Bitcoin full nodes: what they are and how to install one of them

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privatefinance.biz

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What is a Bitcoin Full Node

The Bitcoin network is a collection of computers distributed around the world that run Bitcoin Core software designed to validate transactions and blocks.

It is the distribution of these nodes or “ nodes ” (the term used to describe a computer connected to a network), and the fact that anyone can install it on their own, that makes Bitcoin “ decentralized ”.

This means that anyone anywhere in the world can set up a Bitcoin node as long as they have access to a computer with enough power and an internet connection. And if at least one node is up, Bitcoin is alive.

Most nodes also act as Bitcoin clients, allowing their owners to send transactions to the network. This means that the node acts as your personal interface to interact with the Bitcoin network as a whole.

Running a node gives you the confidence that your bitcoin transactions will be confirmed and sent to the intended recipient.

If you want to learn more about how to speed up Bitcoin transactions, read the article  How to speed up Bitcoin transactions?

This gives you the ability to send uncensored money both across the world and across the street, and allows you to contribute to the security and strength of the Bitcoin network itself.

Node management is different from Bitcoin mining , which involves running special software that works to find or complete new blocks, with a certain amount of bitcoins being paid to the owners of the computers responsible for adding the block to the blockchain.

While bitcoin mining has become quite a resource-intensive task, and most of the work is done by large companies with entire data centers dedicated to this process, running a full node is available to everyone.

Okay, this is clear... Why should I run a full node

There are various reasons for installing it.

1. You believe in Bitcoin and want the network to grow and prosper. Each node added to the network brings us closer to a future where all transactions will take place on the Bitcoin network and no government or other outside organization can do anything to stop it.
2. You intend to use the Bitcoin network for a large number of transactions and want your transactions to be confirmed faster. The idea behind Bitcoin is to remove the principle of trust from the monetary system: you don't need to trust a bank to store or send money. But as long as you don't have your own node, you still have to trust someone running the node to get the transaction confirmed in a timely manner. By taking your financial life into your own hands, you will greatly expand your rights and opportunities.
3. You will be able to announce to all your friends that now you don't just have a certain amount of bitcoins, but you are Bitcoin ... at least in part.

Okay, you convinced me! How to install full node

At the moment, there are 3 ways to set up your own Bitcoin node, from quite technical and time-consuming to very simple, but more expensive.

As the development and mass adoption of Bitcoin technology continues, this process will only become easier and cheaper.

If you want to put all non-essential tasks aside and jump right into action, you can do it in one of the following ways

• Installing a node on your own computer (Raspberry Pi or any other machine with the necessary hardware).
• Or setting up a host in the cloud with a hosting provider such as Amazon Web Services, Digital Ocean, and any other providers.
• Or buying a standalone node-in-a-box device that will automatically set up the node (scroll down the page to learn about this option).

I'm ready, let's get to work

Although the first two methods are very similar, each has its own subtleties.

Choose equipment

The node must be installed on a computer that meets the following minimum hardware specifications.

Namely

• Latest version of macOS, Linux or Windows operating system.
• 145 GB of free disk space.
• 2 GB of RAM.
• High-speed Internet connection (at least 50 KB/s).
• Unlimited or very high upload/download limit (node ​​can send ~200 GB and receive ~20 GB per month).

If you decide to use the cloud and install a node on a virtual server, make sure the hardware you rent supports the same specifications.

The cheapest option we found is Scaleway, where you can get a machine powerful enough to run a node for around $8/month.

For this you must

• Go to https://www.scaleway.com/.
• Subscribe to tariff C1 (the most budget option).
• Add 3 50 GB partitions to make sure you have enough memory for the entire Bitcoin blockchain.

There are many other providers that can work with nodes, so use the one you like best.

Popular options are Digital Ocean and Amazon Web Services, but they cost a little more.

Note : Pay attention to the limits for bandwidth or data volume in the chosen cloud solution, as many providers limit the connection speed after a certain point.

Launch Settings

If you plan to run your node on a local machine, you can choose to use the Bitcoin Core software as a standard application (GUI or GUI) or through the command line as a background process.

If you are working in the cloud, you will most likely need to use the command line.

Do you want to use a program with a GUI

You prefer graphical interfaces. Wonderful!

Here's what you need to do

• Download the latest Bitcoin Core GUI from the bitcoin.org download page for your operating system.
• Run the program, after which you will see a prompt prompting you to select a directory for storing blockchain data. If you don't have any special preferences, check the " Use default directory " box and click " OK ".
• At this point, on Windows computers, you may get a firewall window asking you to allow Internet access for Bitcoin Core. Check all checkboxes and grant the required permissions.
• The program should start downloading the blockchain. It will take from 12 hours to several days depending on the speed and bandwidth of your Internet. Wait until the end and you are now officially a Bitcoin full node operator! See the Network Configuration section to give your host the access it needs to function properly.

Want to use the command line

So, do you like to stare at the terminal, or do you want to run Bitcoin Core in the background? Weird!

Do it like this

• To make this process easier, the earn.com (formerly 21.co) team has created an easy-to-use script that makes it easy to install a node via the command line!
• Open a command prompt (Windows) or terminal (macOS and Linux) and paste the following command:
  • curl https://bitnodes.earn.com/install-full-node.sh | sh
• Press Enter and you will see a welcome message (something like this):

(Welcome!

 You are about to install a full Bitcoin node based on Bitcoin Core v0.16.0.

 All files will be installed to the /users/jrisberg/bitcoin-core directory.

Your node will be configured to accept incoming connections from other nodes on the Bitcoin network using the uPnP feature on the router.

For security reasons, the wallet functionality is not activated by default.

After installation, it may take several hours for the node to download a complete copy of the blockchain. If you later want to uninstall Bitcoin Core, you can download this script and run "sh install-full-node.sh -u".)

• Let the process take its course! The script will download the Bitcoin Core software and attempt to set up port forwarding. If it cannot set up port forwarding automatically, you will see the following message:

(Bitcoin Core does not accept incoming connections on port 8333. You may need to set up port forwarding (https:/bitcoin.org/en/full-node#port-forwarding) on ​​your router.)

• You should also receive a success message! Your node is up and running. Go to the Network Configuration section to set everything up correctly for normal operation.

Network configuration

Whether you are configuring the node using a standard graphical program or via the command line, you will need to set up the network in order for the node to accurately receive information from the Bitcoin network and send it back.

You need to complete two tasks

1. Reserving a static IP address for a computer.
2. Setting up port forwarding.

Instead of describing the whole process, we'll let the great people at bitcoin.org take care of it for us.

Check out the official guide for step-by-step instructions on accessing the router and configuring it for proper node operation.

If you've set up a node in the cloud, this process can vary greatly depending on the service provider.

To get help, contact your specific provider's support or look on SuperUser (a Q&A site for this sort of thing).

So... how about a ready-made node " out of the box "

This is by far the easiest way to set up a full node. A simple plug-in box that you can plug into your internet router like a cable box.

This allows you to run a dedicated node without installing anything on your or any other computer. However, you still need to follow the network setup steps above!

It looks like the only project available at the moment is Bitseed.

Currently, Bitseed is quite expensive - about $360 - but according to the reviews, it works exactly as advertised and makes things a lot easier.

They will inevitably have competitors in the near future, so keep an eye on how this industry develops.

Profit

Once the software is running, the blockchain is fully synced, and if your network settings are correct, you're all set!

You are officially a full member of the Bitcoin network. Welcome to the future of finance.

Completion

• Bitcoin is powered by nodes.
• More nodes = stronger Bitcoin.
• You should definitely run a node. Or even two.

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