On the threshold of the Bulletproof technology implementation, Monero community was polled about auditing this process. The issue is that there are many developers are working on this feeding-in, and some points could be overseen or even lost. Moreover, there might be some aspects which could be improved.
For this purposes, it was decided to invite third-party specialists and companies for an independent audit. The Monero Community have chosen three contractors: Benedikt Bünz, QuarksLab, and Kudelski Security. The complete audit from all three companies will cost about 130 XMR and around $50,000.
As far as XMR is community-based and community-funded currency, Monero community was asked to contribute whatever they can to help these audits happen. Most of the community members welcomed this appeal, and the crowdfunding of the examinations has started. There are 457 XMR total to be raised and by May 17th, the community already collected 259.59 XMR.
The Bulletproof technology is going to reduce Monero transaction fees’ size by 80%. It will solve two main Monero developers’ problems at once: reduce the size and fees of the transactions.