The Monero Moon (Issue 68)
The Monero Moon is a curated newsletter covering all the latest news within Monero (XMR). We are driven by a compelling need to champion both freedom and financial privacy!
Table of Contents:
Development, Releases, and Technology
General News
Events
Exchanges and Merchants
Community Crowdfunding
Trading and Speculation
Network Metrics
Entertainment
Development, Releases, and Technology
Rucknium has published the first draft of their white paper, "Defeating a Black Marble Flood Against Monero: Best Options for Ring Size and Transaction Fee," concluding that increasing Monero’s ring size is a more cost-effective strategy against a black marble attack than raising transaction fees. The analysis suggests a combination of a large increase in ring size and a modest fee increase provides a strong defense. Rucknium is seeking community feedback on this draft, so feel free to reach out to them.
Haveno v1.0.6 has been released, featuring various improvements, updates, and bug fixes. Haveno, a privacy-focused, non-custodial, decentralized exchange for Monero that has just recently gone live, now includes a protocol change where the maker selects the arbitrator, improves offer reliability, and fixes issues with custom Monero nodes and payment confirmations. The full changelog and installation instructions are available here. Additionally, recent community discussion regarding Haveno can be found here.
Haveno Reto v1.0.6 has been released, introducing improvements such as enhanced offer reliability, a new arbitrator selection protocol, and bug fixes for custom Monero node connections and non-English startup errors. Haveno Reto is a fork of the original Haveno project with specific modifications and enhancements, including mainnet usage, adjusted fee structures, custom arbitrators, and improved filtering mechanisms, while retaining the classic Bisq UI. Currently, Haveno Reto appears to be the most popular Haveno public network. Users are advised to be cautious and make proper backups when using early software versions. More information can be found here and here.
Wondering how to get started using the Haveno DEX (Reto) on Windows? Thanks to darknetreporter and Monero Talk, these video guides below may help you out.
Ur_mothers_keeper has issued a warning to beware of impersonators attempting to mislead the community into believing they are the Haveno project. According to Ur_mothers_keeper, a Reddit user named u/HavenoMain is associated with this group, which has acquired multiple domains such as haveno.sc, haveno.bz, haveno.me, and more. They are misleadingly presenting themselves as part of the Haveno team. While the Monero community is likely aware, newcomers might be deceived. It's crucial to ensure accurate information is shared and to verify sources before trusting such sites.
Woodser has released v0.8.27 of the monero-java library, which now allows starting ‘monerod’ and ‘monero-wallet-rpc’ from the command line in English. The monero-java library is a Java library for creating Monero applications using RPC and JNI bindings, supporting various wallet types, multisig, view-only, and offline wallets. The full changelog is available on GitHub.
selsta has posted their May 2024 Monero development progress report, marking the completion of the first milestone in their part-time CCS proposal. Highlights include v0.18.3.4 being nearly ready, investigation of a daemon bug causing out-of-memory issues during high transaction volumes, enabling monero-gui pruning by default, and several smaller bug fixes. For a complete list of changes, visit GitHub.
Justin Berman has published his first progress report after 190 hours of work on his full-time Monero/Seraphis CCS proposal. Key achievements include setting up the FCMP tree in C++, implementing the grow algorithm, and starting the LMDB implementation. More information can be found here.
Throughout May, Monero's hashrate climbed from approximately 2.0 Ghash/s to around 2.8 Ghash/s. However, at the end of the month, it took an unusual drop to about 1.77 Ghash/s, a decrease of approximately 36.8%. Since then, the hashrate has climbed back up to the levels seen in March and April, around 2.0 Ghash/s. Discussion about the reason for the significant rise and subsequent drop in hashrate can be found here. The primary explanation from the Monero Reddit community was the takedown of a large botnet, which had been contributing substantial mining power. This theory is supported by a noticeable decline in share submissions from major pools like Nanopool and SupportXMR, and numerous news publications referencing the ‘largest ever botnet’ take down.
Mining or running a Monero node is crucial for the security and decentralization of the network. By participating, individuals contribute to the verification and validation of transactions, ensuring that the network remains censorship-resistant. This decentralized approach enhances privacy, making Monero a robust and secure cryptocurrency. Additionally, running a node supports the network's resilience and integrity, distributing power across many users rather than a few centralized entities. This collective effort not only strengthens the Monero ecosystem but also upholds the core principles of financial freedom and privacy for all users. You can set up a node using old CPUs or mobile devices at home. Helpful guides can be found here and here, making it accessible even for non-technical users to run a Monero node.
