Bitcoin Core 0.16.0 Released With Full SegWit Support

Feb 27, 2018 at 12:38

Bitcoin Core 0.16.0, the 16th generation of Bitcoin’s original software client, with the capability to provide full support to Segregated Witness (SegWit) scaling technology was released on Monday.

“This is a new major version release, including new features, various bugfixes and performance improvements, as well as updated translations,” a circular sent to Core’s mailing list read.

Core developer, Peter Todd was among official sources that confirmed the release.

It can be noted that with the full support of SegWit technology, Bitcoin Core will have reduced transaction fees and processing times. It is a feature that has long been requested by users of the software client since its release in August 2017.

Likewise, the SegWit support also provides the foundation for more revolutionary upgrades to Bitcoin, including second layer solutions such as the Lightning Network which could see both fees and confirmation times reduced to near zero.

At present, majority of crypto companies and crypto wallet providers have been slow to implement full support for SegWit but pressure from customers frustrated by high fees and slow transactions have forced some of them to finally adapt the technology.