Bitcoin Core 0.15 to be released

Bitcoin Core 0.15 release presented by the developers in San Francisco
05 September 2017   2060

The new Bitcoin Core 0.15 software was presented by the developers at a recent meet up in San Francisco. A detailed report describing the key features was prepared by Greg Maxwell.

The release of the new version of the official client has been expected to take place by September 1st, but was postponed to September 14th-15th. As noted by Maxwell, a two-week delay is connected with the extremely high activity among the of developers as well as with the fact that not all of them have an access to the necessary cryptographic keys.

Thus, the Bitcoin Core  release plan looks as follows.

Bitcoin Core releases Bitcoin Core releases 

According to Maxwell, while working on v0.15, the main focus was primarily on the software performance. One of the reasons for this is the rapid growth of Bitcoin, which requires faster software. Speaking of improving productivity, one of the most important areas of work is a complete rework of the Chainstate (UTXO) database, meaning the output of unspent transactions.

The Chainstate (UTXO) database rework The Chainstate (UTXO) database rework

At the same time, there was a 15% increase in the size of the database on the disk (up to 2.8 GB), but, as noted by the developers, the overall performance improvement compensates it to the full. Another improvement related to the Chainstate database is a delayed (non-atomic) cache flushing.

Furthermore, among the other changes are:

  • The platform work boost
  • Caching of the script validation
  • Multiwallet
  • Improved mechanism for calculating and processing fees
  • Full support for SegWit

Experts Ask China Don't be in Rush For Own Crypto

Ex deputy chairman of the Bank of China said the CB should take part in the development of international regulation of crypto assets firstly
27 January 2020   125

China should strengthen cooperation with other countries to regulate the cryptocurrency industry, and not accelerate the development of its own digital currency, experts say. It is reported by the South China Morning Post.

So, the former deputy chairman of the People’s Bank of China, Zhu Min, noted that the central bank, which is developing a digital yuan in many ways as Facebook’s Libra response, should first of all take part in the development of international regulation of such assets.

Ba Shusong, chief China economist for the Hong Kong stock exchange, also believes that monitoring digital currencies requires a system that is controlled from different angles, as they have the potential to change the global financial system.

You would need to first improve the regulatory framework for [financial] technology. There is a need for global cooperation for an alternative regulatory framework.

 

Ba Shusong

Chief China economist for the Hong Kong stock exchange

 

Many fear that the popularity of Libra could strengthen the dominant role of the US dollar. At the same time, Deutsche Bank analysts believe that the digital yuan will undermine the primacy of the dollar in the global financial market.

Hiromi Yamaoka, the ex-head of the Bank of Japan supervisor of payment and settlement systems, also emphasized that the upcoming launch of Libra has caused competition among central banks seeking to make their currencies and services more attractive.

Something like Libra would make transactions costs much cheaper. Major central banks need to appeal that they, too, are making efforts to make settlement more efficient with better use of digital technology.

 

Hiromi Yamaoka

Former head of the Bank of Japan’s (BOJ) division overseeing payment and settlement systems