fixes. Monero has planned to launch binaries which are forthcoming and upgrade GUI v0.14.0.0 release binaries which are forthcoming as well. 

Moreover, Monero (XMR) has begun with a new platform which is known as Forum Funding System (FFS) also referred to as Crowdfunding System (CCS). It is a git-based project and uses subaddresses and is free of spam.  

As far as the version update is concerned, there will be slight changes which include a new Proof of Work algorithm, new dynamic block size algorithm, payment ID changes for much-improved privacy and smaller transactions.

As far as the Monero development community can tell, this is a non-contentious fork, and no chain splits are expected as there is a reasonable expectation of users upgrading their software. That said, and especially if users are running a critical service, everyone should be aware of the possible risks of claiming funds (airdrops) on different chains. To prepare for the network upgrade (hardfork), the Monero development community will release several clients before. Users must upgrade their software to continue using Monero after the upgrade. 

The stable Monero release 0.14 will be available very soon, within the next week. This will contain the consensus changes necessary to continue using Monero but is based on the current stable release. An alpha release 0.14.1 RC1 will be released soon after, once the fork has occurred and everything has settled down. 

This release will be based on the current master branch, where active development happens. The Monero development community recommends users of critical services use 0.14, and users who want to help test should use 0.14.1 RC1. This 0.14.1 release will follow the expected release engineering path, with a 0.14.1 stable being released once sufficient testing has occurred. Once this happens it is safe (and recommended) for all services to upgrade to take advantage of the current features, privacy protections, bug fixes, and enhanced security of that version. 

Recently, a malicious fork was exposed, which marks a question on XMR’s privacy, probably this update will solve such issues and bring proper measures to it. But despite this, the price of Monero (XMR) has remained pretty stable, which is a really positive indicator for the future of the coin.

Monero (XMR) has in the market has picked up positive momentum before the release of the new version update. At the time of writing, XMR was trading with a price of $51.16 USD with a market cap of $861 million. In the last 24 hours, it has surged up to 1.50%. So, the overall market performance is getting better for Monero, as the market is getting settled once again. 

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