Coinmetrics.io, one of the Cryptoasset Analytics firms tweeted about the average transaction fees of the privacy coin, Monero [XMR] and stated that it has dropped to 2 cents. The recent Monero hardfork which took place on 18th October is considered to be the reason behind this plummeted value.
The hardfork mainly concentrated on implementing a technology known as ‘Bulletproof’ on Monero. Bulletproof technology is a short non-interactive zero-knowledge proof without a trusted setup. The need for such a solution raised when the transaction details of the cryptocurrency had to be hidden from public validation.
https://ambcrypto.com/monero-xmr-transaction-fees-plummet-to-2-cents-post-the-bulletproof-hardfork/
