Skip to main content

5 reasons to run a Bitcoin Full Node

 


Operating a Bitcoin Full Node has long been considered an altruistic act intended to serve a larger purpose - namely to support the network. What exactly does it mean to support the Bitcoin network with a full node and why there are also solid, selfish motives for setting up a node.

1. Only full node owners can be sure that they own BTC

Z and monetary sovereignty belongs also to subject its own BTC possession of a validation. Because anyone who trusts third parties such as wallet providers or even exchanges disregards the Bitcoin ethos of “ don't trust, verify ”. Only operators of BTC full nodes can rule out the associated uncertainties and be sure of their property.

So if you want to become a First Class Bitcoin Citizen, you can't avoid a Bitcoin Full Node.

2. Verify transactions

Point two ties in seamlessly with point one. Because only those who operate a hub can be sure that the payments received are actually Bitcoin. Full nodes enforce the BTC network rules and reject any transactions that violate them.

Anyone who owns Bitcoin implicitly gives their consent to the associated rules of consensus - full nodes enforce this consensus.

3. Network statistics

Setting up a Bitcoin hub is also a must for analysts. Because whoever has direct access to the blockchain - and that is exactly the core of Nodes, receives network data firsthand.

Average fees, hash rate, difficulty, size of the mempool - these are just a small selection of the enormous possibilities of scanning the blockchain for relevant data. Anyone who does not operate a full node is therefore dependent on third parties and has no way of checking the correctness of the data that has been launched.

4. Privacy

Satoshi Nakamoto wanted first and foremost to create apolitical hard money. As such, the limit of 21 million coins is at the core of the BTC protocol. The crux: All network participants must be able to verify compliance with the algorithmic monetary policy at any time - and this does not come without compromises.


The most prominent example is the loss of Bitcoin's privacy. Because if used completely anonymously, inflation bugs could remain undetected for a long time and thus threaten Bitcoin's value proposition at its core.

If Bitcoiners still want to achieve a certain level of anonymity, they should think about a full node. Because via centralized wallets such as Ledger or Trezor, Bitcoiners reveal all addresses and the respective BTC assets that are on them. Only those who generate BTC addresses themselves using the full nodes can take the first steps towards more private Bitcoin use .

5. Full nodes support the network

And yes, reason # 5 is actually altruistic. Because the more nodes are connected to the Bitcoin network, the more secure it is. Because as long as “honest” nodes can outvote attackers, Bitcoin is safe.

So if you operate a BTC hub out of the above-mentioned selfishness, you also ensure a more robust system.

In short: Operating a full node is the only way to use Bitcoin without the help of third parties. If you want monetary sovereignty, you have to set up a hub .

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
Upland - Collect Digital Properties & Test Your Skills
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

The 5 largest platforms for non-fungible token (NFT) collectibles

  Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day.  More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream.  But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token.  Any asset that is tokenizable can be an NFT.  This includes, for example, (digital) works of art, trading cards, game items and crypto domains.  Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain.  This allows them to store value just like real objects, even if additional copies are easy to make.  For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...
11 comments
Read more

CARDALONIA: THE CARDANO METAVERSE OPENS THE GATES!

  Have you ever been to Cardalonia? With these words, the Cardano Metaverse called Cardalonia starts the gates. In this 3D world, developers and users can interact with each other. First of all, users have to create an individual character with which they can move online. After that you can enter one of the worlds built by developers with this character. You can also purchase your own land in the Cardano Metaverse via the marketplaces in Cardalonia . This is secured by Cardano's blockchain technology and therefore offers a relatively secure transfer of ownership. Since these are only digital plots of land, it is not yet entirely clear when the plots of land are purchased whether they can also be sold again in the future. A possible profit cannot be estimated at the moment. In Cardalonia, the cryptocurrency Lonia is used. The maximum amount of tokens in circulation is 100,000,000. The team consists of Alice Sand (Co-Founder), Vasil Air (CTO) and Dustan Water (Fullstack Developer). T...
Post a Comment
Read more

Cardano: This is the vision that founder Charles Hoskinson has

  The Altcoin Cardano has tended to decline in recent weeks.  The Alonzo upgrade was supposed to bring improvements, but it soon turned out to be a disappointment.  Cardano founder Charles Hoskinson presented his vision for the cyber motto in a live Twitter video. • Cardano in the last few months under pressure • Charles Hoskinson explains his Cardano vision via Twitter • Security and privacy at the center The cryptocurrency  Cardano  has had a difficult few months.  While founder Charles Hoskinson's cyber motto has had a strong run in 2021, it has been steadily downhill in recent months.  Cardano is faced with some difficulties.  The so-called Alonzo upgrade went live in mid-September, for which crypto fans had high hopes, but which soon turned out to be a disappointment.  The upgrade should make it possible to use smart contracts on the cryptocurrency as well.  It soon turned out, however, that although these were entered into Cardano,...
Post a Comment
Read more