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I have tried to restore my wallet by replacing wallet.dat with my file, but the issue is that Bitcoin Core started synchronizing from 8 years again. Can some one help me to avoid this because I frequently format my system. So, is there any way to avoid needing to repeat the synchronization?

I have tried -rescan too but it did not work. :( It shows my transaction history but does not show my balance for which I assume the sync needs to finish.

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The only way to avoid a full resync is to make sure your backup contains the blockchain as it was when you made the backup; not just your wallet.

Then the core should only need to update with any more recent transactions.

Here is a good article on the subject: http://bitzuma.com/posts/moving-the-bitcoin-core-data-directory/

And here it is from the Wiki: https://en.bitcoin.it/wiki/Data_directory

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