News

Scaling up Bitcoin’s new software – SegWit

Last month, when bitcoin’s new software upgrade to support Segregated Witness(SegWit). The network’s most heated debate on direction on the mark. However, the optimization need to leave more on a direction.

Even though there are rare transactions so far, approach is likely to grow as more bitcoin services and wallets supports the change. Meanwhile, it will have more of an impact on increasing the block size to support more transactions. Therefore, it paves the way for scaling solutions like Lightening Network.

Bitcoin Core developers, with the intention towards the goal most widely used version of the cryptocurrency. However, its underlying software are being assembling to help boost the effort.

A focus on performance

In an San Francisco presentation, Blockstream CTO and Greg Maxell, one of most active Bitcoin Core developers seconded the nation that 0.15.0s focus relates to preparing Bitcoin for a SegWit- enabled capacity boost.

Maxwell explained:

“With SegWit coming online, we knew the blockchain would grow at an even faster rate, so there was a desire to squeeze out all of the performance gains we could to make up for that”.

Also Read: After SegWit2x Hard Fork Rookstock Confirms Launch ‘By December’

The improvements aiming to reduce the time it takes to create a bitcoin full node. Since the changes increases the blockchain’s blocksize and predicts will become even harder with Segwit activated.

Particularly, full nodes are main for the bitcoin community since running one is arguably the best way to use bitcoin without 3rd party. However, as many as sees the whole point behind the digital money.

But it adds more of a reason to focus on optimization and speed.

Maxwell said:

“As always, but especially with 0.15.0, we had a big push on performance”.

Moreover, the technical upgrades introduce to speed up the software include non-atomic flushing and script validation flushing. The Core development team performance intent in making bitcoin more manageable ahead of SegWit.

Not yet witnessed

Presently, most of bitcoin wallets have yet to support SegWit, but it’s not to be the case for long.

Although, 0.15.0 focuses on performance upgrades to prepare for SegWit wherein the new software doesn’t support SegWit transactions. Bitcoin Core developers contends it’s safer to wait and see if it works before rolling out transaction support within Core. Although, the release notes mention, more “complete” support for the change will be included in “a next version” of the bitcoin software.

At that particular time, user will be able to create its transactions with the Core wallet and get the benefit of SegWit’s transaction fees.

Read Next: Bitcoin’s battle vs Segwit2x is commence

Tags
Show More

Sara Noah

Sara Noah is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

four × three =

Back to top button
Close
whatsapp