The Monero Moon (Issue 73)
The Monero Moon (Issue 73)
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
Monero v0.18.3.4 'Fluorine Fermi' has been released, with new binaries for both the official CLI and GUI wallets now available. Key updates include the removal of support for locked transfers in the CLI, added support for Trezor Safe 5 in the GUI, and several improvements to the daemon and wallet functionalities, such as fixing unintended disconnections and adding Ledger Flex support. A big thank you to the dedicated developers—0xFFFC0000, j-berman, vtnerd, tobtoht, Boog900, luigi1111, selsta, jeffro256, SChernykh—whose hard work resulted in 39 commits for the CLI and 22 commits for the GUI in this release. Users are encouraged to verify their downloads using the provided SHA256 hashes and GPG signatures. Full details and new binaries can be found on the GetMonero.org downloads page.
A pull request has been made for the integration of Full-Chain Membership Proofs (FCMP++) into Monero, marking a significant step forward in enhancing the protocol's privacy and security. While the pull request is still a work in progress, it aims to replace the existing ring signatures with FCMP++, dramatically increasing the anonymity set from 16 to 100 million outputs. This upgrade not only mitigates current vulnerabilities like the EAE attack but also introduces features such as transaction chaining, outgoing view keys, and forward secrecy. These improvements ensure Monero remains at the forefront of privacy technology, without the need for a full migration to a new address format. The pull request will undergo further review and refinement to ensure its soundness before full implementation.
woodser has released new versions for two Monero libraries: monero-cpp v0.8.11 and monero-java v0.8.32. Monero-cpp and monero-java are libraries that provide C++ and Java bindings for interacting with Monero. Updates include synchronizing with monero-project v0.18.3.4, removing unlock time config, and adding bcrypt and mingw-w64-x86_64-icu as Windows dependencies. Additional changes include removing the table of contents from the monero-cpp readme and improving monero-java to handle missing fees fields in fee estimates.
woodser has released monero-ts v0.10.1, which includes several fixes and improvements. The Monero TypeScript (monero-ts) library is a tool for building Monero applications, enabling client-side wallets and daemon interactions using RPC and WebAssembly, and supporting features like multisig, view-only, and offline wallets. Key changes include replacing deprecated request libraries with Axios, improving fee estimate handling, and addressing all npm vulnerabilities. These updates were contributed by mainnet-pat and woodser.
Kewbit has taken up the bounty for developing an MVP Tor-based mobile application designed to interact with the Ledger Nano X and Haveno Daemon. Originally proposed by FreeRoss as a web-based solution emphasizing security and privacy via the Tor network, Kewbit shifted the project towards a native multi-platform app using Flutter/Dart. This change has sparked discussion in the comments, with the community actively weighing the benefits of a native app versus the initial web-based approach. Kewbit has made significant progress, including integrating Tor and working on Ledger Bluetooth connections, while maintaining a strong focus on security and privacy. There's ongoing discussion about potentially integrating both approaches. Another bounty project, focused on building an open-source Android app for Haveno DEX, complements Kewbit's work on the MVP Tor-based mobile application, as both contribute to the development of secure, decentralized tools for interacting with the Haveno network, though they target different platforms and approaches.
The Monero Subscriptions Wallet, a Monero wallet designed to automatically handle subscription payments using the Monero Payment Request Protocol, has been making steady progress. Regular updates are shared on their X page, which you can follow here, and you can explore the project's development on GitHub here.
Monero Observer has published 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.
0xFFFC has posted the third and final progress report for their full-time Monero development work for July 2024. The report highlights several pull requests (PRs) related to Monero Core, including fixes for CMake and log size adjustments, as well as contributions to the Stressnet project. More information can be found here and here.
rehrar has posted the first progress report for their part-time CCS proposal focused on Monero non-dev tasks. The bulk of their time was spent on website work, including redesign efforts as a UI/UX designer. Other tasks included sorting out new expectations for Matrix mods, assisting with CCS-related tasks, and participating in website workgroup discussions. The next milestone will likely focus on furthering the website redesign using Astro.
tobtoht, a Monero contributor since 2018, has submitted a CCS proposal for 3 months of full-time work on Feather Wallet and Monero core development. The focus will be on reproducible FCMP++ builds and finishing multisig support for Feather. Additional planned work includes maintaining Feather, addressing user-reported issues, upstreaming patches to Monero core, and assisting with testing and reviews.
Justin Berman has submitted a CCS proposal for 3 months of full-time development on Monero and the Seraphis wallet library. The proposal focuses on integrating full-chain membership proofs++ into Monero under RingCT, continuing work on the Seraphis wallet library, and handling miscellaneous tasks like review and debugging. The proposed work is expected to be completed within 3 months.
