Today, Bitcoin Association has released the latest update to the Bitcoin SV node software with version 1.0.11. The update was developed by the Bitcoin SV Infrastructure Team and includes a number of new changes aimed at improving the scalability and efficiency of the Bitcoin SV (BSV) network.

The changes included in version 1.0.11 of the Bitcoin SV 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 Bitcoin SV 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 Bitcoin SV 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 Bitcoin SV, 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 Bitcoin SV 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 Bitcoin SV node software release can be found on BitcoinSV.io

Jamie McKane
McKane