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Litecoin Core v0.16.0 Release

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Adrian Gallagher

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We are pleased to release Litecoin Core 0.16.0 release. This is a new major version release, including new features, various bugfixes and performance improvements, as well as updated translations. It is reccomended for all users to upgrade to this version.

Segwit Wallet

Litecoin Core 0.16.0 introduces full support for segwit in the wallet and user interfaces. A new -addresstype argument has been added, which supports legacy, p2sh-segwit (default), and bech32 addresses. It controls what kind of addresses are produced by getnewaddress, getaccountaddress, and createmultisigaddress. A -changetype argument has also been added, with the same options, and by default equal to -addresstype, to control which kind of change is used.

A new address_type parameter has been added to the getnewaddress and addmultisigaddress RPCs to specify which type of address to generate. A change_type argument has been added to the fundrawtransaction RPC to override the -changetype argument for specific transactions.

  • All segwit addresses created through getnewaddress or *multisig RPCs explicitly get their redeemscripts added to the wallet file. This means that downgrading after creating a segwit address will work, as long as the wallet file is up to date.
  • All segwit keys in the wallet get an implicit redeemscript added without it being written to the file. This means recovery of an old backup will work as long as you use new software.
  • All keypool keys that are seen used in transactions explicitly get their redeemscripts added to the wallet files. This means that downgrading after recovering from a backup that includes a segwit address will work

Note that some RPCs do not yet support segwit addresses. Notably, signmessage/verifymessage doesn’t support segwit addresses, nor does importmulti at this time. Support for segwit in those RPCs will continue to be added in future versions.

P2WPKH change outputs are now used by default if any destination in the transaction is a P2WPKH or P2WSH output. This is done to ensure the change output is as indistinguishable from the other outputs as possible in either case.

BIP173 (Bech32) Address support (“ltc1…” addresses)

Full support for native segwit addresses (BIP173 / Bech32) has now been added. This includes the ability to send to BIP173 addresses (including non-v0 ones), and generating these addresses (including as default new addresses, see above).

A checkbox has been added to the GUI to select whether a Bech32 address or P2SH-wrapped address should be generated when using segwit addresses. When launched with -addresstype=bech32 it is checked by default. When launched with -addresstype=legacy it is unchecked and disabled.

HD-wallets by default

Due to a backward-incompatible change in the wallet database, wallets created with version 0.16.0 will be rejected by previous versions. Also, version 0.16.0 will only create hierarchical deterministic (HD) wallets. Note that this only applies to new wallets; wallets made with previous versions will not be upgraded to be HD.

Wallets directory configuration (-walletdir)

Litecoin Core now has more flexibility in where the wallets directory can be located. Previously wallet database files were stored at the top level of the litecoin data directory. The behavior is now the following:

  • For new installations (where the data directory doesn’t already exist), wallets will now be stored in a new wallets/subdirectory inside the data directory by default.
  • For existing nodes (where the data directory already exists), wallets will be stored in the data directory root by default. If a wallets/ subdirectory already exists in the data directory root, then wallets will be stored in the wallets/ subdirectory by default.
  • The location of the wallets directory can be overridden by specifying a -walletdir=<path> option where <path> can be an absolute path to a directory or directory symlink.

Care should be taken when choosing the wallets directory location as funds may be lost if it becomes unavailable during operation.

The minimum version of the GCC compiler required to compile Litecoin Core is now 4.8. No effort will be made to support older versions of GCC. See discussion in issue #11732 for more information. The minimum version for the Clang compiler is still 3.3. Other minimum dependency versions can be found in doc/dependencies.md in the repository.

Pruned nodes can now signal BIP159’s NODE_NETWORK_LIMITED using service bits, in preparation for full BIP159 support in later versions. This would allow pruned nodes to serve the most recent blocks. However, the current change does not yet include support for connecting to these pruned peers.

