All you need to know about Bitcoin network nodes

Welcome to Hard Fork Basics, a collection of tips, tricks, guides, and advice to keep you up to date in the cryptocurrency and blockchain world. The Bitcoin BTC network is often touted as one of the most revolutionary forms of decentralized technology the world has ever seen. But for it to be decentralized, it needs a globally distributed network of connected computers or nodes. It sounds simple enough, but there isn’t one type of node, and each type has a different role to play in helping the blockchain network function correctly. In this article, we’re going to break down the different types of node and what they do. Know your nodes Generally speaking, a node is a piece of computer equipment attached to a network. In the context of the internet and your household, your phone is a node, your laptop is a node, your router is a node, and that wireless IP camera, yep, that’s a node too. Nodes can take many shapes, sizes, and forms. Each one plays a different – yet vital – role in the functioning of your household. In the case of the Bitcoin blockchain, there are four main types of node: full nodes, super nodes, light nodes, and mining nodes. Full, super, and light nodes perform similar functions, while mining nodes perform a different function entirely. Before diving into what these nodes are and what they do, it’s best to think of the blockchain is fundamentally a ledger or list of transactions – for this case at least. All types of nodes contribute in someway to building or maintaining that list. Mining Nodes There’s plenty written about what mining is and how it works, but for the sake of this article, think of mining nodes simply as the nodes that produce the blocks for
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Samsung Galaxy S10 Supports Only Ethereum, No Place for Bitcoin: Report – U.Today

📰 News Yuri Molchan Thu, 03/07/2019 – 06:17 📰 News 📱🤑⚙️The new Samsung Galaxy S10, which was reported to support Bitcoin, Ethereum and ERC20 based tokens, now reveals Ethereum support only Several weeks ago, reports came out that the new Samsung Galaxy S10 smartphone, otherwise named “Blockchain Keystore”, would enable users to keep private keys to wallets for various crypto coins – Bitcoin, Ethereum and possibly ERC20 tokens in the future. This was revealed at the Unpacked event hosted by the Korean electronics giant. An unexpected curve Photos and other details that reached the media later on said nothing new regarding the crypto coins the phone would support. However, now the early-release version studied by a Youtuber going by the name crypto-jorozu proves that the new smartphone supports only Ethereum, without the major BTC currency. Samsung Galaxy S10 crypto wallet appears to have left out Bitcoin at launch. For now it looks like it’s Ethereum-only! 😮https://t.co/j0eFmTphJY — CRN (@crn_maximizer) March 4, 2019 Recording a short video of around nine minutes, the Youtuber unpacks the phone. This proves to be a release for Korea, rather than an international one. On the phone itself he spotted only info about ETH transactions and showed in to his viewers. When crypto-jorozu started the Keystore app, he got a greeting with a BTC sign but still said that the software supports Ethereum only. Other mobile crypto phones reject BTC too Curiously, this is not the first time when wallet creators seem to have made their apps ETH-friendly without adding Bitcoin. E.g., the wallet built in the famous browser Opera supports nothing by ETH and ERC20 tokens based on this blockchain. This is most likely due to the fact that Opera is focused on Internet apps and Ethereum has much more to do with dApps than
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Security token offerings aren’t looking much better in 2019

An analysis of a year of liquidity and trading data Pressed to explain who is using them, and why, 99 percent of cryptocurrencies let out all their air, go flying around the room making a raspberry sound, hit the wall and fall behind the couch forever. The party is over. A few, however, can present a credible use case. “Tokenized securities” could be one of them: a more open and efficient way to transact shares and notes as well as distribute cash flows. Proponents of “security token offerings” (STOs) have been telling that story now for a little more than a year. This data report canvases the market, finds few are buying it, interviews market participants for perspective and reveals gaps in the use case at the ground level that explain its failure to thrive. In October 2017, the market for “initial coin offerings,” or ICOs, reached a peak, with more than 100 capital raises closing through the sale of crypto tokens, according to market data provider Token Data. Proponents thought these tokens were an innovation on par with the joint stock corporation: not a claim on cash flows, but a vessel to participate in and directly capture the value latent in network effects. “Tokenized” networks raising money that month ranged from the prosaic, like a no-fee crypto exchange called Cobinhood ($13.2 million), to the ludicrous, like Dentacoin, “the blockchain solution for the global dental industry” ($1.1 million). At the time, it was nearly unheard-of for such a project to acknowledge its token might be a security like the mundane stock certificate. In the following months, the US Securities and Exchange Commission (SEC) sent dozens of subpoenas to token issuers, indicating that they disagreed. By the following March, the number of SEC registrations for new token offerings equaled more than half
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ClassPass, Gfycat, StreetEasy hit in latest round of mass site hacks

