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What is Bitcoin Core? Concepts and misinterpretations of bitcoin blind


One of the words and terms that you have probably heard many times in the world of bitcoin and digital currencies is “Bitcoin Core”. Probably the first time you heard the term, you were confused and thought that bitcoin is the same as bitcoin, or one of the bitcoin forks.

Even users who have been familiar with Bitcoin for years and have gained experience in this field may not even know exactly what Blind Bitcoin is or whether their information about it is incorrect or incomplete. We help in this matter an article From the Carney website, we provide you with a simple guide to knowing what Bitcoin Core is and how it works.

To understand what Bitcoin Blind is, it is best to first know what Bitcoin “Blind is not”. So we begin this article by answering this question.

What is not bitcoin blind?

In the first step, let’s get rid of some common misconceptions and misconceptions about bitcoin blind.

  • Blind Bitcoin is by no means a digital currency: You may have heard that fans of coins that are “forked” from bitcoin call the main coin of this blockchain (ie bitcoin) bitcoin blind; But you should know that this bitcoin is not blind, and for the reasons we will explain later, using such a name for bitcoin is misleading.
  • There is an external bitcoin: You may have heard some say that bitcoin blind does not really exist; But these people are wrong; Because there is blind bitcoin; In the continuation of this article, we will say how and where!
  • Bitcoin Blind is not the name of the Bitcoin development team: You may have heard that Bitcoin Blind is the name of one of the Bitcoin development teams. Well, that’s not true either; However, it is a little closer to the truth than the previous two misconceptions.

Now that we know the misconceptions, we can see what blind bitcoin is. To do this, it might be best to look at the history of bitcoin blind and how it relates to bitcoin itself.

Also read: What is Bitcoin Cash?

Bitcoin network, bitcoin digital currency and bitcoin blind

In English texts, when we talk about bitcoin with the letter B (big), we mean the organization and software of the Blockchain behind the digital currency of bitcoin, and when we talk about bitcoin with the letter b (small), we mean the digital currency of bitcoin itself. Is that people buy and sell it.

Both software and digital currency appeared in the late 2000s; Although the digital currency of Bitcoin is still the original currency, as you can guess, its software has changed.

The Bitcoin Infrastructure Network Protocol was released in 2008. The protocol, called Bitcoin 0.1, became operational in 2009; But in the early years, many developers became involved with the Bitcoin network.

If you revisit the definition of the two words we mentioned earlier, you will notice that Bitcoin is referred to by the letter B (capital). Organization Or Network Bitcoin as well Blockchaink Software Or Client It has bitcoins. On the other hand, we have the word bitcoin with the letter b (small), which means the same thing currency Bitcoin. This is where the letters and the concepts they refer to come in a little bit of confusion.

As a result, Gavin Andersen, one of the leading developers of Bitcoin, accepted the offer and, in order to make everything clear to everyone, agreed to use the name Bitcoin Blind for the client software; Because this software is the core of the Bitcoin network, which in turn is the platform of the digital currency bitcoin.

That is, there is an organization or network called the Bitcoin Network that has a piece of software at its core called “Bitcoin Blind,” and all of this has worked so well that we now have the Bitcoin digital currency.

With this description, we now understand what Bitcoin Blind is and where it got its name from; But the question is, how does Bitcoin Blind work? Let’s take a look at this together.

How to run Bitcoin Blind

Bitcoin Core is basically a client that runs on the Bitcoin network protocol. You do not have to use blind bitcoin to send or receive bitcoins. You can use other software; But blind bitcoin can also be used for this purpose.

To send and receive bitcoins, there is an integrated blind bitcoin wallet inside the client. This wallet can be used to send and store bitcoins.

Blind Bitcoin Wallet User Interface
View of the Bitcoin Core wallet interface

But there are cases that make blind bitcoin an undesirable option for sending, receiving and storing bitcoins. First, bitcoin is very heavy; It is about 340 GB in size and to use it you must have a personal computer with very high storage space.

