Topic: [2018-02-26] Bitcoin Core 0.16.0 With ‘Full Support’ For SegWit Gets Official (Read 102 times)

Segwit has been active for quite a while now. With some tweaking, people could get it working within the previous versions of the Core client already. In that regard, we can say that Segwit with this latest release has become a bit more user friendly for the end user. Electrum enabled Segwit for the end user last year, where people could generate and start using their bench32 addresses directly after their main update. I am currently still using the bench32 (bc1) addresses generated with Electrum, but will move to the 3... address format generated through the Core client somewhere in the coming weeks. It's going to be one heck of a job to create new backups and whatnot, pfff, but it will be worth it.

Well, better late than never as they say. This has taken a long time to be implemented in a greater scale due to many factors including the unnecessary politicking and just outright refusal from some parties to be part of SegWit. Now, this is already gaining the needed momentum and we are hoping that soon SegWit can be felt by all of us Bitcoin lovers and hodlers.

Meanwhile, two of the biggest cryptocurrency exchanges, Coinbase and Bitfinex, have confirmed that they are going to launch the SegWit protocol on their websites. This is confirmation that the market is ready for the new technology: Bitcoin Core 0.16.0 Introduces Full Support for SegWit - Crucial Milestone in Bitcoin’s History

This is exactly what Bitcoin's ecosystem needed. I went ahead and updated to the latest client, and will soon step away from legacy addresses entirely by moving all my cold wallet funds over to SegWit addresses. From now on it's waiting to see how quick services are going to adapt and upgrade their operations. It has taken long enough and there is basically no way they can come up with excuses and whatnot to delay utilization of SegWit. If they do come up with excuses or simply don't follow at all, then it might be a sign of them trying to form an obstacle for whatever (probably paid incentive) reason. Not utilizing SegWit means you're working against Bitcoin, it's that simple....

Bitcoin Core 0.16.0 With ‘Full Support’ For SegWit Gets Official Release




The Bitcoin Core client version which provides “full support” to Segregated Witness (‘SegWit’) scaling technology finally received its official release Monday, Feb. 26.

A circular to the Core mailing list confirms the raft of upgrades in addition to the historic SegWit move, the forthcoming release having been announced on Github earlier this month.

“This is a new major version release, including new features, various bugfixes, and performance improvements, as well as updated translations,” the circular reads echoing the Github announcement.

Core Developer Peter Todd was among official sources confirming the release.

"Full-RBF for Bitcoin Core v0.16.0 https://github.com/petertodd/bitcoin/tree/replace-by-fee-v0.16.0 …

Note that v0.16.0 isn't officially released yet; this patch has been applied to the v0.16.0 on GitHub. I'll update it in the (very!) unlikely event that tag gets changed."

"...and good timing, Bitcoin Core v0.16.0 has been officially released: https://lists.linuxfoundation.org/pipermail/bitcoin-core-dev/2018-February/000052.html …"

 - @peterktodd | https://twitter.com/peterktodd/status/968081855701508101


As Cointelegraph reported last week, Bitcoin Core 0.16.0 marks a key milestone in the history of Bitcoin.

SegWit, which promises reduced transaction fees and processing times, has been a major request on Bitcoin users’ wish lists since its release in August 2017.

A number of major companies and wallet providers in the industry have been slow to implement it, however, leading to pressure from the customers frustrated by high fees and slow transactions.

The technology further provides the foundation for more revolutionary upgrades to Bitcoin, including the so-called “second layer” solutions such as the Lightning Network which could see both fees and confirmation times reduced to near zero.

Lightning’s mainnet release has made rapid progress with adoption since the start of the year despite the only limited support for SegWit.


Source: https://cointelegraph.com/news/bitcoin-core-0160-with-full-support-for-segwit-gets-official-release