Monero recently introduced an upgrade that market players can easily dismiss as a run-of-the-mill safety update. More scrutiny, especially about the reasons for the update, shows it’s a critical update for future-proofing security. Monero has shown consistency as far as security updates are concerned.
For instance, it has been analyzing its blockchain’s tolerance against future potential threats. Indeed, AI has seen rapid progress over the past few years and is among the top threats to monetary platforms. Monero’s recent upgrade came as a response to the observations from research targeted at gauging its pliability against AI.
The findings showed malicious attackers might compromise ring signatures using AI. That would translate to compromising the network and welcoming successful attacks. Magic Grants’ Justin Ehrenhofer was among the report writer.
He stated that eleven ring members might see public info on Monero aiding fraudsters in forecasting spending of transactions higher than the 9% (1/11) random guessing probability. That model saw the correct guesses potential increasing to 13.3%, a slight uptick.
Sealing Possible Loopholes
Monero reacted to the findings by increasing its ring size to 16 from 11. Threats of AI-powered attacks might massively dent network undertakings and catalyze FUD among market players. Meanwhile, XRM resorted to declines on September 13, losing 11.63% within a day – though the broad market sump triggered this slump.
The downside halted XMR’s journey to its three-month peak. Instead, the alternative token retreated towards the 23.6% FIB retracement mark. Meanwhile, XMR has already rebounded from the same FIB price zone at the $142 mark.
Monero’s daily candlestick remained 3.37% up during this writing after bottoming at $145. The alternative token seems ready for another bounce, similar to last week. Nevertheless, investors remain on the fence due to the present market trajectory as they await another economic data this week.
Meantime, XMR investors should watch broad market sentiment for profitable undertakings. Bears dominated the marketplace following the recent Bitcoin slump to $20K. The leading crypto witnessed downside tendencies, hovering at $20,056.89 during this publication. Such narratives saw the altcoin market slumping harder.
Stay tuned for the latest crypto news.
