Only the transaction amount stay hidden, the sender and the receiver’s address will be still visible.
Anyway, the technology is still in a relatively nascent stage, and not many cryptos have adopted this feature yet.
Monero and bulletproofs
Back in 2017, the company said that they are considering exploring bulletproofs for its protocol.
An official blog post detailed that “bulletproofs represent a huge advancement in Monero transactions. We get massive space savings, better verification times, and lower fees.”
Sarang Noether, a cryptographer at Monero Research Lab, also explained that implementing bulletproofs effectively reduced transaction size by about 80%, which translates to an 80% cut in transaction fees as well.
The initial testing that was done by the company demonstrated that the time required to verify a bulletproof was lower than the current range proof.
This means that the implementation of the technology would trigger a much faster blockchain validation process.