Twitter founder and CEO Jack Dorsey has launched his own Bitcoin (BTC) exchange. The 5th. In February, the tech billionaire posted a screenshot of Bitcoin node software Bitcoind running on his computer, meaning Dorsey is now working to verify bitcoin transactions.
Dorsey posted a screenshot accompanied by the words Running #bitcoin. In the picture, Dorsey’s computer is synchronized with the Bitcoin blockchain, which requires downloading the entire history of the blockchain up to today. The bitcoin blockchain is approximately 325 GB in size at the time of writing.
Start #bitcoin pic.twitter.com/W51ga3yrKb
– Jack (@jack) 5. February 2021
The synchronization process can take weeks, depending on your computer and the speed of your internet connection. Dorsey’s screenshot shows that he’s only managed to sync 2% of the channel so far.
When asked if he runs the node on a dedicated Raspberry Pi, Dorsey said he set it up with a Macbook M1 chip – the latest in Apple’s line of laptop processors. tweeted Dorsey : Let’s start from scratch and build on M1 first.
Bitcoin nodes differ from Bitcoin miners in that they do not compete for a share of the block rewards. Instead, another immutable copy of the blockchain is placed on each node, which helps improve the overall security of the network. The number of active full-bitcoin nodes fluctuates with some delay, somewhere between 7,000 and 11,000 according to the latest data.
The number of Bitcoin nodes has recently reached a record high. As reported by Cointelegraph, at 20. January 11,613 Bitcoin nodes in operation. At the time of writing, this number had dropped to 7,260.