What are the benefits of the new Bitcoin Core client version? The Bitcoin Core 0.16.0 description on Github states that it will deliver “new features, various bugfixes and performance improvements” which points out to the SegWit support.
21 February, AtoZForex – The new Bitcoin Core client version has been released to the public commentary earlier last week. The version includes full Segregated Witness support for the first time that comes with a bunch of other upgrades.
Benefits of the new Bitcoin Core client version
The Bitcoin Core 0.16.0 description on Github states that it will deliver “new features, various bugfixes and performance improvements” which points out to the SegWit support. The interest for this technology has skyrocketed back in August 2017. The SegWit support allows decreased transaction processing time, which is a great advantage for the end user.
Some of the largest Bitcoin wallet providers and payment processing companies have been relatively slow in adopting this technology. This has led to the critique from the users who were awaiting the technological development to be implemented.
SegWit is now also being associated with a growing demand for the so-called “Layer 2” solutions as a popular solution for Bitcoin’s scalability problem.
Bitcoin technical Flexibility
Just last week, Microsoft has supported the Lighting Network, while simultaneously criticizing the alternative “on-chain” scaling methods such as the bigger size of the blocks, calling it “degrading decentralization”.
The Bitcoin Core Github description also states:
“Bitcoin Core 0.16.0 introduces full support for segwit in the wallet and user interfaces.”
Some other new features included in this version cover the area of technical flexibility. Less significant changes include the reference to “bits” instead of “µBTC”, thus pointing to the increasing purpose to target less technical users.
Jimmy Song, Bitcoin core developer and venture partner at Blockchain Capital, has shared his views on the most remarkable feature of Bitcoin Core version 0.16.0. He has stated:
“Native segwit support (bech32) is going to get much more adoption as a result of this update. This will reduce block bloat and encourage more wallets in the ecosystem to adopt bech32.”
Think we missed something? Let us know in the comments section below.