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by Cindy Huynh Monero, a privacy-focused open-source cryptocurrency announced via Twitter that Kudelski Security, an independent Swiss cyber and media security solutions company, has completed the first successful technical audit of Monero compatible Bulletproofs on July 16, 2018.

Monero also embedded a draft of the full report in a tweet. While there were a few minor issues, the successful audit was a big win for Monero.

The positive news may have also led to a 7 percent increase in the value of the Monero token on July 17, 2018. Monero is known in the cryptocurrency community as a privacy coin.

According to the Kudelski report, Monero has “strong privacy protections thanks to state-of-the-art cryptographic components.” The idea is to ensure that transactions remain confidential. Unlike Bitcoin, any received transactions cannot be associated with a user’s public address.

The Bulletproof Protocol Audit is a term used to describe a method of enabling users to undergo cryptocurrency transactions on a decentralized peer-to-peer platform with complete privacy. Monero previously used the Range of Proof protocol. Read more from…

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