Monero will enable Bulletproofs technology after upgrade, transaction size may be reduced by 80%

Monero will upgrade on October 18 to use a new technology Bulletproofs

Privacy coins such as Monero use zero-knowledge proof mechanisms to help users hide transaction amounts in public ledgers while ensuring the trustlessness of the network. In order to ensure the validity of transactions, range proofs must be used. However, range proofs consume a lot of space in design, while Bulletproofs can do the same job without taking up a lot of space.

The Monero team said that deploying this technology can reduce transaction capacity by 80%, and will subsequently reduce transaction fees by 80%. Both the Ethereum and Bitcoin communities have discussed whether to integrate this mechanism.

Bulletproofs is a better zero-knowledge proof: https://www.jianshu.com/p/47c105f356f5