So with the preamble done, let me next explain why it is important to run your own node: Reason 1 Your wallet can ask YOUR copy of the Bitcoin Blockchain (Making the digital connection between your wallet and node is the technically challenging and critical part, not just running the node an article for another day). It’s your own copy of Bitcoin Core, and you don’t need to trust other people. Running your own node means you don’t ask other people what their copy of Bitcoin Core is doing. It has to ask a Bitcoin Node, “Hey Mr Node, this address of mine, does it have any bitcoin in it?” - technically that’s not quite accurate, but this is sufficient for now. Your Bitcoin Wallet does not keep a copy of the blockchain, and is usually separate from Bitcoin Core (although Bitcoin Core does have a wallet feature). You then leave it on, and new blocks are received roughly every 10 minutes (containing transactions), and your node will check if the block is valid, and if so, add it to its copy of the blockchain.Ī dodgy block gets rejected, not because everyone else rejects it, and not because everyone copies their neighbour, but because the block is invalid according to the rules contained in the Bitcoin Core software, and everyone else that is running the same software will also reject that dodgy block. To run a node, you download Bitcoin Core software, and then let it copy the blockchain from another node, and your node verifies each block itself. ![]() It does not actually “trust” the connected node. The new node then independently checks that every transaction in the copy it receives is valid. Provide a copy of the blockchain to any new Node that wants to join. Provide details about the blockchain (such as balances) to other types of software that ask (eg wallets)ĥ. Check that all additions to the blockchain are valid, and reject those that are not valid.Ĥ. Connect with other Nodes, forming a network of communication, which propagates transactions (transactions are kept in a “mempool”, the queue of transactions waiting to be included in the blockchain)ģ. ![]() ![]() Keep a copy of the blockchain (one of many copies out there)Ģ. Let me explain quickly that a Bitcoin Node is a piece of software (Bitcoin Core) that has some important jobs…ġ.
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