What is BitcoinCore? – investment business

Bitcoin Core can be defined as the first implementation of the market leading cryptocurrency protocol, which was initially created by Satoshi Nakamoto in 2009. It is an open source software that has been updated to the present. This allows a computer to run a computer program to exchange electronic money from one person to another over a distributed data network.

In simple words, Bitcoin Core designates one of the versions of the software, but also a group of programmers, the largest community of people who contribute to the development of the protocol and the maintenance of the Bitcoin code.

Among the functions of this program is to be responsible for independently verifying payments It is one of the few clients that are able to implement a full Bitcoin node. Other similar programs are Bcoin, Bitcoin Knots, Bitcoin Unlimited and BTCD; Although Bitcoin Core is the most widely used.

Its configuration is based on software that creates entire nodes, which must download the entire Bitcoin blockchain. Anyone can download these nodes. It is known that there are tens of thousands of these distributed all over the world.which ensures the security of the network and that it is almost impossible to change the bitcoin history.

Also, this software is downloaded by more than 90% of bitcoin miners. Nearly 15,000 nodes and mining pools are currently running the Bitcoin software, making it a starting point for processing and securing the network.

In turn, it has a digital wallet, through which bitcoins can be managed independently, and at the same time, Check each one of the executed processes.

If you want to know more about Bitcoin Core, we invite you to continue reading this article and understand what is at the heart of the first cryptocurrency on the market.

1 How does Bitcoin Core work?

Being a computer program, the program runs (or runs) on a computer. So, just go to bitcoincore.org to get the client, which can currently be installed on Windows, Mac OS and Linux.

Basically what Bitcoin Core does is turn your machine into a full node of the network, which, as mentioned above, usually includes a full copy of the processes performed on the Bitcoin blockchain, to start validating transactions. It’s a history of transfers dating back to 2009 and can take a couple of hours or two days to download – depending on the bandwidth -, But this is necessary to start Bitcoin Core.

Bitcoin requires a distributed data network

Bitcoin Core allows you to contribute to the security of the Bitcoin network by turning your machine into a full node.

The good thing is that this initial sync only takes place once. Although it continues to be synchronized, but from the end of the chain, that is, with the latest blocks.

When the client is fully downloaded, all that’s left is to start up and Ensuring the perpetuation of the Bitcoin network between us.

Bitcoin Core is not necessarily used to send or receive bitcoins, an action that can easily be performed with other software, although it is possible, because by including the wallet, BTC can be transferred and stored.

2 Who are the developers of Bitcoin Core?

Currently there are many developers running Bitcoin Core, but if we turn back the clock, we will see that the main developer is Satoshi Nakamoto himself. He first created the software, which was tested in its early days by a small community of curious people, but it was more than enough for the network to become what we know it today.

After disappearing from the Internet in 2010, Nakamoto delegated the task of continuing his project to Gavin Andersen, a software developer. This is a bit of an abstraction, because there are those who say that after Nakamoto left, Andresen took the reins and was the one who started making big changes to the Bitcoin code along with other programmers.

Bitcoin Core is the protocol’s most important client and the first to be implemented. Source: BitcoinCore.

Years later, Andresen left the game and then entered Wladimir van deer Laan, another brilliant Bitcoin developer, but not well known for keeping his private life secret. He is currently the lead developer of Bitcoin And one of the many things that keeps the network going is important.

The process of contributing to the development of Bitcoin is interesting. For practical purposes, there is a hierarchy that must be respected and it is established based on the longevity and contributions made by other developers of the protocol.

Satoshi Nakamoto started developing Bitcoin Core

Satoshi Nakamoto was the first developer of Bitcoin Core. Since then, there have been many who have updated the client.

Other indispensable people are the ones who keep the code and have unique access to the network. In addition to, They are the people who fulfill the task of organizing and managing all the requests that must be included in the proposals to improve Bitcoin.

A short list of the biggest developers and maintainers of Bitcoin tokens, as well as van deer Laan, computer scientists Pieter Wuille, Marco Falke, Gavin Andresen, Matt Corallo, Gregory Maxwell, John Newberry, Cory Fields and Peter Todd.

