Litecoin [LTC] core v0.17.1 release candidate announced, introduces a newly created wallet format

Litecoin foundation has announced the release of the next version of Litecoin core called as v0.17.1 on March 6th. The news was announced on Litecoin’s blog by the foundation’s lead developer – Adrian Gallagher.

The new version brings a host of new features but the most important feature in the new core is a new wallet format.

New Wallet format

Litecoin’s wallet in the core gets a major upgrade. The new version of Litecoin features Dynamic Wallet creation. Previously wallets could only be loaded or created at the startup, but now in the new version, it is possible to load, create and unload wallets dynamically at runtime. The feature is only available through the RPC interface.

Fee Change Policy

Another new thing introduced in the new version is the lowering of the minimum transaction fee. The default minimum transaction fee -mintxfee has been lowered to 0.0001 LTC/kB after relaxing the minimum relay and dust relay fee rates in prior releases.

The ‘account’ functionality has been deprecated and has been replaced by the ‘label’ API. The complete list of improvements and new features can be found here.

Litecoin Core 0.17.1 is in the test version currently. There is a couple of knowns discussed which have to be fixed first. There is no definite timeline as of when the stable version will be released, but according to Litecoin’s blog after testing and passing various use cases v0.17.1 will be released.

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