The SHA256 hashing optimizations for architectures supporting SSE4, which lead to ~50% speedups in SHA256 on supported hardware (~5% faster synchronization and block validation), have now been enabled by default. In previous versions they were enabled using the --enable-experimental-asm flag when building, but are now the default and no longer deemed experimental.

  • The option to reuse a previous address has now been removed. This was justified by the need to “resend” an invoice. But now that we have the request history, that need should be gone.
  • Support for searching by TXID has been added, rather than just address and label.
  • A “Use available balance” option has been added to the send coins dialog, to add the remaining available wallet balance to a transaction output.
  • A toggle for unblinding the password fields on the password dialog has been added.

New rescanblockchain RPC

A new RPC rescanblockchain has been added to manually invoke a blockchain rescan. The RPC supports start and end-height arguments for the rescan, and can be used in a multiwallet environment to rescan the blockchain at runtime.

New savemempool RPC

A new savemempool RPC has been added which allows the current mempool to be saved to disk at any time to avoid it being lost due to crashes / power loss.

Safe mode disabled by default

Safe mode is now disabled by default and must be manually enabled (with -disablesafemode=0) if you wish to use it. Safe mode is a feature that disables a subset of RPC calls – mostly related to the wallet and sending – automatically in case certain problem conditions with the network are detected. However, developers have come to regard these checks as not reliable enough to act on automatically. Even with safe mode disabled, they will still cause warnings in the warnings field of the getneworkinfo RPC and launch the -alertnotify command.

Renamed script for creating JSON-RPC credentials

The share/rpcuser/rpcuser.py script was renamed to share/rpcauth/rpcauth.py. This script can be used to create rpcauthcredentials for a JSON-RPC user.

Validateaddress improvements

The validateaddress RPC output has been extended with a few new fields, and support for segwit addresses (both P2SH and Bech32). Specifically:

  • A new field iswitness is True for P2WPKH and P2WSH addresses (“ltc1…” addresses), but not for P2SH-wrapped segwit addresses (see below).
  • The existing field isscript will now also report True for P2WSH addresses.
  • A new field embedded is present for all script addresses where the script is known and matches something that can be interpreted as a known address. This is particularly true for P2SH-P2WPKH and P2SH-P2WSH addresses. The value for embedded includes much of the information validateaddress would report if invoked directly on the embedded address.
  • For multisig scripts a new pubkeys field was added that reports the full public keys involved in the script (if known). This is a replacement for the existing addresses field (which reports the same information but encoded as P2PKH addresses), represented in a more useful and less confusing way. The addresses field remains present for non-segwit addresses for backward compatibility.
  • For all single-key addresses with known key (even when wrapped in P2SH or P2WSH), the pubkey field will be present. In particular, this means that invoking validateaddress on the output of getnewaddress will always report the pubkey, even when the address type is P2SH-P2WPKH.
  • The deprecated RPC getinfo was removed. It is recommended that the more specific RPCs are used:
  • getblockchaininfo
  • getnetworkinfo
  • getwalletinfo
  • getmininginfo
  • The wallet RPC getreceivedbyaddress will return an error if called with an address not in the wallet.
  • The wallet RPC addwitnessaddress was deprecated and will be removed in version 0.17, set the address_type argument of getnewaddress, or option -addresstype=[bech32|p2sh-segwit] instead.
  • dumpwallet now includes hex-encoded scripts from the wallet in the dumpfile, and importwallet now imports these scripts, but corresponding addresses may not be added correctly or a manual rescan may be required to find relevant transactions.
  • The RPC getblockchaininfo now includes an errors field.
  • A new blockhash parameter has been added to the getrawtransaction RPC which allows for a raw transaction to be fetched from a specific block if known, even without -txindex enabled.
  • The decoderawtransaction and fundrawtransaction RPCs now have optional iswitness parameters to override the heuristic witness checks if necessary.
  • The walletpassphrase timeout is now clamped to 2^30 seconds.
  • Using addresses with the createmultisig RPC is now deprecated, and will be removed in a later version. Public keys should be used instead.
  • Blockchain rescans now no longer lock the wallet for the entire rescan process, so other RPCs can now be used at the same time (although results of balances / transactions may be incorrect or incomplete until the rescan is complete).
  • The logging RPC has now been made public rather than hidden.
  • An initialblockdownload boolean has been added to the getblockchaininfo RPC to indicate whether the node is currently in IBD or not.
  • minrelaytxfee is now included in the output of getmempoolinfo
  • -debuglogfile=<file> can be used to specify an alternative debug logging file.
  • litecoin-cli now has an -stdinrpcpass option to allow the RPC password to be read from standard input.
  • The -usehd option has been removed.
  • litecoin-cli now supports a new -getinfo flag which returns an output like that of the now-removed getinfo RPC.
  • The default regtest JSON-RPC port has been changed to 19443 to avoid conflict with testnet’s default of 19332.
  • Segwit is now always active in regtest mode by default. Thus, if you upgrade a regtest node you will need to either -reindex or use the old rules by adding vbparams=segwit:0:999999999999 to your regtest litecoin.conf. Failure to do this will result in a CheckBlockIndex() assertion failure that will look like: Assertion `(pindexFirstNeverProcessed != nullptr) == (pindex->nChainTx == 0)’ failed.