In just a week, a single seller put close to 750 million records from 24 hacked sites up for sale. Now, the hacker has struck again. The hacker, whose identity isn’t known, began listing user data from several major websites — including MyFitnessPal, 500px and Coffee Meets Bagel, and more recently Houzz and Roll20 — earlier this week. This weekend, the hacker added a third round of data breaches — another eight sites, amounting to another 91 million user records — to their dark web marketplace. To date, the hacker has revealed breaches at 30 companies, totaling about 841 million records. According to the latest listings, the sites include 20 million accounts from Legendas.tv, OneBip, Storybird, and Jobandtalent, as well as eight million accounts at Gfycat, 1.5 million ClassPass accounts, 60 million Pizap accounts, and another one million StreetEasy property searching accounts. The hacker is selling the eight additional hacked sites for 2.6 bitcoin, or about $9,350. From the samples that TechCrunch has seen, the accounts include some variations of usernames and email addresses, names, locations by country and region, account creation dates, passwords hashed in various formats, and other account information. We haven’t found any financial data in the samples. Little is known about the hacker, and it remains unclear exactly how these sites were hacked. Ariel Ainhoren, research team leader at Israeli security firm IntSights, told TechCrunch this week that the hacker was likely using the same exploit to target each of the sites and dump the backend databases. “As most of these sites were not known breaches, it seems we’re dealing here with a hacker that did the hacks by himself, and not just someone who obtained it from somewhere else and now just resold it,” said Ainhoren. The software in question, PostgreSQL, an open-source database project, said it was
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Quadriga: The cryptocurrency exchange that lost $135m

Image copyright Facebook/Quadriga Image caption Gerald Cotten When the 30-year-old founder of a Canadian cryptocurrency exchange died suddenly, he took the whereabouts of some C$180m ($135m; £105m) in cryptocurrency to his grave. Now, tens of thousands of Quadriga CX users are wondering if they will ever see their funds again. In 2014, one of the world’s biggest online cryptocurrency exchanges – MtGox – unexpectedly shut down after losing 850,000 Bitcoins valued at the time at nearly $0.4bn (£0.3bn).Its meltdown shook investors in the volatile emerging marketplace – but the calamity at the Tokyo-based company proved a boon for a new Canadian online cryptocurrency exchange. “People like the fact we’re located in Canada and know where their money is going,” Quadriga CX founder Gerald Cotten said at the time. Some five years later, Cotten’s sudden, untimely death has left thousands of his customers scrambling for information about their own missing funds. “We don’t know whether or not we’re going to get our money back,” Tong Zou, who says he is owed C$560,000 – his life savings – told the BBC. “There’s just a lot of uncertainty.” This month, Quadriga – which had grown to become Canada’s largest cryptocurrency exchange – was granted temporary bankruptcy protection in a Canadian court. The firm said it had spent the weeks since Cotten’s death trying desperately to “locate and secure our very significant cryptocurrency reserves”. Image copyright Reuters Image caption Broken representations of the Bitcoin virtual currency In court documents, Quadriga says it owes up to 115,000 users an estimated C$250m – about C$70m in hard currency and between C$180m an C$190m in cryptocurrency, based on recent market rates. It believes – though it’s not certain – that the bulk of those millions in reserves was locked away by Cotten in cold storage, which is
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9 Reasons the Crypto Market Is Down

