Bitcoin Classic Aims To Solve Transaction Malleability Issues

Posted By : Anirudh Bhardwaj | 23-Sep-2016

Bitcoin Classic 1.2

The Bitcoin Classic team has recently announced the beta release of its new upcoming version i.e Bitcoin Classic 1.2. The beta version of Bitcoin Classic 1.2 is now available on github and is said to have many notable changes, enhancements and several bugfixes. However, not all the features have been unveiled just yet. But it is said to be a major release and is expected to solve the transaction malleability issues prevalent in Bitcoin Classic. As the final release is heading closer, we’ll get to know about the other features in details. But as of now, only two vital changes have been unveiled by the Bitcoin Classic team. One of them is the FlexTrans feature which provides flexibility to the bitcoin transactions and solves the malleability issues. Let’s now talk about these features in details.

 

Also read Bitcoin Core Releases New Update.


 

Overcoming Malleability Issues

The forthcoming Bitcoin Classic release gives a special importance to the transaction flexibility. It introduces a new feature called FlexTrans (an acronym for flexible transactions) which is intended to solve the malleability issues in bitcoin classic by making transactions more flexible. FlexTrans is essentially a new transaction format that eliminates the need of segregated witness, thereby making bitcoin classic ready for future technologies such as the Lightning Network. Nevertheless, the FlexTrans won’t be supported on the main-net in this new release.

 

The senior software developer at Bitcoin Classic, Tom Zander explains that FlexTrans or FT feature enables you to remove signatures from a block after its validation. In this way, it has become extremely easy to remove the signatures which in general bring about 75 percent reduction in block size. So clearly, this feature will greatly help in increasing the scalability of the network, thereby paving ways for new applications.   


 

Extra Thin Blocks (Xthin-Blocks)

This is yet another feature brought to light by Tom Zander in a recent post on github. Xthin-Blocks or Extra-thin-blocks as they call it, is another major enhancement in Bitcoin Classic that focuses on solving block propagation delays. Whenever a new block is found, it sends only a small fraction of data and then rebuilds it from the memory pool of its node.


 

About The Previous Release

The previous or we can say the current version of Bitcoin Classic i.e Bitcoin Classic 1.1.1 brought several pivotal changes and bugfixes including the much needed extension in block size limit. So expectations are definitely high from the new version which is lined up for final release.

 

The Bitcoin Classic 1.1.1 increased the block size limit from 1 MB to 2 MB. Later on, the Bitcoin Classic team released the bigfix version of 1.1.1 including several bugfixes which improved the overall performance.

 

Days after that, they’ve released the first beta for the upcoming 1.2 release. The Bitcoin Classic 1.2 beta is available on github and is ready to be downloaded.  

 

About Author

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Anirudh Bhardwaj

Anirudh is a Content Strategist and Marketing Specialist who possess strong analytical skills and problem solving capabilities to tackle complex project tasks. Having considerable experience in the technology industry, he produces and proofreads insightful content on next-gen technologies like AI, blockchain, ERP, big data, IoT, and immersive AR/VR technologies. In addition to formulating content strategies for successful project execution, he has got ample experience in handling WordPress/PHP-based projects (delivering from scratch with UI/UX design, content, SEO, and quality assurance). Anirudh is proficient at using popular website tools like GTmetrix, Pagespeed Insights, ahrefs, GA3/GA4, Google Search Console, ChatGPT, Jira, Trello, Postman (API testing), and many more. Talking about the professional experience, he has worked on a range of projects including Wethio Blockchain, BlocEdu, NowCast, IT Savanna, Canine Concepts UK, and more.

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