Kewbit has submitted a CCS proposal to develop "Haveno Plus," a multi-platform native app designed for decentralized applications that connect to the Haveno Daemon. The app, written in Dart/Flutter, will support Trezor and Ledger hardware wallets and enable users to buy and sell multiple fiat currencies with XMR. The proposal outlines milestones including creating the user interface, writing the protocol interface, and integrating atomic swaps, with an expected completion by December 31, 2024.
Binarybaron and Einliterflasche’s CCS proposal to further develop the XMR-BTC atomic swaps ecosystem, aiming to transform it from a proof of concept into a mature, decentralized marketplace, is close to being fully funded. Over the past two years, they have developed key components such as the GUI, CLI, and ASB utilities, and have maintained public infrastructure like swap provider registries. Their proposal seeks support for continued work, focusing on improving reliability, enhancing user-friendliness, and expanding the ecosystem's capabilities. Their goal is to enable anyone to reliably acquire Monero in a censorship-resistant and decentralized manner.
General News
Telegram CEO Pavel Durov, with a net worth of $15.5 billion, was arrested in France amid an investigation into Telegram’s moderation practices, raising significant concerns about privacy and censorship. Authorities suspect the platform’s lack of moderation may facilitate criminal activities, but critics argue that this move undermines the fundamental rights to privacy and free communication. Durov's arrest, condemned by figures like Elon Musk, highlights the growing tension between government control and individual freedoms. This situation underscores the vital role of censorship-resistant technologies like Monero, which, much like Telegram, serves as a bulwark against centralized control and censorship. The attack on Durov is not just about one man or one platform—it’s a challenge to the principles of privacy and resistance to censorship that Monero and similar technologies embody. This action should be denounced by all who value freedom in the digital age.
Vlad Costea from Bitcoin Takeover recently appeared on a live episode of Monero Talk, where he discussed his role as the MC for Monerotopia 2024 and his reasons for stacking privacy coins. Check out the episode for insights on his privacy-focused strategy!
In MoneroTopia Episode #180, special guest Seth For Privacy returned to discuss his new role at Cake Wallet. The episode also featured a Monero Price Report by Bawdy, weekly news updates with Tony, and discussions on topics such as XMR-BTC atomic swaps, privacy issues with Bitcoin, and more. The episode concluded with a segment where viewers joined the stage to share their thoughts.
A Monero Minute news update dropped last week, delivering all the latest Monero news in just 60 seconds, courtesy of the Monero.com wallet. Stay up-to-date with the community’s happenings by checking it out here!
For Spanish-speaking Monero enthusiasts, Anhdres has been hosting Monero discussions on X Spaces in collaboration with Cake Wallet. Check out the recording here.
A recent YouTube video by Crypto Tips, a channel with over 200k subscribers, titled "You Won’t Believe How Much They Want To TAX You!" features a mention of Monero around the 1:18 mark, highlighting its significance in the context of KYC regulations. The positive reference underscores Monero's continued relevance in the ever-tightening landscape of privacy and censorship. Despite its age, Monero remains a vital tool for those valuing financial privacy, and its importance is likely to grow as global scrutiny on privacy technologies intensifies.
Schmidt shared a detailed Twitter thread explaining how Pedersen Commitments uphold Monero’s privacy and security. These cryptographic techniques hide transaction amounts while ensuring that no new Monero is created, maintaining the currency's integrity. By using a blinding factor, only those involved in the transaction can see the true amounts, keeping them hidden from outsiders. This ensures Monero remains private, secure, and inflation-proof, demonstrating the robustness of its privacy-focused technology.
Events
The Monero Community Workgroup Meeting on August 24, 2024, covered several important updates and discussions. Highlights included a discussion on the bandwidth reduction proposal, the release of Monero CLI/GUI v18.3.4, and updates on the new Monero website design. The meeting also reviewed several CCS proposals, including full-time work on Cuprate, Feather Wallet, and Monero core development. There was a strong focus on ensuring the longevity and relevance of current and future projects, with positive feedback on most proposals. Additionally, the need for a CCS transparency report was noted. Thanks go to Monero Observer for the chat logs.
The next Monero Community Workgroup Meeting is likely to be scheduled for Saturday, August 31, 2024, at 15:00 UTC in the #monero-community IRC/Matrix channel. The meeting will focus on community highlights, CCS updates, and workgroup reports, with plowsof as the moderator.
The next Cuprate Meeting is scheduled for August 27, 2024, at 18:00 UTC in the #cuprate channel on IRC/Matrix. Cuprate is an alternative Monero node, written in Rust, designed to independently validate Monero consensus rules, providing added security, redundancy, and improved memory safety for the network. More information can be found here and here.