Researchers from Beijing University claim to have identified a vulnerability in Monero’s integration with the Tor network, allowing transactions originating from Monero Tor hidden service nodes to be deanonymized by correlating onion addresses with real IP addresses. This attack requires both malicious Monero nodes and Tor guard relays, needing at least 179 malicious relays for a 77% success rate. While challenging, a well-resourced attacker, such as a government, could potentially execute this. The study underscores a critical privacy risk at the network layer despite Monero’s robust anonymity features. For more details, refer to the full paper.
The Monero network has surpassed over 42 million transactions, reflecting its growing adoption and utility in providing private and secure digital transactions. This milestone underscores the network's robustness and its role as a leading privacy-focused cryptocurrency in the market.
hinto-janai has released Gupax v1.3.8, featuring updates to the list of XMR remote nodes and a visual bug fix for Windows. This version removes xmr{1,2,3}.rs.me nodes and includes bundled versions of P2Pool v3.10 and XMRig v6.21.3. Gupax is a GUI for mining Monero on P2Pool, using XMRig. More information can be found here.
Cyrix126 has released Gupaxx v1.1.1, a stable update featuring bug fixes and maintenance improvements. Gupaxx is a fork of Gupax designed to simplify mining on P2Pool while optionally participating in the XMRvsBeast raffle. Key changes include an updated list of CPU benchmarks, improved performance by using async instead of unnecessary threads, minor code cleanups, and updated dependencies. Additionally, system requirements have been added to the README, and specific Windows issues have been resolved, enhancing overall stability and usability.
COMIT has released v0.13.0 of its XMR-BTC atomic swap implementation, xmr-btc-swap. This update includes improvements such as bumping the Minimum Supported Rust Version to 1.74, updating monero-wallet-rpc to v0.18.3.1, adding support for starting the CLI as a daemon, and lowering the default Bitcoin confirmation target for Bob to 1. Downloads are available on the release page.
Monero Observer has released a new Monero Dev Activity Report to provide a big-picture view of Monero's development activity throughout the past week. If you’re interested in the nitty gritty, check it out here.
PrivacyOG has proposed a bounty for creating an open-source Android app for Haveno DEX. The app should be user-buildable, support advanced features like order book fetching and real-time chat, and integrate Tor and Monero. To qualify for the bounty, the code must be open-sourced, a demo provided, and the app must be buildable and testable by the community. Additionally, if you want to support the project anyone can increase the bounty by transferring XMR to the address posted by the Monero Bounties Bot. More information can be found here.
Thorsten Kaiser aka DiosDelRayo aka vthor has submitted a CCS proposal to resurrect the Monero Signer project. The proposal aims to complete the originally promised work with modifications for better usability and security. Key milestones include setting up the basics on an emulator, developing a companion application, and integrating with Monero-GUI. More details about the proposal can be found here.
Cake Labs has announced the first Cake Wallet beta release for Windows 10 and 11. Users can now test Cake Wallet on Windows with its full range of cryptos and features. For downloads, SHA-256 hashes, and to join the testing group for feedback, visit the Cake website, GitHub repository, and Telegram group.
General News
Anhdres has released Monero Garden, an educational project funded by the CCS, now live at monero.garden. Monero Garden is a website designed as a clean and friendly space to start someone's Monero journey, acting as an educational source for users to learn and explore at their own pace. Ongoing improvements to the user experience and illustrations to come after MoneroKon. Feedback is welcomed via GitHub and a public matrix room to help enhance this valuable resource. More information can be found here.
LIBERECO has announced the beta launch of their Monero knowledge aggregator website. LIBERECO aims to centralize Monero information and resources in one place. Key features include a dashboard with network stats, price, news, and community feeds, a comprehensive resources page, and a blog. Future plans include hosting an XMR node and a blockchain explorer. You can check it out here.
Monero Observer published the Monero Observer Blitz #30 for May 2024. This monthly recap covers all the significant events and updates in the Monero community for May. Check it out here for all the news and info you may have missed.
Revuo Monero Issue #197 has been published. Check it out for a weekly dose of Monero news.
