• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: Breaking: Digital Currency Group (DCG) Pulls The Plug On TradeBlock: The End Of An Era?
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Digital Currency Group (DCG) Pulls The Plug On TradeBlock: The End Of An Era?
Bitcoinist_Centralization
Advertisement

Centralization of Bitcoin Classic Nodes Needs To Be Addressed

Jp Buntinx by Jp Buntinx
7 years ago
in Bitcoin, Bitcoin Breaking News Brief, Breaking Bitcoin News, Breaking News, News, News teaser
0
Advertisement
Advertisement

The topic of Bitcoin Nodes is still a cause for many debates on Bitcoin platforms and Reddit these days, as the recent jump in Bitcoin Classic support has people asking a lot of [valid] questions. Although it is positive to see an outspoken support for either Core or Classic, trying to artificially grow the numbers will not do anyone any favors in the long run. A recent report shows how most of the Bitcoin Classic nodes are not hosted on dedicated servers, which is of particular concern.

Also read: French Media Campaign Against Blocking Ads Opens Door For Bitcoin Micropayments

Claim the JACKPOT with 55 FREE SPINS. Signup today to redeem your bonus.

Centralizing Bitcoin Classic Nodes Will Not Help

Bitcoinist_Centralization Bitcoin Classic

When it comes to creating and running a Bitcoin Node, the goal is to distribute and decentralize the digital currency network. Most users run a Bitcoin Node at home, although that usually means leaving a computer on and connected to the Internet 24/7. However, some users are looking for alternative solutions, which are not only cheaper but also require less maintenance.

Thanks to modern services such as Amazon Web Services and Choopa, it has become rather easy to deploy a virtual machine hosted in a data center somewhere, and run any software on it for legitimate purposes. Due to the relatively cheap price tag associated with these services, spinning up a few hundred instances with different Bitcoin nodes is not all that difficult.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Based on a recent report by BitFury, this seems to be what has happened ever since the number of Bitcoin Classic nodes started seeing exponential growth. Although it is good to see such an outspoken support for this block size solution, it is impossible to determine how many people are actively running a Bitcoin Node, as half of them are running on Amazon AWS or Choopa.

Some of the Bitcoin Core nodes are hosted on similar servers as well, though, as this is a cost-effective solution to support the Bitcoin network. That being said, this is not attributing to the decentralized nature of Bitcoin, as running nodes hosted on servers in a few data centers around the world doesn’t distribute the load by any means. By grouping the majority of nodes in the US, Canada, and Europe, there is still a fair amount of centralization going on.

In the case of Bitcoin Classic nodes, 31% of these nodes are hosted on Amazon AWS, whereas an additional 23% are located on Choopa. Combining these numbers shows how over half of the Bitcoin Classic node ”support’ is centralized among two companies, which is quite worrying, to say the least.

VPS Providers To Take Action?

Bitcoinist_Centralization Bitcoin Classic VPS

Although the most obvious solution would be to make people understand how this centralized approach will not do anyone any favors, VPS providers accepting Bitcoin might want to keep an eye on things as well. Granted, it would be rather strange to refuse the service to customers when all they want to do is run a Bitcoin node, but something has to happen to promote further decentralization of these efforts.

Setting up an inexpensive Bitcoin Node solution at home is not all that hard for most digital currency enthusiasts. A Raspberry Pi 2 or 3 is cheap, and most people will have an old hard drive lying around somewhere to store the blockchain data. Plus, setting up the software does not take all that long. Given the low power consumption of a Raspberry Pi, it is a perfect device to run a Bitcoin node at home without much trouble.

What are your thought son the centralization of Bitcoin nodes? How can we combat this situation in a proactive manner? Let us know in the comments below!

Source: Imgur

Images courtesy of Bitcoin Classic, Shutterstock, TechMVP

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Jp Buntinx

Jp Buntinx

JP Buntinx is a freelance Bitcoin writer and Bitcoin journalist for various digital currency news outlets around the world. In other notes, Jean-Pierre is an active member of the Belgian Bitcoin Association, and occasionally attends various Bitcoin Meetups in Ghent and Brussels

Related Posts

Bitcoin Bull

Bitcoin Bullish Signal: Exchange Netflow Registers Negative Spike

2 days ago
Bitcoin

Bitcoin “Buy The Dip” Mentality Disappears, Is Now Actually The Time To Buy?

2 days ago
Crypto.ro and Binance Unveil the 3rd Binance Meetup in Romania, Set in Timisoara

Crypto.ro and Binance Unveil the 3rd Binance Meetup in Romania, Set in Timisoara

3 days ago
Bitcoin

Bitcoin Under Siege: Support Breakdown Raises Concerns Of Drop To $24,000 – Analyst

4 days ago
Bitcoin

Current Bitcoin Cycle Is Showing A Never-Before-Seen Trend

4 days ago
Bitcoin

Bitcoin Diamond Hands Remain Strong As Supply Hits New ATH

5 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • The Former High School Teacher Who Made Millions From PEPE...

    1 hour ago
  • Experts Are Predicting 15,000% for An Upcoming Memecoin...

    1 hour ago
  • Polygon (MATIC) and Tron (TRX) Price Prediction: TMS...

    8 hours ago
  • TMS Network (TMSN) Attracts Big Attention Amidst Binance...

    8 hours ago
  • Unveiling Dogetti, Pepe, and Floki – 3...

    9 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.