As many of us already know, Monero is one of the world’s most popular open-source securities token that can be procured by cryptocurrency enthusiasts/ investors today. However, what makes XMR really stand out is its unflinching focus on delivering a high level of privacy and decentralization.

With that being said, the company has just revealed that its native token offering has just completed its audit successfully. The audit was carried out by Kudelski Security in relation to the currency’s latest protocol— “Bulletproofs”.

What is ‘Bulletproofs’?

Quite simply, Bulletproofs is a “new non-interactive zero-knowledge proof protocol” that utilizes short proofs and no trusted setup. To further expand on this, we can see that the proof size is only logarithmic in the witness size. Not only that, Bulletproofs are also well suited for efficient range proofs on committed values.

Did the audit showcase any problems/issues?

As per the audit report released by Kudelski

“We did not identify substantial discrepancies between the Java version and C version of the integration of bulletproofs in RingCT. Although we didn’t find major security issues, the relative complexity of the new protocol combined with the limited set of tests (in particular, without test values) is a potential risk.”

Final Thoughts

With the successful completion of this latest audit, Monero has further strengthened its position within today’s cryptocurrency space. The company now awaits the completion of two more audits that will be performed by Quarkslab and Benedikt Bünz in the coming few weeks.

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