Polina is an undergraduate student at Belarusian State Economic University (BSEU) where she is studying at the faculty of International Business Communication for a degree specializing in Intercultural Communication. In her spare time she enjoys drawing, music and travelling.
New Fullnode project was developed to raise bitcoin network security.
Fullnode is a new project aimed at encouraging bitcoin users to “adopt a node”.
Bitcoin nodes hold the block chain copy, a history of all the transactions have ever been made. Besides, it verifies the transactions occurred over the network.
The maintenance of bitcoin distributed network requires a considerable number of ‘full’ bitcoin nodes.
Still, the amount of full nodes has reduced in the last months. It has proven to be difficult to induce someone to take on a node. Fullnode project is aimed at allowing bitcoin users to tackle this problem without any difficulties.
Or Weinberger, developer of the project, told CoinDesk: “I thought it would be cool if people who wanted to help the bitcoin network, but didn’t know how, could simply send some BTC to an address and have a full node deployed for them.”
Despite the growing concern about the stagnant supply, the current number of active nodes amounts to 8,000. The concerns arise as downloading the bitcoin daemon in order to provision a node presents certain troubles and in comparison with mining it is not worth doing.
Fullnode provides a user-friendly way to provide valuable resources to the block chain without using the bandwidth or disk space of the benefactor.
One full node for a month costs $10. The installment process is quite easy: the automatic server deployment agent will start-up the node after bitcoins are sent to Fullnode (via Coinbase). The process takes just a few minutes.
Furthermore, beginning from this weekend the users will be able to name their server. For instance, users can choose the name ‘Satoshi’ for satoshi.fullnode.co.
The project intends to incorporate various provider pools to expand distributed network geographically. DigitalOcean and Linode have presence in Singapore North America, the Netherlands, the United Kingdom and Japan. Weinberger projects to increase locations by integrating Google Compute Engine.
Users can utilize IP search on Bitnodes to verify that the nodes they spent bitcoin for exist and also check out the rest of the world distribution.
It is quite difficult to say the exact number of nodes necessary, but having a diverse nodes to select from could provide higher network security as the larger amount of node minimizes the possibility of double spending.
Jeff Garzik and Mike Hearn are concerned about the decreasing number of nodes. Moreover, Garzik partnered with Deep Space Industries, Inc. to send nodes into space. In the case of terrestrial failure, the satellites will serve as a backup.