To download, please visit the download page here. Alternatively, you can view the download folder here.

Please use GPG to verify the integrity of the release binaries. This ensures that the binary you have downloaded has not been tampered with. Linux, MacOS and Win32 cygwin command line GPG instructions are available here. Please also note that we GPG sign the binaries as a convenience to you, the ultimate way to verify the integrity of the builds is to build them yourself using Gitian. Instructions on how to perform these builds, can be found here.

For this release, the binaries have been signed with key identifier FE3348877809386C (thrasher’s key).

Despite this version being heavily tested, this version may still contain bugs. Always backup your wallet.dat file before upgrading. If you encounter any issues, please let us know by posting to the bug reporting section below.

The master branch contains the latest commits to the next stable releases of Litecoin Core.

Build instructions for Linux can be found here.

Build instructions for OSX can be found here.

Builds instructions for Windows can be found here.

Submit any issues you encounter here and one of the Litecoin developers will assist you.

Sign up for announcements only or development discussion.

These are the SHA-256 hashes of the released files:

108db1106539f48d3221420d14219177c81019b10b751fa923fe2b2376fe25eb litecoin-0.16.0-aarch64-linux-gnu.tar.gz
e49f8fba90e5c87000d0c8a91ddc305e3cfd3e34861f678f9220337db5fe79db litecoin-0.16.0-arm-linux-gnueabihf.tar.gz
edda17bdbcba596149cd94d9aa58e5d7975955a94ca9eac30892cbdeaea40ea8 litecoin-0.16.0-i686-pc-linux-gnu.tar.gz
d068934a905c3a15a3b32684751f68d7d46e8ce7a540436563659ef8ee4784f1 litecoin-0.16.0-osx64.tar.gz
e33fab8afa3c03eabcd958f4f7c2a4fdfdaf1f65eff7a861135e19fbc68423ad litecoin-0.16.0-osx.dmg
93b451d180b2c60495595df00c303de6b8e135187d0d77bd542b9df917f50286 litecoin-0.16.0-osx.dmg.old
ee13921d34a5fa0c38ca6660514b1ae20f8d66ff366497a3368c7449ab6be541 litecoin-0.16.0.tar.gz
21718c1a60e66fdf55f8d0be0601fa5e7ed7c60bc74e1f08f6e8a470cc2859cd litecoin-0.16.0-win32-setup.exe
ae3294a61ddf41744166e35c4f564478a31dd4895f31cdcda7cf9f5e0cb94048 litecoin-0.16.0-win32.zip
629a4133cd6870562915df1da13a3600d559f5c0d3878eb00a4c1e925f4b9cf1 litecoin-0.16.0-win64-setup.exe
dd0317dde21ad89bbb6cd2d3b089362a12ebb5d65367147f7c96c465f03095c6 litecoin-0.16.0-win64.zip
5a1dfaea8d70f4d0d61190061631d6ad40cb3662e7718660000c43f564c348e6 litecoin-0.16.0-x86_64-linux-gnu.tar.gz

