Bitcoin Tech #2 - Nodes (Part 1) with Shinobi - WBD315
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 28 February 2021
⏱️ 66 minutes
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Summary
Location: Remotely Date: Tuesday 23rd Feb Company: Block Digest Role: Host
The core fundamental aspect of Bitcoin is its censorship-resistant nature; this is only possible because the network is meaningfully decentralized.
Decentralization is achieved by bitcoiners worldwide running nodes (a computer connected to the bitcoin network, e.g. Bitcoin Core).
These nodes maintain the network rules, known as consensus, and ensure all transactions and blocks are valid by keeping a copy of the entire history of the blockchain.
Aside from supporting the network, running a node helps improve your privacy and allows you to validate your transactions without requiring a 3rd party. If you are not running a full node, you cannot use the bitcoin network in a trustless way.
It is hard to know the exact number of nodes connected to the bitcoin network. However, Luke Dashjr estimates the number to be somewhere around 80,000.
In this interview, I talk to Shinobi, the host of Block Digest. We discuss what a node is, why running a node is crucial for the network, which hardware & software to use, and the impact on privacy.
Hosted on Acast. See acast.com/privacy for more information.
Transcript
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| 0:00.0 | The bank has the database that says who has all the money and how much money. |
| 0:08.0 | The special thing about Bitcoin is that everybody can run and verify that database themselves. |
| 0:15.0 | Hello there from Bedford, how you're doing? |
| 0:19.0 | You had a good week. |
| 0:21.0 | Welcome to the What Bit |
| 0:21.0 | Bitcoin did podcast, which is brought to you by the mighty |
| 0:24.0 | Quacken, the best place to buy itself and trade Bitcoin. |
| 0:27.0 | I'm your host Peter McCormack, and I've got a Sunday bonus release for you, as you know. |
| 0:32.0 | I'm going to be doing a monthly tech show with |
| 0:34.6 | our boy Shinobi and this week we are tackling nodes but this is going to be a |
| 0:39.0 | two-parter so I've got the first part today where I just dig into all the detail about NOS but I am in the |
| 0:44.8 | process of setting mine up. Anyway before we get into that let's hear from my |
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