Monero Multisignature implementation testing started

Multisignature will help Monero to to compete better with cryptocurrencies, in which this technology has already been integrated
07 November 2017   306

The terms for adding the multisignature function to the Monero cryptocurrency have not yet been determined, but work in this direction is underway, and users are already offered the opportunity to test this option. This is reported by Merkle.

The multisignature function has been known for a long time to users of bitcoin and allows wallet owners to enhance their security by signing up of a third party to confirm transactions.

At the same time in Monero, this functionality has not been implemented so far, as its implementation is complicated by the structural features of the cryptocurrency. However, recent events suggest that at some stage this will still happen.

In particular, some time ago, changes were made to the records in the Monero repository on Github. So, earlier all files related to the multi-signature technology were accompanied by the "DO NOT MERGE" tag, but at the end of last week this tag was deleted.

Additionally, the developer with nickcname "Moneromoo" who is responsible for the implementation of the multi-signature asked the community to test and evaluate the new option.

According to the publication, the introduction of the multi-signature function will allow Monero to compete better with cryptocurrencies, in which this technology has already been integrated. In addition, a multi-signature can in the long run affect the state of affairs in the darknet. It is possible that a number of marketplaces can go along the way of abandoning bitcoin and wider adoption of Monero with its higher level of anonymity.

Monero to Undergo Hard Fork

All Monero holders as of block 1529810 will become owners of MoneroV on March 14
21 February 2018   59

MoneroV is a private cryptocurrency fork of the Monero blockchain. A split will occur at block 1529810 when MoneroV miners will start to create blocks on the MoneroV network.

The new MoneroV blockchain will contain the history of all transaction up until block 1529810 and all Monero coin holders will receive 10x their XMR balance amount as MoneroV coins (XMV) after the fork.

MoneroV hard fork roadmapMoneroV Roadmap

Features:

  • Decentralized peer-to-peer blockchain transaction consensus
  • Using lower transaction fees and advanced modification to the core mechanism in the way MoneroV calculates transactions and balances
  • Sending and receiving addresses are obfuscated, as well as all amounts being transferred in all transactions, and the identity cannot be linked or traced to a transaction on the MoneroV blockchain

Specifications:

  • Coin Supply - Capped at 256 Million XMV. Smooth emission decline until minimum
  • Circulating Supply at Hard Fork - ~158 Million XMV (10x circulating XMR supply as airdrop)
  • Proof of Work - CryptoNight (to be changed)
  • Difficulty Retarget - Every block, adjusted difficulty initially after Airdrop
  • Block Time - Every 120 seconds
  • Block Reward - Minimum of 6 XMV per block at 184,467,440 XMV in total emission
  • Block Size - Dynamic, max 2xM100

Monero holders prior to the hard-fork split that will occur in block 1529810 will receive 10 times their holdings in MoneroV coins.

No official statements regarding the support of the fork by exchanges were made yet.