- Bitcoin development activity was on a downward trend at the end of March.
- BTC reacted positively to the news of the upgrade, with gains of 1.03% at the time of writing.
The latest version of Bitcoin [BTC] Core, version 25.0, was issued on May 26, with a host of new features, bug fixes, and performance improvements.
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BTC reacted positively to the news of the upgrade, taking advantage of a 1.03% gain to trade at $26,712.55 at time of release, data from CoinMarketCap revealed.
What brings Bitcoin Core 25.0 to the table?
One of the most notable improvements was support for non-witness transactions of 65 bytes and more. This opened additional use cases of smaller transaction sizes and improved protection against CVE-2017-12842, a vulnerability discovered in an earlier version of Bitcoin Core.
In addition, new scan blocks remote procedure calls (RPCs) were introduced as part of the upgrade, allowing for fast rescans of the wallet. The RPC node is a type of computer server that allows users to read data on the blockchain and send transactions to various networks.
As for RPC updates, all JSON-RPC methods accept a new parameter called “args”, which makes it easier to pass certain parameter values.
Bitcoin Core is the original client software for the Bitcoin network. It allows users to set up their node on the blockchain and verify transactions sent by other users.
Bitcoin Core is an open-source software, so anyone can view and suggest upgrades. A single company or organization does not own it, but a global development community maintains and evaluates it.
Investors doubted
BTC development activity has been on a downward trend since late March, with a slight recovery over the past week, according to data from Santiment. Developer activity is a crucial indicator to measure the growth of a blockchain network’s potential. A dip may indicate that future improvements may be delayed, affecting network adoption.
After rising earlier this week, weighted sentiment for BTC dropped to neutral levels at the time of writing. This indicated that investors were not aligned with the view of a single market.
Source: Sentiment
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Is another wave of intense on-chain activity coming?
May 2023 has proven to be a record month for network traffic on Bitcoin. In particular, daily transactions rose to unprecedented levels. While traffic has slowed over the past two weeks, there were plenty of indications that Bitcoin was preparing for another wave of activity.
Daily active addresses hit a three-week high on May 26, according to Santiment. In addition, the number of daily transactions also increased.
Source: Sentiment
