The Bitcoin Core is the Bitcoin source code and is the reference implementation of the Bitcoin network. The Bitcoin Core is the only program that fully implements the Bitcoin protocol, protecting the network, and is considered the reference on which the rest of existing clients are supported. In this regard, the Bitcoin Core version 0.16.1, a new main version that includes new features and performance improvements, has been officially launched.
It contains important updates such as the Bech32 protocol integration for SegWit addresses, which was proposed by Peter Wuille and Greg Maxwell a little less than a year ago. The purpose of this implementation is to distribute the signatures in the operations in a more efficient way, allowing them to enter more transactions in the block and thus decreasing the cost of the commission.
Being a reference customer, Bitcoin Core includes wallets or purses as well as verification engines for transactions, so all these aspects have been modified with the update. In this sense, the new version includes “new features, several bug fixes and performance improvements, as well as updated translations.” In particular, this version of Bitcoin Core eliminated the miner block size by remembering the depreciation of the “-blockmaxsize” option so that miners limit the size of their blocks in version 0.15.1. He says miners should now apply the “-blockmaxweight” option if they want to limit the weight of their blocks.
In addition, the update affected the wallets that were created in 0.16 and later. They are not “compatible with versions before 0.16 and will not work if you try to use new wallets in previous versions”, says the version. The previous version of the Bitcoin Core client was launched in late February, and provided “full support” to Segregated Witness (SegWit), which is designed to reduce processing and waiting times, as well as transaction fees.
Bitcoin Core developer Jimmy Song then commented on the most notable feature of Bitcoin Core version 0.16.0, saying that “native SegWit support (bech32) will have much more adoption as a result of this update. the swelling of the block and will encourage more wallets in the ecosystem to adopt the bech32 “. An error that could potentially have caused the miners to lose income if they produced two blocks in a very rapid succession was corrected. Similarly, cease retransmission of transactions using the OP_CODESEPARATOR operation code, which is seldom seen, for legacy signature scripts (no segwit). The presence of this operation code makes it difficult for the nodes to estimate how much computational work will be required to validate an inherited signature script.
Because of that, it blocks the deployment of solutions to prevent attackers from creating blocks that require a lot of time to be validated. By itself, this policy of change to retransmission does not solve the problem itself, but makes it easier and safer to implement the proposed solutions in the future in case users accept to adopt them. This update also introduces the Replace-By-Fee (RBF) protocol, which allows you to replace an unconfirmed transaction with another version of the same with a higher amount of commission, in order to be processed faster.
The new version can be downloaded through the official Bitcoin Core page or through BitTorrent. As announced by the developers, this software was tested on major operating systems and runs smoothly on Linux, versions of MacOS higher than 10.8 and versions of Windows after Vista.
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