Monero Reveals New ‘’Triptych’’ System For Scalability And Privacy

Monero reveals a new system named ‘’Triptych’’ which aims to improve the privacy and scalability of the network according to the researchers so let’s find out more about the new improvement system in the following Monero news.

Triptych could or could not be introduced to the future versions of Monero and it has been described in the research paper from January 6. The researchers say that they are also working on a variant with an even better scaling solution. Triptych is building on the Ring Confidential Transactions or RingCTs which are used by Monero to obscure transaction values through decoy inputs. The triptych will also allow monero to handle a lot of decoys and to be more efficient in doing so, but also to process highly private transactions that require a lot less verification time.

The new system offers logarithmic scaling which means that it would allow Monero to handle a lot more decoys that it does right now. Monero adds 10 decoys to each transaction by default and the new system will allow Monero to handle 512 decoys and doing so will only take 45 milliseconds on average. Triptych has another advantage as well: it Is trustless and with this feature that Zcash uses, privacy can be compromised if initial participants collude or when critical data is leaked. Monero itself doesn’t rely on a trusted setup and most of the current alternatives to Triptych are based on such a setup which gives monero a huge advantage.

Monero reveals the new system but it is not clear if the monero developers will choose to utilize Triptych. The technology is still in an early stage and has yet to be reviewed. There are other scalability improvements under consideration including the Lelantus, RingCT 3.0 and Omniring which all can improve transaction privacy as well. Monero has implemented other improvements as well and the project introduced the bulletproofs in 2018 in October which reduced the transaction fees and transaction times dramatically. Monero’s hard fork from November is best known for introducing RandomX, also improved security and privacy through several smaller changes.

Monero’s privacy features boosted the coin to increase by an additional 7 percent in the New Year as per the charts as reported previously in our altcoin news.