Bitcoin Core 0.13.0 ready to release. This means that in the next few days is expected to release the thirteenth version of the official bitcoin client, with a list of important updates, implemented in accordance with a two-year plan to scale the network.
On the new version for five months he worked about a hundred programmers. The development of Bitcoin Core 0.13.0 took five months.
All suggestions for improvement of the bitcoin Protocol was formed in the General list of 27 items
https://bitcoincore.org
In June, after a long wait has begun full-scale testing code SegWit. According to developers, SegWit has two major benefits: it increases the security of transactions and increases the capacity of the units. However, it will only be activated in the next version of the program.
Child pays for parent (Algorithm "child pays for parent")
This algorithm will provide miners the opportunity to choose which transactions to include in blocks. The number of transactions in the bitcoin network grows, and the miners, for including transactions in a block, it is necessary to set a higher Commission. Transactions with high enough commissions waiting for confirmation longer, and sometimes they are not confirmed. This situation creates problems, especially in periods of "stress tests" when the total number of transactions in the network rises sharply, which is accompanied by significant delays in making payments.
Users can increase the priority of its tranzitsii by increasing the fee, encouraging miners (with Replace-by-Fee this can be done even after the transaction, but it is not available in all wallets)
Previously the recipient had no opportunity to influence the speed of transaction processing. Now this problem can be solved using the algorithm "Child Pays for Parent". With this option, the miners will prefer not to transactions with the highest Commission, but rather more favorable sets of transactions.
In practice, this means that the recipient of a transaction with a low Commission may attach to it the transaction with the highest Commission. Motivated new transaction with high Commission, a miner will include the entire set of transactions. Thus, the recipient will not have to wait long for confirmation, then as a miner will increase your income.
Relay Compact Blocks
To date, the bitcoin Protocol does not have high efficiency. The nodes send to each other most of the transaction data twice: the first time as the transaction itself, in its initial submission, and the second time as part of the unit upon confirmation of the transaction.
When you double the data transfer transaction requires more network traffic, which increases the cost of operating nodes, and inhibits the proliferation of units in the network.
Relay Compact Blocks, was developed by programmer Matt Corallo (who works in Blockstream), allows to reduce excess data transfer. When mining the new block nodes transmit very short hashes of the data about the transaction. After the entire amount of data received by nodes, they can use these hashes to determine which transactions included in the block, and even rebuild it.
Hierarchical deterministic key generation
Earlier nodes of the Bitcoin Core generates new key pair (public and private) for each address Bitcoin. It is advisable from the point of view of security, but it is not easy: there is always a risk of loss of the private key. To solve this problem, programmers Gregory Maxwell, and Peter Wolle, together with the developer of Armory, Alan Reiner developed a cryptographic technique BIP 32 hierarchical deterministic (HD) key generation. Method HD-generation allows you to create a new key pair for each new address from the same initial phrase, consisting of 12 words. Knowing the initial phrase, you can re-generate the keys to gain lost access to your bitcoin.
Recall that HD is the key generation is not a new solution in the world of bitcoin. Many wallets support this option for several years, but in the client of bitcoin until now, it was absent.
And, of course, Bitcoin Core 0.13.0 contains an impressive list of updates in the field of maintenance and security.
Source- https://bitcoincore.org