Thread: How can you trust Bitcoin nodes?
#4
Nodes and wallets are given checkpoints like "Don't accept the blockchain unless the block 5000 has hash A, 2000 has hash B, 500 has hash C". And yes, if they find a longer chain then they'll erase their chain and switch! But I don't think they find the longest chain before downloading it, because any node can lie at the beginning.
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#3
Bitcoin is meant to be a decentralized network not requiring trust to make/receive transactions. Transactions contain signatures to prove that they haven't been tampered with
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#2
The Bitcoin node is significantly useful because its main purpose is to verify transaction and blockchain on the networks. It secures our account because it negates the need for the 3rd party clients. By using the Bitcoin wallet, we are required to give our trust to the aforementioned program for smooth transactions.
Last edited by AbdulShiek; 05-07-2020 at 04:54 AM.
#1
How can you trust Bitcoin nodes?
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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