New version of Bitcoin Core wallet software makes it easier to use

The Bitcoin Core development team recently announced the latest version 0.11.0, which includes some updates to the old version, making the Bitcoin Core wallet software easier to use and more adaptable to the needs of the current network.

This latest version of the Bitcoin Core software adds an important feature, namely the option to "slim down" the block files. Users can delete old data contained in past blocks without running the entire node. In this way, users no longer need to store the entire blockchain locally, but limit the number of blocks to the latest 550 blocks.

This feature is very beneficial for users who are short of hard disk space. Currently, the storage of the entire blockchain only requires 40GB, and the latest 550 blocks only require a maximum of 550MB. However, users cannot use this "block slimming" feature yet, but it will be available soon.

The latest version of the Bitcoin Core software also includes a fee prediction mechanism. This means that users can more accurately and quickly predict the transaction fees they will need to pay. How does the new version do this? It scans the entire memory pool, which is a pool of all unverified transactions, and the latest block of the blockchain will estimate how much transaction fees the next block will need to accept a transaction.

In light of a recent spam attack on the Bitcoin network, it may be possible that only genuine transactions can be added to blocks in the future, a mechanism that could help establish a market for operating fees.

Bitcoin Core 0.11.0 also includes improved privacy features, especially the ability to more effectively connect to the anonymous TOR network. If TOR is enabled, the new version of Bitcoin will use different TOR circuits to connect to different nodes instead of the same TOR circuit. This will reduce the risk of users connecting to a malicious node or being banned from the P2P network by decentralizing Bitcoin Core's connections.

Other changes include better user experience, memory usage, and improved privacy features for users.