Efforts are on the way, to change the core Infrastructure of Bitcoin. Even though, the process might be arduous and tedious.
The New Bitcoin Software Upgrade
Bitcoin may be tough to use, even with the friendliest of instruments and tools, but a global volunteer group, which was primarily behind the implementation of the Bitcoin Core is about to effect some more changes to the bitcoin blockchain platform through the release of its 17th major software.
The group will focus on some strategic elements. One of the most important updates is the improvement in the software’s default wallet, where user’s bitcoin private key is stored.
While there is a lot of exciting updates, insiders reveal that one of the most important is the debut of a new language, a feature that was first proposed by one of the biggest names in the crypto world, Pieter Wullen.
The introduction of the new language to Bitcoin is a welcome idea and a great innovation. The language will make it easier to move keys from one wallet to another without losing important information on the wallet, and will also help to add extra details to keys. Analysts are also of the opinion that it will provide a sane alternative to the problematic account system that was ripped out of the software.
Losing information, which is one of the core problems will be adequately tackled. The language aims to tag each key with a label that describes what can unlock it. John Newbery, an engineer with Chaincode, was of the opinion that, the new language would “change the way we think about wallets.”
A Whole Lot Of Updates
Although, there are lots of upgrades in the new release, however, Bitcoin enthusiasts and analysts are excited about a few, and one of them is called the “dynamic wallet creation.” Giving a rundown on this feature, a bitcoin enthusiast and brain behind the Partially Signed Bitcoin Transaction (PSBT) Chow said “a few releases ago, we introduced the ability to use multiple wallets in Bitcoin Core. However, that required starting Bitcoin Core configured for multiple wallets. Now, we can load, unload and create wallets when the software is already running.”
The new changes are a step in the right direction for the cryptocurrency community at large. This new changes will help to attract more adoption in the global market.