Category: 3.Beginner’s Guide to the Bitcoin Network

The Bitcoin network is a peer-to-peer (P2P) network of “nodes”. In previous lessons, you learned what a network does and what a P2P network is. But what exactly is a Bitcoin node? What does a Bitcoin node do? How does a Bitcoin node work? A Bitcoin node, or more specifically, a Bitcoin “full node”, is simply a computer that runs the Bitcoin software (known as a…

What does the Bitcoin network do? As mentioned in the previous lesson, the Bitcoin network is made up of computers running the Bitcoin software. These computers or “machines” are known as Bitcoin nodes. Bitcoins nodes basically gossip. They love to talk to each other. But instead of talking about recent drama from the Kardashians, they communicate about what’s going on around the network.…

What is the Bitcoin network? The Bitcoin network is a peer-to-peer (P2P) network. From the words of the Bitcoin God himself: “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.” The Bitcoin network is made up of computers running the Bitcoin software (also known as…

Instead of a governing body or central organization (like a bank) managing transactions, Bitcoin is run by a network made up of thousands of computers running some software that handles the sending and receiving of bitcoins. This network of computers is called the Bitcoin network. Before we dig deeper into the details of the actual Bitcoin network, let’s…