Today, Bitcoin Association has released the latest update to the BSV node software with version 1.0.11. The update was developed by the BSV blockchain Infrastructure Team and includes a number of new changes aimed at improving the scalability and efficiency of the BSV blockchain (BSV) network.
The changes included in version 1.0.11 of the BSV node software comprise the following:
- Changed ‘blockmintxfee’ option name
- Disabled Bloom Filters by default
- Removed dust relay fee, dust limit factor and ‘minrelaytxfee’ options
These changes to the BSV node software bring the network more in line with the original vision of Bitcoin as a scalable for peer-to-peer digital payments and data transactions.
Thanks to its unlimited block size, the BSV blockchain offers the only public blockchain capable of scaling to meet the needs of enterprise-grade applications while maintaining low transaction fees, high data throughput and support for NFTs and complex smart contracts.
The latest version of the BSV node software can be downloaded here.
Changed ‘blockmintxfee’ to ‘minminingtxfee’
The ‘blockmintxfee’ parameter in the node software has been removed and replaced by a new ‘minminingtxfee’ option, which is a mandatory setting.
If miners would like to retain the default value of 500 Satoshis, they should configure the new option as follows:
‘-minminingtxfee=0.00000500’
Disabled bloom filters by default
Filtering transactions based on bloom filters on the P2P interface has historically been used to reduce the amount of data received from mining nodes operating on the BSV network. This is inconsistent with the scalability provided by BSV blockchain, which offers far more efficient scaling solutions through SPV, and should not be used.
Bloom filters have therefore been disabled by default. To re-enable this feature, node operators can set the option ‘-peerbloomfilters’.
Removed ‘dustrelayfee’, ‘dustlimitfactor’ and ‘minrelaytxfee’
The ‘dustrelayfee’ and ‘dustlimitfactor’ options have been removed in the latest version of the BSV node software, with the dust threshold now being hardcoded to one Satoshi per transaction output.
The term ‘dust’ refers to very small amounts left in transaction outputs, which makes these transactions difficult to process outside of a dust consolidation transaction.
It is important to note that blockchains which contain transactions that have dust outputs (outputs with a zero-Satoshi value) will still be accepted.
The static ‘minrelaytxfee’ option has also been removed in favour of a dynamic rejection fee algorithm. This means the mempool will automatically reject incoming low-fee transactions based on this algorithm.
Attempting to set any of these removed options will have no effect other than generating a warning message in the software’s logs.
Full details of today’s BSV node software release can be found on BitcoinSV.io