Why do we need updates concerning Bitcoin clients?
Bitcoin has many controversies revolving around it, and so does Bitcoin Core Client. However, history has been evident that the one which is the most valuable is also the most controversial one. To keep up with the changing times, many upgradations have been done to the Bitcoin skeleton. Many updates regarding the Bitcoin transactions. size of the Bitcoin blocks etc, to keep the Bitcoin network viable enough to be used.
What is Bitcoin Core client?
A Bitcoin client is a node which is required by every user who wishes to join the Bitcoin network. He or she is enabled to initiate transactions on the network as the client provides a Bitcoin wallet. There are various versions of Bitcoin clients which have been developed until now, and Bitcoin Core is the third in the list. Initially designed by Wladimir van der Laan, it requires the availability of the entire Bitcoin ledger to use its services which approximately accounts to 155 GB. However, this particular Bitcoin client has been under constant controversies for various reasons, since its inception.
Hardships faced by the Bitcoin Core client
Bitcoin core client was initially known as just Bitcoin. To avoid confusion, its developer decided to rename it as Bitcoin Core, but he faced a lot of criticism as people believed that this was against the idea of decentralization. Nevertheless, many Bitcoin enthusiasts supported the idea. Although Bitcoin Core governs the consensus rules of the Bitcoin network, it is not as powerful as it seems. One can very quickly shift to other Bitcoin repositories if the client becomes inefficient. This was evident when many Bitcoin enthusiasts, slipped from Bitcoin Core to Bitcoin UASF, in 2017 during the block size war.
Bitcoin Bitmex Research to dethrone Bitcoin core client
Bitmex has come up with a unique idea of initiating a dedicated Bitcoin client to compete with the Bitcoin Core. In their official blog post, the company also explicitly mentioned that it was solely doing it to eradicate the belief from the minds of people that Bitcoin Core controls the Bitcoin network. Specifically, it is a soft fork of the Bitcoin Core implementation. Therefore, the users need not worry about, the Bitcoin Core getting tampered, as subsequent improvements can be initiated with the new Bitcoin Bitmex research. Bitcoin Core client was considered as an excellent influencing authority which controls the market price of Bitcoin, but it is the end users to manage the Bitcoin network as designed by Satoshi Nakamoto.
Lethargic attitude of developers of the Bitcoin Core client
The Bitcoin Core client is highly inefficient as the network requires the synchronization of the entire blockchain, which is enormous. Therefore, many users have been complaining in this particular regard, as it took some of them, days together to complete the process. More recently in September 2018, the Bitcoin Core client was once again in the LimeLight for it’s a critical bug which was discovered two years back, in November 2016. The problem was so delicate that would have led to a complete crash of a particular node if left unchanged. The developers took the matter seriously only now, and have updated the version by fixing the bug, from versions 0.14 to 0.16.3.
Bitcoin Bitmex research would be there to serve people
The Bitcoin Core client has always been in the news for its controversies or bottlenecks. Therefore, it is a fantastic step taken by Bitmex which has recently announced to release a dedicated client, Bitcoin Bitmex Research. This would be a great sigh of relief, as the customers would be less vulnerable to illicit activities that happen in the Crypto space leading to the losses of funds. Therefore, for the people who are looking forward to the Bitcoin Bitmex research client, some amount of patience is inevitable, as developers are still in the process of developing it.
