On February 26 the team of developers of Bitcoin have announced the release of another big update of the Core Bitcoin wallet 0.16.0. The release contains several important changes.
In Bitcoin Core 0.16.0 added full support for Segregated Witness (SegWit) solutions for scaling the network, which was activated on the network of Bitcoin in August last year and aims to solve the problem of the plasticity of the transaction, and also to increase network throughput and to serve as base for Lightning Network.
The release includes full support for native address SegWit that use more user-friendly format bech32.
Collectively, this and other improved features allow users to take full advantage of SegWit that reduces the size of the transaction and ultimately leads to lower commissions.
Although this release entitled support SegWit, it includes several other noteworthy updates:
Default is enabled replace-by-fee (RBF), which allows users to replace transactions with low commissions a new transaction with a higher Commission.
All newly created Bitcoin Core wallets are hierarchical deterministic (HD) and work in accordance with the BIP32 Protocol that allows you to create child keys from a single master key. as a rule, created on the basis of the secret phrase. This solution increases the usability of the purse, but makes it more vulnerable to hacking compared to the classical scheme of generating keys.
In addition, users will notice small changes in the graphical interface using the command-line interface and remote procedure (RPC).
Because of the above change purses created in version 0.16.0 and later will not be compatible with Bitcoin Core version to 0.16.0, so users should keep this in mind if they ever decide to return to an older version.