Monero's FCMP++ upgrade is the next major change to how the network hides who is spending. On 2026-06-05, developer j-berman opened PR #10724, adding curve-tree code that is part of the FCMP++ membership-proof system. FCMP++ replaces Monero's current ring-signature decoy set with a proof that a spent output belongs to the entire set of past outputs, not just a small ring.
TL;DR: FCMP++ swaps Monero's small ring-signature decoy set for a full-chain membership proof. PR #10724 adds curve-tree code toward that goal. No hard-fork date is set; activation is still speculation.
FCMP++ (Full-Chain Membership Proofs) is a Monero protocol change that proves a spent output is one of all historical outputs, instead of hiding it among a fixed ring of decoys.
What PR #10724 actually changes
PR #10724 adds curve-tree code — a data structure that lets Monero prove an output belongs to the full set of past outputs efficiently. Today, Monero uses ring signatures: each spend is mixed with a small set of decoy outputs (currently 16). An observer knows the real spend is one of 16, but not which one.
FCMP++ widens that set to every output ever created. Instead of a 1-in-16 guess, an observer faces a 1-in-millions membership proof. The curve-tree structure in PR #10724 is the mechanism that keeps those proofs small and fast to verify.
This is incremental engineering, not a launch. Earlier FCMP++ groundwork landed in PR #10362 (retrieved 2026-06-05). It is a sign the work is steady, not that activation is imminent.
Where FCMP++ stands today
- Code, not consensus — PR #10724 adds curve-tree code to the codebase. Merging code is not the same as activating a protocol change on the network.
- No hard-fork date — No FCMP++ activation date is scheduled as of 2026-06-05. Any specific timeline you see is speculation.
- Audits come first — Activation typically follows audits and a scheduled network upgrade. FCMP++ is a cryptographic change, so review precedes deployment.
If you hold or use XMR, nothing changes for you today. Your existing outputs and wallets keep working. FCMP++ is forward-looking infrastructure.
Why this matters if you move value privately
Monero's privacy comes from three on-chain mechanics: ring signatures (hide the sender), stealth addresses (hide the receiver), and RingCT (hide the amount). FCMP++ upgrades the first — sender privacy — by making the decoy set the whole chain.
That matters at the point you acquire XMR. Buying it on an exchange that holds your identity links your name to your coins at the on-ramp, no matter how strong Monero's on-chain privacy is. The privacy of the protocol can't undo an identity-linked purchase.
A no-KYC, non-custodial swap avoids that on-ramp linkage. GhostSwap is a no-KYC crypto exchange — no account, no email, no signup required to swap. Funds pass through; we never hold them.
How to swap BTC to XMR without an account
- Pick the pair — Open the BTC to XMR swap and choose your amount.
- Enter your XMR address — You supply a receiving address and a refund address. No account, no email, no identity verification.
- Send your BTC — Send to the deposit address shown. Funds pass through non-custodially; GhostSwap never holds them.
- The engine converts — Pricing is floating-rate from aggregated liquidity across leading crypto markets. 1,600+ trading pairs are supported across BTC, ETH, XMR, SOL and altcoin networks.
- Receive your XMR — Median completion is about 8 minutes, though it varies with chain congestion.
| Feature | GhostSwap | Identity-linked exchange |
|---|---|---|
| Account / KYC | None required | Required |
| Custody | Non-custodial pass-through | Held by the exchange |
| Pricing | Floating-rate, aggregated liquidity | Order-book or fixed quote |
| On-ramp linkage | No identity at the swap | Name linked to coins |
FAQ
Q: Does FCMP++ make Monero more private?
A: FCMP++ widens the sender's decoy set from a small ring (currently 16) to the full chain of past outputs. That strengthens sender privacy specifically. Stealth addresses and RingCT already cover the receiver and the amount.
Q: When does FCMP++ activate?
A: No activation date is set as of 2026-06-05. PR #10724 adds code; activation needs audits and a scheduled network upgrade. Any specific date is speculation.
Q: How long does a BTC to XMR swap take?
A: Median completion is about 8 minutes, with most swaps finishing inside 8 to 30 minutes depending on chain congestion. Pricing is floating-rate, and 1,600+ trading pairs are supported.
Q: Do I need an account to swap BTC to XMR?
A: No. There is no account, no email, and no identity verification for swaps. You supply a receiving address and a refund address; funds pass through non-custodially and are never held by GhostSwap.
Swap BTC to XMR
FCMP++ is the protocol's job; keeping the on-ramp clean is yours. Open the BTC to XMR swap or start from the GhostSwap homepage.