The recently streamed Monerotopia Episode #168 features the launch of CopaMonero with guests Anhdres and Alessandro, an update on XMRBazaar, a price report by Bawdy, and news highlights with Tux. The episode covers a wide range of topics, including Cake Wallet Windows Beta, Haveno mobile, updates on cryptocurrency legislation, and notable figures like Michael Saylor and Javier Millei.
Monero Talk was also live at the 2024 Libertarian National Convention. Check it out below!
Peter Van Valkenburgh from Coin Center, a leading non-profit focused on policy issues facing cryptocurrencies, highlighted in a tweet that the recent DOJ MEV case underscores the risks of lacking base layer privacy in major blockchain protocols. He warned that without privacy, validators and miners could exploit transaction information or face legal liabilities for relaying transactions linked to sanctioned addresses or suspected money laundering. He suggested this could severely impact public blockchains. Due to its privacy characteristics, Monero does not have this problem.
Events
SirJaɱzAlot provided a summary of their recent Monero meet-up in Tokyo. For more details about the meet-up, you can find it here on X.
The MoneroKon Hackathon, scheduled this week for June 7-9, 2024 in Prague, Czechia, promises an engaging 48-hour event focused on enhancing security, privacy, and decentralization within the Monero ecosystem. Limited to 100 participants, the hackathon will feature projects aimed at developing the Monero core codebase and its broader ecosystem, providing attendees with free access to the MoneroKon conference, as well as complimentary food, drinks, accommodations, and the opportunity to win over $6,000 in prizes and bounties. For more details and to register, visit Monerokon.org.
MoneroKon 2024 itself will run concurrently with the hackathon in Prague this weekend! This annual event draws privacy advocates, cypherpunks, researchers, and developers from around the globe, dedicated to the advancement and dissemination of privacy-enhancing technologies and distributed systems.
The Monerokon 2024 event schedule can be viewed here.
A Monero Research Lab (MRL) meeting will take place on Wednesday, June 5, 2024 at 17:00 UTC. You can find more information about the meeting here, thanks to the Monero Observer. The MRL meeting will take place in the #monero-research-lab channels if you want to lurk in real-time.
The next Seraphis Wallet Workgroup meeting should be on Monday, June 10, 2024 1800 UTC in the #no-wallet-left-behind IRC channel. You can learn more about Seraphis here.
The next Community Workgroup Meeting is scheduled for Saturday, June 8, 2024 at 15:00 UTC in the #monero-community IRC channel. The Community Workgroup Meeting will discuss things such as CCS proposals and updates, community highlights, and workgroup reports.
Exchanges and Merchants
XMRBazaar, a KYC-free Monero P2P platform similar to Freelancer/Airtasker/Craigslist, is now ready for beta testers. Example ads include users who want a product from Amazon, and will reimburse you for XMR once the product has been delivered. Someone can even help you with your homework! Visit XmrBazaar.com using the credentials "beta" and "tester" to participate. There’s even a Trollbox!.
Monero Vegas has launched the first-ever Monero-only sportsbook for non-US users. The platform requires no accounts, deposits, or emails, and pays out automatically at the end of matches. Initially offering limited sports and bet types, Monero Vegas plans to expand in the future. Report bugs via the onsite chat or in their Reddit thread. Feel free to check out the Monero Vegas Sportsbook.
Trocador, a Monero and privacy-focused exchange aggregator, has recovered from a recent DDoS attack it experienced. Some VPN connections and Tor IPs are still blocked due to strict policies to contain the attack. More information can be found here.
Monero-Master has introduced the Monero Circular Economy Pledge (MCEP), an insignia for websites, retailers, or service providers to build confidence among Monero buyers and businesses. Participants pledge to use Monero profits to buy other products or services with Monero, avoid converting Monero to fiat currency via exchanges, and transact with other MCEP listed businesses. Interested businesses can apply here.
An open-source Monero ATM prototype will be up for auction at MoneroKon 2024. Visit the ‘Monero ATM project’ stand for more details.
Community Crowdfunding
Several crowdfunding proposals are awaiting community feedback before they can start accepting funds through the Community Crowdfunding System (CCS). For now, they are just proposals, but if they receive some positive feedback from the community they will be moved to a “Funding Required” stage so that they can accept Monero donations through the CCS.
