Monero Talk

Monero’s FCMP+ Upgrade Status with Diego Salazar of Cypher Stack | EPI 353

June 17th, 2025  |  1 hr 43 mins

bitcoin, blockchain, cbdc, crypto, cryptocurrency, cypherstack, diegosalazar, fungible, lukeszramowski, monero, monerotalk, monerotopia, privacy, privacycoin, rarar, xmr

TODAY'S SHOW: In this episode of Monero Talk, Douglas Tuman chats with Diego Salazar (Rarar) and Luke Szramowski from Cypherstack about Full Chain Membership Proofs (FCMPs), a breakthrough that will dramatically boost Monero’s privacy. Diego, a longtime Monero contributor and founder of Cypherstack, discusses Stack Wallet—an open-source, multi-platform wallet for privacy coins—and stresses the importance of user-friendly design in privacy tech.

The conversation dives into FCMPs, which will expand Monero’s anonymity set from around 16 to potentially every transaction ever made, with only a logarithmic increase in size. Luke, a mathematician and cryptographer, details the recent hurdles involving 'divisors'—key components that improve FCMP efficiency—and how they overcame complex security challenges to develop a secure version now under review by the Monero Research Lab.

Diego ranks privacy levels across cryptocurrencies, placing current Monero at a 1, Firo’s Lelantus Spark at 4, and Zcash’s Halo 2 Orchard at 10. With FCMPs, he believes Monero could reach 9 or 10—on par with Zcash. The discussion also covers post-quantum cryptography as the next big frontier, with Cypherstack already exploring solutions. Despite earlier setbacks, FCMP development is back on schedule, targeting a Q1 2026 deployment pending code compatibility checks led by MRL’s Justin Ehrenhofer.