3 What are the features of Bitcoin Core?

There are several characteristics of Bitcoin Core, but among the most important is its role as a validator of the processes executed in the Bitcoin network. This, while allowing interaction with the protocol, is from the concurrency we mentioned above.

Another notable feature of Bitcoin Core is that it runs an in-house program called bitcoind. This program usually runs in the background, It is used by command lines and remote procedure calls (RPCs). This internal program is known as daemon – daemon in Spanish – and is closely related to various operating systems.

Another important feature of Bitcoin Core is the ability to run a testnet, Its developers are free to check for changes and test new additions for the main network.

Bitcoin Core is Operation Verification

Bitcoin Core is a tool for verifying the operations that are performed on the Bitcoin network.

In addition to all this, Bitcoin Core has a bitcoin-cli program, which is nothing more than a command-line interface, through which users of the protocol can transfer calls to remote procedures to bitcoind, so that they can perform any operation. Logically, it could work on Bitcoin.

In terms of security, Bitcoin Core is known to have several barriers that prevent distributed denial of service (DDoS) attacks directed against nodes, Something usually happens when you sync the app.

4 How many versions of Bitcoin Core are there?

Since its inception, just over 10 years ago, Bitcoin Core has undergone many updates, which were implemented by some of the developers mentioned above. Bitcoin’s original software has permeated and advanced over time, to the point where anyone can get hold of it.

The first version, introduced by Satoshi Nakamoto, was 0.1, released on January 9, 2009, and Windows was the only operating system that could support it. After 11 months, version 0.2 arrived, as Linux was absorbed.

Bitcoin Core versions were released between January 2021 and October 2022. Source: Bitcoin Core.

Then came 0.3.2 and 0.3.9. The latter is especially important because it was the last edition that Satoshi Nakamoto himself released. Before disappearing without a trace.

Later, Gavin Andresen, who we talked about earlier, released Bitcoin QT, an updated app released in November 2011. It wasn’t until 2014 that it returned to its original name, Bitcoin Core, in version 0.9.0. In the same year, Andersen leaves the head of development and makes way for Vladimir van der Laan, who we also talked about.

Bitcoin Core already supports Taproot even before it arrived

Taproot, the last major Bitcoin update, was already supported in Bitcoin Core months before its arrival.

Among several other updates, in October 2016, Bitcoin Core reached 0.13.1, which brought the SegWit soft fork, which was an attempt to improve the scalability of the cryptocurrency that was activated a year later, Optimizing the spacing between blocks of the bitcoin chain.

SegWit, or Segregated Witness, allows each block in the account chain to have a new structure called a witness. To learn about this update, you can read this article.

In February 2018, developers Peter Wuille and Gregory Maxwell introduced the Bitcoin Core 0.16.0 update, supporting the use of the SegWit address format.

It wasn’t until 2021 when one of the most important updates to the Bitcoin protocol, Taproot, which was already backed by Bitcoin Core, arrived that the community decided to stick to the rules of that split for version 22.0, one of the most recent and released in September 2022.

5 What is required to use Bitcoin Core?

As mentioned above, thanks to the updates, Bitcoin Core is now available to everyone who wants to start contributing to the main blockchain of the ecosystem.

But there are conditions. The first thing is to have a storage capacity greater than 400 GB, due to the weight (memory) of the entire block chain, which must necessarily be downloaded in order to run the client.

Beyond that, it remains to start contributing to the network. That is, run the Bitcoin Core client until your computer becomes a node, which, as has already been said, They maintain the power of the network by distributing information among its participants.

Anyone can run Bitcoin Core to secure the network

Anyone can install and run Bitcoin Core to secure the Bitcoin network.

To run a node, you need a machine with 2GB of RAM, and more than 250GB of available space. At the same time, a stable and fast Internet connection, as well as good ventilation, is required, because the device must be active for at least 6 hours a day. To find out what else you can do to install a Bitcoin node, you can read the various articles we have published on CriptoNoticias.

Bitcoin Core is the client par excellence that allows you to contribute to the security of the network and which, based on its updates, is available to anyone who wants it. So we invite you to install the program And go on your way to becoming a part of the community like never before.

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