Tuesday, August 13, 2019

New Bitcoin Core client improves the performance of the mining reward

The new version of the Bitcoin Core client has been published. The 0.18.0 client will include some modifications to improve the efficiency of Bitcoin mining as well as changes to the call commands (RPC) that work in the protocol.

This new software is available from this Thursday, May 2. The most significant change in this version seeks to make the network mining reward more efficient. Thus, those who use this version of the Bitcoin Core client must configure their software to use SegWit, otherwise the calls to ‘getblocktemplate’ will fail. This improvement, in turn, aims to free miners from mining pools.

This RPC determines the specifications of the block templates with which the network miners work. With the client update, using this RPC without the SegWit configuration implies a lower reward, so this modification will benefit the miners.

In addition, the update will add new elements to the Partially Signed Bitcoin Transactions (PSBT), included in the protocol through BIP 174, which allow operations with BTC without an Internet connection. The client has an RPC called ‘joinpsbts’ that combines several different PSBT transactions into a single PSBT transaction.

We could say that this new utility allows batching of PSBT, that is, attach several outputs in the same transaction. "The PSBT result contains all the inputs and outputs of all PSBTs," reads the release notes of the new customer.

The previous version of the Bitcoin Core client was published in December 2018.