Cryptocurrency It isn’t as bad as you think. Image credit: Busakorn Pongparnit | Getty Images Scott McGovern Contributor Founder of crypto site Blocklr & Growth Nuts, an organic growth co. February 15, 2019 8 min read Opinions expressed by Entrepreneur contributors are their own. Bring up cryptocurrency today, and you are likely to hear that the crypto market is down. People have finally realized that cryptocurrency has no real value — or so the argument goes.Without going into the tenuous value of other assets, the fact that crypto isn’t backed by anything is not the real reason for today’s bear market. Instead, the crypto market is facing significant growing pains, coupled with a public opinion crisis. But when cryptocurrency entrepreneurs, investors and regulators address the following nine factors, you can expect a major market shift.Related: The Murky World of Cryptocurrency1. Making money in the crypto market is less straight forward than it used to be.Early cryptocurrency adopters either capitalized on ICOs (Initial Coin Offerings) by getting in early and getting out, mining and holding cryptocurrency for long periods of time or by day trading.In today’s investment climate, none of these approaches are sure to make you a fortune. Bitcoin mining has become more difficult and more competitive, meaning that the hash rate required to mine isn’t always worth the electricity bill.The SEC (Securities and Exchange Commission) has turned its attention toward prosecuting fraudulent ICOs and crafting regulations. Across the board, ICOs have received criticism for serving as a means of fundraising without giving investors anything significant in return. Of course, there are also a lot of legitimate ICOs, though these receive less media attention.And day trading is much more difficult in a bear market, especially one as unpredictable as the one we’re currently in.This isn’t to say that there isn’t another wave of
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How Twitter’s Jack Dorsey became Bitcoin’s unlikely champion

Blockchain has a new unexpected hero: Twitter‘s Jack Dorsey. Although up until recently the cryptocurrency community would routinely grill Dorsey over Twitter‘s notorious Bitcoin giveaway scam epidemic, the micro-blogging service’s chief has found a new fandom among staunch Bitcoin BTC supporters; and it all began on the Joe Rogan’s podcast, The Joe Rogan Experience. Following a heated backlash from free speech activists, Dorsey embarked on an unusual podcast media run to discuss Twitter‘s code of conduct, its policies on censorship, how those rules are enforced, and how the platform aims to tackle content policing in the future. But all of these matters were overshadowed when Dorsey revealed fascination with decentralized tech and Bitcoin. “I believe the internet will have native currency.” Dorsey told Rogan. “I don’t know if it’s Bitcoin, [but] I think it will be given all the tests it’s been through, the principles behind it, and how it was created.” “[Bitcoin] is something that was born on the internet, that was developed on the internet, that was tested on the internet,” he continued, “it is of the internet.” Just like that, Dorsey became the talk of the (blockchain) town. Indeed, his remarks on Bitcoin swiftly flooded pretty much every blockchain discussion on Twitter – and similarly, cryptocurrency media loudly celebrated Dorsey’s endorsement of decentralized tech. Unlike stereotypical “blockchain influencers” (blockchainfluencers?) selling unrealistically overhyped visions of the technology, Dorsey surfaced as someone genuinely interested in what Bitcoin and cryptocurrencies can do for the regular internet user right now. Not only that, Dorsey had already put his money where his mouth is by enabling Bitcoin purchasing on Square’s Cash App (where he also acts as a CEO) in early 2018. “The reason we enabled the purchasing of Bitcoin within the Cash App is [because] we wanted to learn about the technology,” he
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A deep dive into Bitcoin – and what makes it better than ‘real money’