Plowsof has submitted a progress report after another two months as CCS coordinator. Key activities include organizing five community meetings, funding 13 proposals, and addressing outstanding issues like the lack of an onion URL for CCS and delays in proposal decisions. Miscellaneous tasks include testing webhooks and developing a historical CCS earnings script. The full report is available here.
FreeRoss has submitted a CCS proposal to develop a new, robust, and user-friendly platform for managing proposals within the Monero Community Crowdfunding System (CCS). The project, requiring 523.63 XMR and estimated to take 18 months, will be developed in phases, including initial setup, proposal submission, enhanced management features, community engagement, security enhancements, and integration with Monero infrastructure. You can find more details or support the proposal here.
Trading and Speculation
XMR has rebounded to its earlier price levels from the beginning of the year, showing a significant recovery of approximately 50% from its mid-April low. A daily close above $180 and then $190 would be extremely bullish.
On the XMR/USD daily chart, the Ichimoku Cloud has now flipped bullish, indicating a potential upward trend in the market.
On the XMR/BTC daily chart, Monero's price is now within the Ichimoku Cloud, suggesting the potential for an edge-to-edge move. The target for this movement is 0.0028 BTC.
Network Metrics
Total Monero in Circulation — 18,445,832 XMR
Monero Total Marketcap — $2,971,477,037
Coinmarketcap Ranking — #41
XMR/USD Price — $161 USD
XMR/BTC Price — 0.002259 BTC
Monero.Boats’ Monero Street Price — $166 USD (+3.18%)
Average Transaction Fee — 0.00035 XMR ($0.056)
Monero Network Hashrate —2.16 Ghash/s
Monero Mining Pools Hashrate Distribution —
Entertainment
Donate
If you like the newsletter and want more of this content, then shout me a round of beers by donating some spare Monero you didn’t lose during your boating accident.
8C2xtdsCmJGhUgvMWYLayRR1wFgrjtQ2wNvzgFfrAfbjW7gatQDiNjUfFX7K5cm9UVefrVPFmxiM4jhhybsLQGpG1aeRzfD
Have we missed something?
Please contact me if you believe I have missed an important piece of news, or want something included in a future issue.
Support Monero
Want to help contribute to the Monero Project? Developers, marketers, event coordinators, translators, Instagram personalities, meme creators, and public speakers — whatever your skills may be, it is extremely likely there is something you can do to assist. Reach out to the Monero community on Reddit, IRC, GitHub, Twitter, or Telegram. The official Monero website is GetMonero.org.
Past Issues
Issue 67 Issue 66 / Issue 65 / Issue 64 / Issue 63 / Issue 62 / Issue 61 / Issue 60 / Issue 59 / Issue 58 / Issue 57 / Issue 56 / Issue 55 / Issue 54 / Issue 53 / Issue 52 / Issue 51 / Issue 50 / Issue 49 / Issue 48 / Issue 47 / Issue 46 / Issue 45 / Issue 44 / Issue 43 / Issue 42 / Issue 41 / Issue 40 / Issue 39 / Issue 38 / Issue 37 / Issue 36 / Issue 35 / Issue 34 / Issue 33 / Issue 32 / Issue 31 / Issue 30 / Issue 29 / Issue 28 / Issue 27 / Issue 26 / Issue 25 / Issue 24 / Issue 23 / Issue 22 / Issue 21 / Issue 20 / Issue 19 / Issue 18 / Issue 17 / Issue 16 / Issue 15 / Issue 14 / Issue 13 / Issue 12 / Issue 11 / Issue 10 / Issue 9 / Issue 8 / Issue 7 / Issue 6 / Issue 5 / Issue 4 / Issue 3 / Issue 2 / Issue 1
Socials
If you have suggestions, corrections, or feedback, please contact me on Twitter @johnfoss69 or Reddit u/johnfoss68.
DISCLAIMER: This publication contains opinions for informational and entertainment purposes only and does not constitute investment advice. Information may contain errors and omissions; use it solely at your own risk. The author of this publication and/or the authors of articles linked to or from this site may have financial investments that could bias their opinions, including ownership of Monero currency. No website, service, or product mentioned in the newsletter constitutes an endorsement; use them at your own risk. Always do your own research, form your own opinions, and never take risks with money or trust third parties without verifying their credibility.
Thanks for adding the MCEP to your newsletter! 😁