Thanks to everyone who directly contributed to this release:

  • The Bitcoin Core Developers
  • Adrian Gallagher
  • aunyks
  • coblee
  • cryptonexii
  • gabrieldov
  • Martin Smith
  • NeMO84
  • ppm0
  • romanornr
  • shaolinfry
  • spl0i7
  • stedwms
  • ultragtx
  • VKoskiv
  • voidmain
  • wbsmolen
  • xinxi

Source: https://blog.litecoin.org/litecoin-core-v0-16-0-release-5bf9b732b069?source=rss—-d41bceeb173b—4

Blockchain

‘Bitcoin maxis’ like Solana, but is there sound logic to that

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Recent changes in cryptocurrency market dynamics have fueled the popularity of altcoins like Solana [SOL]. It recently became one of the most trending blockchain platforms around on the back of its surging price.

The cryptocurrency, in fact, had a 1-year ROI of over 4,200%, despite dropping by 34% since its peak in early September. Despite the latest hiccup in value, however, market observers believe the project has managed “winning over a significant number of Bitcoin Maxis or near-maxis.”

Ikigai Funds’ Travis Kling offered this observation on Twitter when he said,

“After talking to a bunch of folks over the last couple months, it’s pretty clear that SOL is successfully winning over a significant number of BTC Maxis or near-maxis, which have previously owned zero ETH or very little ETH.”

While the crypto-space is competitive, the tech-twist to the age-old saying – “competition of your competition is your ally” also holds true. Solana is not competing with Bitcoin. Instead, it is competing with Ethereum’s position in decentralized finance, NFTs, and smart contract offerings. Given the fact that transacting on Ethereum is still a pain for some users, Solana’s cheap and fast transactions provide a better alternative to many.

Solana’s DeFi projects recently crossed $3 billion, despite Ethereum hosting the maximum number of DeFi and NFT projects. While Bitcoin “maxis” are also opting-in for smart contracts, they prefer SOL over ETH, according to Kling.

Why? According to the exec,

“I think maxis look at ETH vs SOL and think –

Well as long as its not going to be all that decentralized, might as well have a smart contract platform that can actually handle enough throughput with cheap enough fees where it can really scale, instead getting choked up like ETH.”

However, not everyone agrees with Kling’s opinions. Many believe the decentralization narrative to be wrongly used by Kling, with another Twitter user @mikemcg0 noting that Ethereum is “more decentralized than BTC.” Anyone can run an Ethereum validator,” he said, “but only a select few oligopolies can mine BTC.”

Even so, Bitcoin mining has spread out even more after the recent China crackdown. Although the process is extensive in terms of effort, time, and money, according to another user, “anyone can” mine BTC “if they have the entrepreneurial mindset.”

Now, the latest outage faced by Solana did raise questions about the level of centralization. However, that has not really discouraged those who want to indulge in DeFi, NFTs, and smart contracts. As Solana forges new contracts with Hacken Foundation and Gate.io, others institutions like Osprey Funds and Grayscale are in a race to include Solana in their respective bouquet of products.

In fact, Osprey Funds has already registered Osprey Solana Trust with the SEC.

‘Ethereum killer’ or not, Solana is en route to gaining more interest from the booming crypto-market. Even turning so-called BTC maxis in the process.

