Version Handshake

On connect, version and verack messages are exchanged, in order to ensure compatibility between peers.

Version Handshake

When the local peer (L) connects to a remote peer (R), the remote peer will not send any data until it receives a version message.

L -> R: Send version message with the local peer's version
R -> L: Send version message back
R -> L: Send verack message
R:      Sets version to the minimum of the 2 versions
L -> R: Send verack message after receiving version message from R
L:      Sets version to the minimum of the 2 versions

Note: Versions below 31800 are no longer supported.