Bitcoin Core 0.18.0 Hints Offline Tx Signing and Bets on Segwit Adoption

The Bitcoin Core 0.18.0 client is finally ready. The service, which was tested for several months, has just been launched recently and it comes with some upgrades that intend to upgrade the efficiency of BTC mining at the same time that it would boost the adoption of Segwit.

According to the developers, one of the most important updates is that now the users can configure their software to let it be compatible with Segwit. Before that, the compatibility was not fully supported and all “getblocktemplate” commands would end up failing, which would generate lower rewards for miners.

This happens because the command fails if the Segwit is not specified in the configuration. Now, however, the error will be easier to detect, as an error message will appear if the program was not properly enabled.

This clearly promotes the implementation of Segwit, however, the team affirmed that they expected miners to be able to achieve more freedom and independence from mining pools as well as part of the update. If they adopt the protocol, they can increase their profits without needing to depend on third parties.

Another clearly important change that is being made right now is the introduction of the RPC known as joinpsbts on the protocol. With the help of this upgrade, the users will be able to use several kinds of Partially Signed Bitcoin Transactions into a single transaction. This way, offline txs will also be supported by the new version.

The development team has stated that they hope that Segwit is widely adopted within a year, which is why the update is focused on Segwit. According to them, the 0.20 version, which is expected to be launched within a year, will default to native Segwit addresses which will be useful for the users to save on fees and be benefited in other ways.

If the project sees that bech32 addresses get enough adoption, it may default to Segwit in Bitcoin 0.19 and do not even wait for the next update, though.

Not Everyone Likes Segwit

The truth is that Segwit also has several people who are against it. The implementation separates the tx signature from the transaction, which lets the miners mine more transactions in a single block.

However, some people in the industry see it as a short term scaling solution that was not ideal. People from Bitcoin Cash (BCH), the famous Bitcoin fork, are against Segwit, as they believe that it reduces both the transparency and credibility of the Bitcoin blockchain.

The debate will certainly continue, though, and Segwit is being pushed forward right now.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide