Introducing Litecoin Core V0.16.0 – Litecoin Gets A Much Anticipated Upgrade
Litecoin has performed fairly well in the past considering the competition in the crypto markets. The cryptocurrency has now announced major upgrades to its system following the unveiling of Litecoin Core V0.16.0 on May 31.
Following is a detailed but brief insight into the new changes and upgrades as well as a look at their expected impacts.
Major Upgrades For Litecoin Network
Litecoin Core V0.16.0 will introduce major changes and upgrades to the original version. Some of the highlights to expect include changes to its wallet, GUI, RPC, and other low-level components. It has also boosted its support for pruned nodes as well as improving optimization for SHA256.
Litecoin Core v0.16.0 released! All users are advised to upgrade. https://t.co/OKeQbrAnIs
— Litecoin Project (@LitecoinProject) May 31, 2018
However, the most significant changes are in its Segwit wallet. Litecoin Core has been seeking to integrate with the Segwit wallet, and it now says that it has developed complete support for it thanks to this upgrade. Several things have now changed. For starters, any Segwit addresses that will be created will be automatically added to the wallet.
Secondly, any pool keys that will be used in transactions will have their redeemscripts automatically added to the wallet file. Finally, Litecoin Core V0.16.0 has upgraded the default version of the HD wallets. All these upgrades are meant to save users time and effort while also fixing long-overdue bugs.
Fixing Bugs And Introducing Flexibility
Litecoin Core V0.16.0 has cleared most of the bugs that plagued Litecoin. For instance, the previous wallet directory database was stored in the LTC data directory, at the very top level. Now, the wallet directory has been made more flexible and will be easier to access and use. Additionally, Litecoin Core V0.16.0 has introduced a new support for the BIP 159 pruned nodes. It will also disable the safe mode by default and add a new savemempool RPC by default. Finally, the conflict between the JSON-RPC and testnet will be avoided by changing the former to 19443 and the latter to 19332.
A Much-Welcome Change, But More Needs To Be Done
Litecoin has been collecting feedback from its users regarding the changes and upgrades brought by Litecoin Core V0.16.0. The changes have been welcomed by most people as the platform will now be easier to use and its competitiveness will hopefully boost its value.
The Litecoin platform conducted extensive research regarding the new Litecoin Core V0.16.0 before releasing it to its clients. It is now confident that the new platform is safe to implement, and has urged all users to upgrade their systems to accommodate the upgrades. However, it has also urged caution as the new platform has also presented new bugs that will also need to be ironed out later. To this end, it recommends that users constantly back up their wallets before upgrading and also afterwards to keep their data intact.
In the meantime, however, Litecoin users can look forward to a better experience with faster turnover speeds and less hitches. The platform can also look forward to a more competitive environment as it grows more popular among ardent cryptocurrency users.