The Much-Anticipated Bitcoin Core 0.16.0 Version Finally Gets Official Release

The Much-Anticipated Bitcoin Core 0.16.0 Version Finally Gets Official Release

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February 26, 2018 by Bitzamp
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The long-awaited Bitcoin Core software upgrade has finally been officially released by developers on Monday, Feb. 26. The 0.16.0 version update have been announced by Github in early February. As bitzamp reported, the notable upgrade in the new versoin is the addition of full support for Segregated Witness (Segwit). The SegWit technology is intended to
The Much Anticipated Bitcoin Core 0.16.0 Version Finally Gets Official Release

The long-awaited Bitcoin Core software upgrade has finally been officially released by developers on Monday, Feb. 26.

The 0.16.0 version update have been announced by Github in early February. As bitzamp reported, the notable upgrade in the new versoin is the addition of full support for Segregated Witness (Segwit).

The SegWit technology is intended to solve major issues obstructing bitcoin’s extensibility. It promises reduced transaction fees and less processing time and has been in high demand by bitcoin users since its inception into the cryptospace last August.

However, major cryptocurrency exchanges have been slow to implement the code, resulting in pressure from customers frustrated by high fees and slow transactions.

The Bitcoin Core Client version includes other notable upgrade such as the Replace-By-Fee (RBF) feature  which allows users to replace slow transactions to be exploited by new transactions with higher rates. Then, all the newly created Bitcoin Core folders will be hierarchically deterministic (HD), which means that they work according to the BIP32 protocol and, therefore, allow the creation of secondary keys from the main keys.

However, Users should be aware of the fact that wallets created in version 0.16.0 will not be compatible with older versions due to so changes in the code base. It means wallet created in the new version can never be used in previous versions. In case a user ever wishes to go back to an older version.

 


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