Litecoin Core improvements

  • Litecoin Core is the Litecoin reference client. Featuring ‘full node’ capabilities to fully download and validate the Litecoin blockchain as well as the wallet functionality to manage transactions. Litecoin Core is the most feature rich client out there and contains all the protocol rules required for the Litecoin network to function. This client is used by mining pools, merchants, and services all over the world for its rock solid stability, feature, set, and security.

    Litecoin Core v0.13.x will be a major release featuring many protocol level improvements, code optimizations, the ability to roll out several soft forks at once, and the greatly anticipated segregated witness innovation. Some of the most notable features include:

    ● Faster signature validation using the libsecp256k library developed by Bitcoin Core developers.

    ● Wallet pruning to reduce block size storage.

    ● Memory usage improvements including better mempool filtering of transactions.

    ● Inbuilt Tor control socket API support if Tor is running and also stream isolation for Tor communication.

    ● Functionality to reduce upload traffic.

    ● Segregated Witness to allow for greater transaction output and mitigation of transaction malleability.

    ● ZMQ support – ZeroMQ is a high performance asynchronous messaging library,aimed at use in distributed concurrent connections. Litecoin will support ZMQ for broadcasting block and transaction data.

    ● Hierarchical Deterministic wallets – Litecoin Core will support hierarchical deterministic wallets also known as HD wallets.

    ● Obfuscated blockchain data – Several antivirus applications detect the Litecoin stored blockchain data as a malware threat. Litecoin v0.13 will obfuscate the blockchain data to rid these false positives. This update will also see the inclusion of several BIPs to prepare Litecoin for upcoming innovations to do with the Lightning Network and create/use more complex smart contracts.

    These include:

    ● BIP 9 – This BIP allows multiple soft fork changes to be deployed in parallel.

    ● BIP 32 – This BIP allows Litecoin Core to support hierarchical deterministic wallets.

    ● BIP 68 – This BIP allows relative locktime enforcement through sequence numbers.

    ● BIP 111 – This BIP extends BIP 37, connection Bloom filtering, by defining a service bit to allow peers to advertise that they support Bloom filters explicitly. It also bumps the protocol version to allow peers to identify old nodes which allow Bloom filtering of the connection despite lacking the new service bit.

    ● BIP 112 – This BIP is a proposal to redefine the semantics used in determining a time-locked transaction’s eligibility for inclusion in a block. The median of the last 11 blocks is used instead of the block’s timestamp, ensuring that it increases monotonically with each block.

    ● BIP 113 – This BIP describes a new opcode (CHECKSEQUENCEVERIFY) for the Litecoin scripting system. In combination with BIP 68, it allows execution pathways of a script to be restricted based on the age of the output being spent.

    ● BIP 130 – This BIP adds a new message, “sendheaders”, which indicates that a node prefers to receive new block announcements via a “headers” message rather than an “inv”.

    ● BIP 133 – This BIP adds a new message “feefilter”, which serves to instruct peers not to send “inv”s to the node for transactions with fees below the specified fee rate.

    ● BIP 141 – This BIP defines a new structure called a “witness” that is committed to blocks separated from the transaction Merkle tree.

    ● BIP 143 – This BIP contains the logic for signature verification for the version 0 witness program.

    ● BIP 144 – This BIP contains the logic for new messages and serialization formats for propagation of transactions and blocks committed to segregated witness structures.

    ● BIP 152 – This BIP adds compact block relay to reduce the bandwidth required to propagate new blocks.

    The Litecoin Core developers aim to have this version released by September/October. Litecoin shares the same P2SH address format as Bitcoin (addresses beginning with a 3). This has caused some confusion for Litecoin users. We will look into introducing a unique P2SH address prefix. Source – Roadmap (PDF)