Bitcoin has become increasingly popular since its inception. The user base has grown to over 109 million users. Apart from the financial and investment benefits, the popularity of Bitcoin is also rooted in its structure. Specifically, Bitcoin provides a decentralized network that is more secure than the centralized one common with fiat currency.
Bitcoin’s decentralized system means that no single entity has control over it. Instead, the decentralized system includes multiple entities participating. Apart from the users, other participants include the miners and the nodes. Each of these has a specific role in the Bitcoin system.
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Understanding a Bitcoin Node
Bitcoin uses blockchain technology. Blockchain is like a decentralized digital ledger shared and independently kept on many computers worldwide. Each computer in the network has its copy of the complete blockchain. Moreover, every computer validates every block or transaction before adding it to the blockchain. These computers are the Bitcoin nodes.
Each computer that maintains its copy of the entire Bitcoin blockchain is a node. Apart from storage, a Bitcoin node will validate and update blocks and transactions on the blockchain. Many nodes that constantly communicate safeguard and sustain the Bitcoin blockchain.
Essential Tips for Running a Bitcoin Node
Anyone can run a Bitcoin node. But to excel in it, here are some tips to keep in mind.
Select Good Computer
One of the essential tips for running a Bitcoin node is selecting a good computer. Go for the latest, fastest, and most convenient computers with enough storage space. While you may not need a supercomputer, you will need a machine that can handle the operations and store the data in the blockchain.
For a start, you may consider a computer with the latest versions of operating systems with at least 200GB of disk space and 4GR of RAM. Also, ensure that the computer is fast enough to support the constant operations on the network. Apart from the computer, ensure you have a high-speed internet connection and an undisrupted power supply.
Get the Latest Version of Bitcoin Core
Find the latest version of Bitcoin Core and install it based on the operating system you will be using. Follow the steps keenly for proper installation and check whether it is successful. It is vital to get the latest version of the program because this will tend to have the latest features and enhanced security. Don’t just go for an old program version because it is easy to find or you have used it before.
Choose The Appropriate Type of Node
Bitcoin nodes come in two basic types- full and light nodes. The complete node program provides complete validation of the blocks and transactions. However, it requires high download and upload capacities and storage space. The full node is appropriate for you if you have a computer with all these features.
You may want to use the light node when your computer cannot support a full node. Unlike the full node, the light node does not validate or store all blocks and transactions on the Bitcoin blockchain. Instead, they rely on full nodes to function correctly. A light node does not require enormous storage capacities or high download and upload speeds.
Conclusion
Running a Bitcoin node can be smoother if you ensure that you understand the basics. Also, conduct ongoing research to stay up-to-date with the latest developments in the crypto industry.
