The Bitcoin exchange and mining giant known by the name of BTCC has decided to offer the Bitcoin community a nice Christmas gift, by deploying a total of 100 full bitcoin nodes, across five continents, to further support the bitcoin network.
For those who are not yet aware, full bitcoin nodes enforce the rules of the bitcoin network. They do this by serving full copies of the blockchain, but also by validating transactions and blocks. Unfortunately, in the last couple of months, these have been declining, thus leading the bitcoin network towards centralisation. In fact, the network has seen a large decrease of around 19% in viable bitcoin nodes last year.
The main reason why nodes may be disappearing is that while bitcoin miners are rewarded with bitcoin for generating countless transaction confirmations, those running nodes are not given anything in return, regardless of hosting the entire blockchain database and relaying all transactions.
BTCC’s Samson Mow made a press statement, saying that the company decided to deploy these nodes so that it would fulfil its role in maintaining the bitcoin. He also mentioned that “As a proponent and believer in bitcoin, we see both supporting core development and well as the bitcoin network itself as our duty. The nodes we deployed today will help to preserve the network as the number of full bitcoin nodes continues to decrease.”
Together with this, it’s also worth pointing out that the bitcoin exchange has deployed a total of 10 powerful DNS seed nodes, coming with unrestricted network access. Based on this, anyone who would like to host their own bitcoin core nodes can also use these, as they’re publicly available.
Most of the nodes deployed by BTCC are in China (21%), Germany (19%) and Singapore (19%). However, most of the firm’s reachable full bitcoin nodes are in the US, with the rest donated in countries ranking low on the full bitcoin node geographic distribution chart.
The company is also currently encouraging other major bitcoin companies to join them in contributing to the bitcoin system, which can easily be done by sponsoring a couple of powerful, full nodes.Do keep in mind that when companies pick up the slack, the phenomenon leads to centralization, which is why more individuals should also consider sponsoring nodes.
If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
No Responses