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Source: https://ambcrypto.com/bitcoin-maxis-like-solana-but-is-there-sound-logic-to-that

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‘Rich Dad’ Author Robert Kiyosaki Predicts ‘Giant Stock Market Crash’, Keeps HODLing Bitcoin

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The highly successful author behind the “Rich Dad Poor Dad” series of personal finance books, Robert Kiyosaki, has predicted a “giant stock market crash” is coming in October, and while he noted the price of bitcoin may crash too, he is not selling his BTC holdings.

According to a tweet Kiyosaki published, the best-selling author believes that the stock market crash will take down with it not only equities but also the price of precious metals like gold and silver. Cryptocurrencies like bitcoin will also be affected, with cash being “best for picking up bargains after crash.”

The author added he will not be selling his gold, silver, or bitcoin, but maintains “lots of cash for life after stock market crash,” before noting he believes the stock market is currently dangerous for investors.

Kiyosaki has over 1.7 million followers on the microblogging platform, partly thanks to the success of his “Rich Dad Poor Dad” books. The main book of the series of one of the top 10 personal finance books of all time, “advocates the importance of financial literacy (financial education), financial independence and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing one’s financial intelligence (financial IQ) to improve one’s business and financial aptitude.”

The best-selling author has been predicting a stock market crash for some time now. In June, he recommended buying bitcoin ahead of what he believes was going to be the “biggest crash in world history.” The crash, he revealed, was coming after the “biggest bubble in world history” popped.

In August, he revealed BTC had the “greatest upside” while the value of the U.S. dollar was dropping. Earlier this year, the author said the price of bitcoin was “going to $1.2 million” in five years. Kiyosaki has also recently commented on China’s crackdown on cryptocurrency.

Per his words, China is “about to launch its Government crypto coin,” and as such outlawed cryptocurrency mining and trading to crackdown on privately issued competitors.

DISCLAIMER
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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Source: https://www.cryptoglobe.com/latest/2021/09/rich-dad-author-robert-kiyosaki-predicts-giant-stock-market-crash-keeps-hodling-bitcoin/

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Blockchain

Europe Now World’s Biggest Crypto Economy: Boasts Over $1T Worth of Transactions

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Central, Northern, and Western Europe (CNWE) has grown into the world’s largest cryptocurrency economy since July 2020. The region experienced a massive increase in trading activity since then– particularly in the DeFi space.

The European DeFi Boom

Data from Chainalysis shows that CNWE received over $1 trillion in cryptocurrency over the last year alone. This represents 25% of global trading activity. Furthermore, it is responsible for at least 25% of all crypto value received by other regions, including 34% of the value received in North America.

This makes the EU the most concentrated in the world in terms of cryptocurrency trading volume. This is partially due to increases in all forms of trading activity over the past year, coming mostly from institutional investors.

Large institutional transaction value grew from $1.4B in July 2020 to $46.3B in June 2021, coming to take up half of all CNWE trading activity. The most pronounced increases were seen on DeFi protocols, where over 80% of these large institutional transactions were sent in June.

The impact of DeFi is further established when ranking coins in terms of transaction activity in the region. Despite being the largest cryptocurrency by market cap, Bitcoin heavily trails Ethereum in transaction volume among large institutional investors. Additionally, DeFi protocols took up a majority share of funds received by cryptocurrency services in CNWE in June 2021.


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The Decline in Eastern Asia

CNWE has seen significant absolute increases in its crypto trading volume. However, its new place as the world’s largest trading hub is partly due to a sharp decline in market share held by Eastern Asia– the previous world leader.

In early 2019 the region held over 30% of global transaction volume. This figure has since fallen sharply to about 15% – less than CNWE, North America, and even Central and Southern Asia.

This may be related to China’s continued push to prevent and discourage crypto trading within its borders. China re-announced their ban on crypto trading in the country days ago, and have been moving to prevent all access to exchanges within the country.

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Source: https://cryptopotato.com/europe-now-worlds-biggest-crypto-economy-boasts-over-1t-worth-of-transactions/

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