# Monero community reaches consensus for July hard fork
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” Monero community reaches consensus for July hard fork “
Raising the number of ring signatures is meant to ensure that transactions have a larger anonymity set, making it harder to reverse engineer the sources of a transaction. One developer pointed out that view tags could reduce network scanning times by up to 40% in deriving the output public key for its anonymous transactions. Changes were approved for Monero’s maximum block size to grow at 14x per year instead of 32x (which affects its fee value). Finally, Bulletproofs, a zero-knowledge proving system, will be used for range proofs in Monero. The feature will result in faster encryption and verification on the blockchain.
Cointelegraph previously reported that privacy coins have been surging lately as it appears that family funds and individuals investors are increasingly holding XMR as a hedge amid recent market turmoil. The topic of privacy coins has been controversial among the crypto community. Some point to their ability to ensure greater anonymity during transactions, while others raise concerns about using XMR to shield illicit transactions and its alleged embracement by extremist groups. Last year, Kraken delisted XMR for its U.K. customers, citing regulatory pressure.
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