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Bitcoin network would witness an enhanced transaction privacy

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Bitcoin, the  first cryptocurrency that was established in 2009 has been growing continuously. The project is witnessing mainstream adoption and integrating more utility. Recently it has been unveiled that the network would soon see a major core update in April 2022. According to few reports it is announced that the network upgrade would bring enhanced transaction privacy to allow for recurring payments without a third party. The news revealed that the first RC version 23 was released on GitHub.

Bitcoin network will soon see an upgrade

The first RC version (v23) is now released on GitHub. According to the release, it is noted that Bitcoiners would soon see a major core update in April 2022. However, exact details around the upcoming major release is yet to be revealed. There are indications that the upgrade would bring enhanced transaction privacy to enable recurring payments without any mediator.

The BTC blockchain seldom faces such drastic changes. However, the scenario has demonstrated that it is still developing. Even if the network is progressing, many new features are yet to be implemented.

Core is essential to support updates

Notably, the Bitcoin Core is the source code’s reference implementation, which means that all other implementations seek Core for guidance. Last year in September the Bitcoin 22.0 was released to replace the previous version . The upgrade introduced several improvements to the software. Moreover, it was the first major release to support the Taproot protocol upgrade which was launched in November.

Prices in the crypto market lost momentum

Due to war tension global markets have lost momentum, while facing severe selling pressure. The total crypto market capitalization shrunks by billions within just 24-hours. According to data, it is noted that at press time the total market cap is down by more than 40% from the November peak of nearly $3 trillion.

Besides, the price of the leading digital asset has also slipped to lows of $40,800 on Friday. The overall market sentiment shows that the bears might be back in the driver’s seat. Later the price of BTC managed to stage an impressive price recovery and ended up reclaiming the $45k level for the first time.

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