Altcoin Monero Refreshes High After Activating Oxygen Fork

Monero (XMR) developers have reported on the successful network upgrade of the project. Fork Oxygen Orion was announced back in September this year.

The team said in a statement that the updated version of the network will become more productive. It will integrate tools that increase the anonymity of transactions. A key element of the fork is the compact linkable spontaneous anonymous group (CLSAG) feature.

The Monero blog notes that with this option, the transaction processing speed increased by 10%. Moreover, the acceleration of operations did not affect their confidentiality in any way.

Holders of altcoin XMR have been warned in advance of the upcoming fork. In addition, the developers urged the owners of hardware wallets to regularly update the software to its latest version.

The Monero cryptocurrency has responded positively to the activation of the Oxygen Orion. The coin began to rise in price at the beginning of October. The increase in capital inflows into XMR has led many analysts to predict an increase in the price of altcoin to $ 120 and above.

Ahead of the fork, the coin skyrocketed to $ 128, the highest since late July 2018. After the update, there was a slight correction and today Monero is trading at $ 122.3. XMR has a market cap of just over $ 2.168 billion.