All About BTC, LTC, ETH mining as well as other alternative crypto currencies
One of the main things that has pushed the development of alternatives to the Bitcoin Core software is the ongoing debate about the blocksize and more specifically if and how it should evolve over time in order to cope up with the growing number of Bitcoin users and the increase of the number of transactions. So now apart from Bitcoin Core we also have Bitcoin Classic, Bitcoin Unlimited and Bitcoin XT as major alternatives and there are already quite a lot of nodes running a different software than the Core one. The website Node Counter allows you to easily keep track of the number of different nodes in the Bitcoin network and what version of the Bitcoin software they are running as well as how things are changing over time. Looking at the graphs we can clearly see that the support for 2MB or larger blocksize is growing, but still the number of Core nodes that are keeping the 1MB blocksize is a few times larger. Bitcoin Classic is getting significant increase in support and is currently with about 1/4 of the size of the number of Core nodes, followed by Bitcoin XT and Bitcoin Unlimited that have been recently loosing support most likely in favor of the Classic implementation. If you are interested in how thing are developing you can keep track on Node Counter or another of the many new websites with similar goal that have popped up recently.
Here comes the official release of Bitcoin Core v0.12.0, but note that there is still no final solution implemented for the growth of block size over time and the debate continues. Still a lot of work has gone into this release and it may just be the biggest one yet, with more significant improvements than any other before.
Here is a list of the major improvements in version 0.12:
– 7x Faster Signature Validation
– Ability to Limit Upload Traffic
– Crash Prevention via Memory Pool Limits
– Option to Send Transactions That Can Be Fee-Boosted
– Improved Rules for Transaction Relaying
– Automatic Usage of Tor When it’s Running
– Ability for Apps to Subscribe to Notifications With ZeroMQ
– Massively Reduced Disk Usage for Wallets
– Much Faster Block Assembly for Miners
In addition to these, there are 13 other improvements that didn’t make the top list but are nonetheless quite valuable. You can find a complete list of them in the Change log.
The size of the Bitcoin Blockchain data files continues to rise rapidly hitting 60 GB already, up with 10 Gigabytes for a bit less than three and a half months when it was just about 50GB and up with about 20 GB for the last about 7 months and most likely doubling in size in the last 1 year. The increase in size is to be expected with more transactions happening on the Blockchain as more users are getting interested in Bitcoin and the continuing adoption of the crypto currency by more users. The big size of the complete Bitcoin Blockchain data however is already a bit of a problem for some users that don’t have that much free space on their computer and want to run the Bitcoin Core wallet with the full local copy of Blockchain or people that want to be providing a Full Bitcoin Node. If the trend remains the same we are looking at about 120 GB or more n terms of size for the BTC Blockchain in just about a year, so there is something to think about…