At Monerotopia, I interviewed Koe, a Monero contributor, lead developer on the Seraphis project and co-author of Zero to Monero. He got me even more excited about the future of the privacy tech that will power Monero in the near future.
The Monero community is ecstatic about Seraphis, a new protocol upgrade. This upgrade, which is scheduled to go live in 2024 or later, will allow for more Monero implementations. However, before it can be implemented, the new code and ideas must be thoroughly reviewed and audited by a third party to ensure their safety and effectiveness.
So what is Seraphis?
Seraphis is a new transaction protocol with promising new features including Jamtis, a new addressing scheme. Seraphis alters the current development trajectory by allowing users to transfer money from themselves to others, as well as introducing a new addressing scheme that provides a better user experience and different capabilities for different wallets.
The use of more efficient ring signatures is one of the most significant privacy improvements in Seraphis. Ring signatures are a method of concealing the details of a blockchain transaction by referencing a small group of funds in the ledger. This makes it impossible for an observer to determine which funds are being spent, ensuring users’ privacy.
Jamtis’ new addressing scheme allows two types of wallets to interact with addresses: the standard wallet that everyone has and the main wallet. The main wallet displays all funds that exist and are owned, whereas the Jamtis wallet is a view-only wallet that displays the full balance of an address as well as all funds that have been spent from it.
This improves the user experience by separating the ability to spend funds from a portion of their funds, thereby making their funds more secure.
I know this may be a little technical for some, but trust me, you really want to start learning this technology as it will protect your privacy and sovereignty in the future.
Koe explained that to take advantage of the new address format, users must update their wallets to the most recent version of Monero. Sub-accounts will remain unchanged, but new addresses will be required.
Within three days, the Monero community successfully funded a RandomX project, demonstrating the community’s commitment to improving Monero. The community had to decide which upgrades to prioritize, and the decision-making process was fascinating. Koe told me a bit about how the community of contributors made their decisions.
Koe and the other Monero developers are focusing on specific goals such as improving privacy, efficiency, and user experience in order to progress and develop. If they deem an idea worthwhile, it will naturally progress through the development process, receiving the necessary support along the way.
Technical writing, coding, and protocol processes are the focus of the Monero community. People are enjoying the progress toward higher goals and contributing to something meaningful, so they are making sure to enjoy themselves while doing this meaningful and serious work.
Check out the video interview and join the community if you want to learn more about Monero and the Jamtis and Seraphis upgrades.
You can watch the video on Vigilante.tv HERE.
Post originally posted on CryptoVigilante.io
how many monero are there?
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