Monero Transaction Fees Reduced by 97% After Bulletproofs Upgrade

After the recent hard fork upgrade of its protocol, Monero has seen its transaction fees shrink by approximately 97 percent, dropping from 60 cents to just 2 cents. Crypto analytics firm Coinmetrics shared a tweet confirming the drop in fees and their corresponding reduction in transaction size, falling from 18.5kb pre-fork to 3kb — an 80 percent change.

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The upgrade, called “Monero 0.13.0 Beryllium Bullet,” implements “bulletproofs.” First introduced by researchers at Stanford, the…

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