Second, to send and receive bitcoins, you must sync your wallet with the network. This takes a lot of time and you will probably have to wait at least two days for your wallet to match all the data in the Bitcoin blockchain. Of course, syncing is only required once, after which you can send and receive bitcoins without having to sync again.

Mining with Blind Bitcoin

You can also use the blind bitcoin wallet to extract bitcoins. This can be profitable; But it requires a lot of energy and time. The steps to do this are as follows.

Mining with Blind Bitcoin
  • Open a wallet in Bitcoin Blind;
  • Click Help and select Debug Window;
  • Click on the Console tab and type “setgenerate true 1” to use only one of your computer’s processor cores;
  • Type “setgenerate false” to stop the extraction.

Of course, you need to know that you need a very powerful computer to extract bitcoins. Years ago you could extract bitcoins with a home PC; But as the number of coins in circulation increases, the calculations required in the bitcoin network become more difficult and require more energy. For this reason, miners use special mining devices called miners.

Some people have also set up facilities where a large number of miners are extracting bitcoins with very high total power. Therefore, it no longer makes sense to use a personal computer to extract bitcoins. Hence the many concerns about the environmental impact of bitcoin mining.

However, knowing that Bitcoin can be used to extract, send, receive and store bitcoins is not without merit.

Security

One of the most important things to consider about Bitcoin Blind is its security. The blind bitcoin system and wallet are as secure as the computer on which they are installed. Although you can only attach one address to your wallet, you still need to make sure you take the usual anti-theft measures to secure your computer.

The Bitcoin website says people should back up their keys (public key and private key); Make sure your wallet is secure; Have an offline wallet for high bitcoin amounts; Monitor security warnings and consider measures so that if they die or become disabled, their heirs can receive bitcoins. Users must also comply with the requirements for computer systems.

People behind the scenes

As you read in the previous sections, we said that some people think that Bitcoin Blind is the name of one of the Bitcoin development teams, and we pointed out that although this is not very accurate, it is not completely wrong.

The reason for this is very simple:

There is a team of developers, programmers and other techies on the GitHub website who are dedicated to blind bitcoin.

Although none of this is formal and organized, this community already exists, and its presence, as well as the effort these people make on this website, has led some to use some of the name Bitcoin Blind for this community.

Gregory Maxwell, developer of Bitcoin Blind
Gregory Maxwell; One of the leading developers of Bitcoin Blind

This is not the true meaning of the word “blind bitcoin”; But it is easy to see why people use this term to refer to this team. Therefore, it is important to know in what context and in what context the term bitcoin blind is used.

In fact, no individual or company owns Bitcoin. According to the Bitcoin website:

Bitcoin is controlled by all its users around the world. Software developers upgrade it; But they can not force any changes in the rules of the Bitcoin protocol.

If you are interested in digital currencies, you will be interested in what Bitcoin does and what happens to the “organization” behind it. Of course, even “organization” is not the right word to refer to the decentralized framework of the people who run Bitcoin. In fact, this is a completely new concept.

common questions

In the last part of the article, we are going to review and answer some frequently asked questions about Bitcoin Blind.

Is Blind Bitcoin Safe?

If the computer on which you installed Bitcoin Core is secure, then Bitcoin Core is also secure. It is essential that you exercise caution when working with Bitcoin software.

Also, keep in mind that bitcoins can be very volatile; So never invest more than you can afford. Always remember that your trading choices depend on your attitude towards risk, your expertise in the market, the diversity of your portfolio, and your feelings about losing money.

Is Bitcoin Blind the same as the Bitcoin Network?

No, it is not. Bitcoin Blind is a software; But the Bitcoin network, as its name implies, is a network. Just to remind you, the word bitcoin (written in English as bitcoin) also refers to the same digital currency as bitcoin.

How can blind bitcoin be used for mining?

Assuming you have a computer with enough power, you need to open the Blind Bitcoin software and enter the Console tab in the wallet. Then type “setgenerate true 1”. Your computer will now start mining bitcoins using one of its processor cores.

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