In 2008, the pseudonymous person (or persons) by the name of Satoshi Nakamoto released a whitepaper called Bitcoin: A Peer-to-Peer Electronic Cash System. The release of the whitepaper came at the time of the 2008 global financial crisis, putting trust among financial establishments at an all-time low. According to the paper, while the current system works well for most transactions, “it still suffers from the inherent weaknesses of the trust based model,” it noted. In order to solve this issue, the nine-page whitepaper suggested the answer lies with an electronic payment system. Based on cryptographic proof rather than trust, the paper states that this would allow “any two willing parties to transact directly with each other without the need for a trusted third party.” Back then, the only two people most likely to have realised the potential of Bitcoin BTC were Nakamoto and Hal Finney, a computer scientist. Finney, who died in 2014, developed one of the earliest forms of a proof-of-work cash system. He was also the recipient of Nakamoto’s first Bitcoin transaction. There has been some speculation that the two were the same person. In a bid to give back the power to people to control their own money Nakamoto believed Bitcoin was the answer. To highlight this further when the first block, known as the Genesis Block, was launched on the network in early 2009, it was embedded with this comment: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” Since then the industry has grown, accounting for nearly 2,100 altcoins, of which over 1,700 have a market cap. Unsurprisingly, while many have claimed to be the next big thing, none have managed to trump Bitcoin from the top spot thus far. The technology behind Bitcoin, the blockchain, has also garnered significant interest from various
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4 years after adopting Bitcoin, this business is still waiting for someone to use it

Ask any Bitcoin BTC fan – be it an investor, trader, entrepreneur, or even the dreaded “thought leader” – for their take on what Bitcoin really needs to fulfil its full potential, and they’ll undoubtedly tell you – mass adoption. It’s understandable, then, that businesses (large or small) are inevitably inundated with requests from persistent bagholders to begin accepting their particular cryptocurrency. But it seems even after these requests are accommodated, there’s hardly any customers paying with cryptocurrency. One small business in the UK, Seymour Locksmiths, has been accepting Bitcoin and other digital assets since 2014 – and not a single customer has paid with cryptocurrency in that entire time. “In 2014 a large school of thought suggested that the main breakthrough use case for Bitcoin would be peer to peer transactions. That being customers and businesses paying for goods and services directly between one another without having to rely on payment networks such as Visa,” wrote Seymour Locksmiths. “We decided to put this theory to the test. In September 2014 we officially started accepting Bitcoin for all of our locksmithing services, shortly afterwards we also starting accepting Dash,” the establishment further said. “Since that day over four years ago and the time of writing, we have not had one customer ask to pay in Bitcoin, Dash or any other cryptocurrency.” Seymour Locksmiths went on to speculate reasons for the non-existent Bitcoin adoption: not many customers had Bitcoin ready-to-go in a hot wallet, and the relatively expensive transaction fees for small cryptocurrency payments were a turn-off. It also admitted there was a notable uptick in Bitcoin interest on behalf of its customers during the heat of the 2017 bull market, indicating that price is the ultimately interesting factor for regular, non-cryptocurrency folk. While this might seem like an outrageously localized example, this business is not
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The ultimate cryptocurrency explainer: Bitcoin, utility tokens, and stablecoins

Ten years ago the arrival of Bitcoin BTC changed how we view the global monetary system. With it, a new era was introduced that is reshaping how we connect and exchange value. Cryptocurrencies are decentralized digital assets that use cryptography as an encryption mechanism for security purposes. Beginning with Bitcoin, at the time of the 2008 global financial crisis, the idea was to create a currency independent of any central authority that could be electronically transferred with low transaction fees. The idea behind Bitcoin was to give back monetary control to the people. In order for them to function, they use what is known as blockchain technology. It is this which provides a permanent record of transactions between any given party that is confirmed and verified by a network of computers, or nodes. It is these nodes that are continually updating the blockchain when new blocks of transactions are added. By using the blockchain, parties conducting transactions between each other don’t need to reveal their identities, and the transaction doesn’t need to be verified by a third party. At its inception, the aim of the blockchain is to deliver an immutable record of data that is transparent, secure, and reliable. Today, there are thousands of altcoins that have a market cap, all of which provide various services. These include the likes of cryptocurrencies, utility tokens, security tokens, non-fungible tokens (NFTS), and stablecoins. Read on to understand what all those are. Bitcoin: Where it all started Bitcoin is a first generation cryptocurrency that is used for buying goods and services. When its white paper was published in 2008 by the pseudonymous person (or persons) Satoshi Nakamoto, the aim of it was to deliver an alternative to the banking system for the global population. At publishing, it remains the number one cryptocurrency
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