A Monero Research Lab (MRL) meeting will take place on Wednesday, August 28, 2024 at 17:00 UTC. The agenda includes updates on current projects, stress testing monerod, and research on Pre-Seraphis Full-Chain Membership Proofs. 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 channel on IRC/Matrix. You can find the chat logs of the previous meeting here.
A Monero Tech meeting is scheduled for Monday, September 2, 2024, at 18:00 UTC. The meeting will be held in the #no-wallet-left-behind IRC/Matrix channel. rbrunner7 is likely to chair the meeting, which will cover topics such as Seraphis/JAMTIS, Full-Chain Membership Proofs (FCMPs), and other long-term Monero development issues. The logs from last week’s meeting can be found here, and more information is available here.
Monerotopia 2024 is set to take place from November 14th to 17th at Huerto Roma Verde in Mexico City. This four-day event is a unique opportunity to immerse yourself in the world of digital privacy, with a strong focus on Monero. Attendees can expect a variety of activities, including Privacy Tech Talks, digital cash workshops, a hackathon, and the Monero Marketplace, where you can use XMR to purchase goods from local vendors.
The event will feature an impressive lineup of speakers, including Monero Core Team Member Francisco "ArticMine" Cabañas, SeraiDEX Lead Developer Luke Parker, and DarkFi's Amir Taaki, among others. In addition to talks and workshops, there will be live musical entertainment and plenty of opportunities to connect with like-minded individuals who share an interest in privacy and decentralized technologies.
Whether you're a seasoned Monero enthusiast or new to the space, Monerotopia 2024 offers a chance to deepen your knowledge and be part of a growing community dedicated to financial independence and privacy. For more details, including ticket purchases and the event schedule, visit the Monerotopia website.
Exchanges and Merchants
According to the Monero.Boats website, Monero is trading at a premium of approximately 17% on decentralized platforms, with prices around $190 compared to $162. This data comes from Haveno Reto, Bisq, and CoinGecko.
August stats from OrangeFren.com show Monero leading with 44% of transactions, followed by Bitcoin at 27%. This shift towards privacy-focused and decentralized payment options raises questions about the growing preference for Monero and Bitcoin.
Mynymbox, an anonymous hosting provider, reported that Monero was its most popular payment method in August, accounting for 47% of transactions, surpassing Bitcoin at 32%. This highlights the growing preference for privacy-focused payment options.
Eyejay is offering a rare opportunity to own a piece of Monero history with the Monero Barolo, a 2014 vintage marking Monero's inception year. Created as a playful meme on IRC when the Monero GUI was released, only 500 bottles were made, and just a few dozen remain. Each bottle comes in a wooden box adorned with the Monero logo, available in sizes of 1, 2, or 6 bottles. While shipping is available worldwide, please note that there may be restrictions due to alcohol import regulations. Orders will ship after the second week of September due to holidays. You can find the listing on XMRBazaar.
MoneroFox reported that NiceX was shutting down and delisted Monero (XMR) along with most of their other cryptocurrencies on August 23rd. XMR withdrawals remained available until August 26th, after which any remaining tokens in user wallets may be converted to BTC. The closure is part of a broader strategy by NiceHash to discontinue their exchange services and focus on mining. Users are urged to withdraw their funds before the complete shutdown in October.
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.
CCS proposals - funding required:
Trading and Speculation
Could any cryptocurrency withstand the impact of being delisted from all major exchanges? Remarkably, Monero has faced this exact scenario over the past few years, yet its price has demonstrated significant resilience. This enduring stability amid such challenges is a bullish indicator, suggesting strong underlying support and continued investor confidence in Monero’s long-term value proposition.
Monero Revolution recently highlighted a potential 176% rally for Monero (XMR) despite its delisting from major exchanges like Kraken and Binance. With a 30% surge in trading volume and a price increase of 11.7% to $168.80, analysts are drawing parallels to Monero’s 2016-2017 bull cycle. The upcoming Full-Chain Membership Proofs (FCMP++) and reduced reliance on centralized exchanges position Monero for significant growth, making it a privacy-focused asset to watch as global scrutiny on financial privacy intensifies.
Network Metrics
Total Monero in Circulation — 18,478,203 XMR
Monero Total Marketcap — $2,776,356,041
Coinmarketcap Ranking — #28
XMR/USD Price — $162 USD
XMR/BTC Price — 0.002595 BTC
Monero.Boats’ Monero Street Price — $192.55 USD (+17.9%) ← Wow!
Average Transaction Fee — 0.00039 XMR ($0.063)
Monero Network Hashrate —2.66 Ghash/s
Monero Mining Pools Hashrate Distribution —
Entertainment
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