Bitcoin developers have released a new version: Bitcoin Core 28.0. This is an important update, and that is good news for the security of the network.
But before you worry: as a BLOX user you don’t have to do anything. This is all neatly arranged in the background, so that you can continue trading without hassle.
What exactly is Bitcoin Core?
Just take a step back. Bitcoin Core is the software used to keep the Bitcoin network running. It ensures that the transactions are correct and that everyone sees the same version of the blockchain. Most Bitcoin nodes run on this software, and by nodes we mean the computers that support the network.
What’s new in Bitcoin Core 28.0?
Improvements are made with every update. In version 28.0, a number of bugs have been resolved and security has been significantly tightened. This was desperately needed, because a vulnerability had been discovered in approximately one in six Bitcoin nodes. Adversaries could attack these nodes with so-called DoS attacks (which stands for ‘Denial of Service’). This means the node was overloaded with information, causing it to crash.
The new update has addressed that problem and the nodes are now better protected against these types of attacks. An additional advantage of this version is that it is now easier for advanced users to check and compile the software themselves. This contributes to more trust and transparency within the Bitcoin community.
Does the update affect the Bitcoin price?
At this time, we see no direct impact on the price of Bitcoin from this update. Actually, we never see that, the general public is more concerned with graphs and macroeconomic events than with technology.
Bitcoin is currently hovering around 55 thousand euros, which is a drop of more than 5% in the past week. This is partly due to economic developments, such as the recent interest rate cut by the American central bank.
After that interest rate cut, the Bitcoin price shot up, but then fell back slightly. At the beginning of this week there was a lot of unrest on the markets due to Israel and Iran.
Although the update is not immediately visible in the price, it could have a positive impact in the long term, especially if investors start to see the value of the improved security.