Bitcoin Core 0.20.1 released, Mining Fees are Rising and 1 Million Active Addresses
1 Million Active Bitcoin Addresses
According to data from Glassnode, the amount of active Bitcoin addresses reached the 1 million (based on a 7-day average).
The last time we saw so much activity was in 2018. The record is set at 1,3 million, which was a result of the bull market from 2017. Back then, Bitcoin set an all-time-high.
Everyone can generate key pairs. Such a key pair consists of a private and a public key. And from this public key these addresses can be derived. There are three different kind of addresses:
- Bech32, starting with bc1;
- Pay to Script Hash, starting with a 3
- Pay to Public Key (Hash), starting with a 1.
Bitcoin Core Update 0.20.1
Last saturday, the new version of the Bitcoin Core client is released. Version 0.20.1 is a smaller update than the previous one, but it has key changes regarding so-called “discouraged nodes.”
According to the release notes, the biggest changes pertain to “misbehaving peers,” or users that send invalid blocks. With Bitcoin Core 0.20.1, these users are not banned but they are labeled as “discouraged nodes” in log output, meaning the network is less likely to interact with them.
Incoming connections from discouraged nodes are still permitted, however, but they’re more likely to be banned.
Saturday’s 0.20.1 version also fixes a notifications bug that has been in effect since the release of Bitcoin Core 0.19. The ‘walletnotify’ notifications are now sent for wallet transactions that are removed from the mempool because they conflict with a new block.”
While the previous version of Bitcoin Core had 119 contributors listed, this update’s release notes credit just 13 direct contributors — a drop caused by the drastically lower number of entries in the change log.
Bitcoin Mining Fees
Data from Coin Metrics and Coindesk Research shows that transaction costs are rising and the volume on the network spikes as well.
This has of course to do with the higher Bitcoin price. A large part of the transactions on the Bitcoin network are trading-related.
BTC miners jointly turned over $ 300 million in revenue last month. In June, total sales were still $ 281 million. It is the first turnover growth since April this year, according to the overview below.
In absolute terms, all miners together have earned $ 25 million in transaction fees. If we compare that to the total of the block reward, the share of fees is over 8.3%.
Give us a call on +31 85 2250 510 or email us at email@example.com. Our members of staff are available between 9.00–18.00 CET to answer any questions you may have, especially in regards to easily selling your crypto for fiat currencies.