Led 18

Number of Ethereum Nodes Grows Exponentially

Source: bitcoin

Bitcoinist_Network Nodes

Network nodes play an important role in the security and health of any digital currency. Over the course of the past twelve months, the topic of Bitcoin nodes has been kicked around a few times, and new solutions have been found to bring plug-and-play solutions to users all over the world. The Ethereum network, on the other hand, doesn’t seem to be having any problems adding more nodes to its network.

Also read: Coinsecure Announces New Head Of Global Business Development

Ethereum Network Nodes Grow Exponentially

Even though nearly every digital currency in existence right now is competing directly with Bitcoin, the Ethereum network has proven to be something that can be beneficial to the Bitcoin ecosystem in the long run. Not every altcoin has its uses, but Ethereum seems to be on the right track as far as future blockchain technology development is concerned.

To many people, Ethereum is not as much as an altcoin, but rather an extension of the Bitcoin network. Dubbed as one of the many “Bitcoin 2.0” projects, Ethereum has a lot of potential to bring blockchain technology to a mainstream audience all over the world in the next few years. That is, assuming the development can meet consumer demand.

For the time being, very few Ethereum-based projects have come to fruition, as most of them are still in development. Not that there is anything with that, as it takes time, money, and effort to build proper platforms and tools to be used on a global scale. As far as Ethereum is concerned, there is an abundance of all three, as well as a ton of nodes to support the network.

Whereas the Bitcoin Node growth has been slowing down in the past year or so, Ethereum nodes are being deployed on a global scale like there is no tomorrow. Based on a statistic provided in the form of a screenshot, the number of nodes has grown by 30.3% in the past 24 hours alone. That is quite a staggering number, to say the least.

To be more precise, the number of Ethereum nodes has been growing spectacularly in the last week, and a growth of 424.9% has been recorded on the charts. As one would come to expect from a decentralized digital currency, the more network nodes, the more secure the system is. Plus, with a nice distribution of nodes throughout the United States, Russia, Europe, and Asia, things are looking quite good for this project.

Setting Up A Bitcoin Node Is Easier

One of the main differences between running a network node for Bitcoin or Ethereum is how easy it is to set up the first, but not the latter. Running an Ethereum node on any operating system will require a fair amount of tinkering and scripting although detailed instructions are provided on Gitbooks. Bitcoin, on the other hand, just requires the client to be run on any device, and the right ports to be forward.

However, the growth in number of Ethereum nodes can not be denied, even if there is no plug-and-play solution available to users just yet. While Bitcoin may have a leg up over its “competitors” in that regard, the popular digital currency needs to come up with new ways to boost its number of nodes very soon.

What are your thoughts on the Ethereum node growth? What can Bitcoin do to experience similar increases? Let us know in the comments below!

Source: News Tip Via Email

Images courtesy of Shutterstock, Ethereum

The post Number of Ethereum Nodes Grows Exponentially appeared first on Bitcoinist.net.

Number of Ethereum Nodes Grows Exponentially

Share
Led 07

New BTCC Bitcoin Nodes Are Hosted on Amazon Web Services

Source: bitcoin

New BTCC Bitcoin Nodes Are Hosted on Amazon Web Services

People who have been following the Bitcoin news recently will remember how Chinese exchange BTCC recently deployed an additional 100 nodes on the network. By spreading out these nodes all over the world, the Bitcoin network became a bit more decentralized than before. However, all of these Bitcoin nodes are hosted on Amazon Web Services, which is kind of centralizing the effort a bit.

Also read: Will Egypt’s Banking Institutions Create Increased Bitcoin Popularity?

Amazon Web Services For Bitcoin Nodes

Regardless of how all of these Bitcoin nodes were deployed by BTCC, it is important to keep in mind the Bitcoin network is only as strong as the number of nodes actively broadcasting transactions. By spreading out these Bitcoin Nodes all over the world, the network becomes more decentralized, and taking down Bitcoin becomes even less possible.

At the same time, some community members are worried about the deployment by BTCC itself. As it turns out, a lot of these nodes have been distributed throughout the world, which is the proper decision. But at the same time, it looks like just about all of BTCC’s new Bitcoin Nodes are running on Amazon Web Services, which is a bit of a strange decision.

Not that there is anything wrong with using Amazon Web Services to deploy Bitcoin Nodes though. The web platform built by Amazon is very powerful, versatile, and scalable. In fact, AWS can be used to host a variety of different services, and they offer quite powerful hardware that is more than capable of running a full Bitcoin Node 24/7.

As one would come to expect, using AWS for hundred different Bitcoin Nodes will not come cheap, although BTCC has not unveiled any financial details regarding the deployment. Some community members feel that using AWS for this type of Bitcoin network strengthening is not the same as “actually” deploying 100 Bitcoin nodes around the world.

This all depends on how one envisions a true deployment of Bitcoin Nodes. Should individuals and companies install a bunch of plug-and-play nodes in various locations throughout the world? Or is using an online service such as AWS more than sufficient? The latter option gives it a sense of centralization though, as one company is in control of all of these additional Bitcoin nodes.

Who Will Follow BTCC’s Lead?

The big question remains who will be the next company or Bitcoin industry expert to deploy even more nodes around the world? According to the statistics provided by 21 Inc, there are slightly over 5,000 nodes in the world right now, which is still a very low number. if Bitcoin adoption is to grow around the world, the number of nodes will need to scale as well.

Now that more and more companies are focusing their efforts on creating plug-and-play bitcoin node solutions, there is no reason as to why this number will not grow over time. Even a cheap device, such as a Raspberry Pi 2, can be turned into a full Bitcoin node once provided with additional storage capabilities.

What are your thoughts on BTCC using AWS for these 100 additional Bitcoin nodes? Let us know in the comments below!

Source: 21

Images courtesy of BTCC, Shutterstock, AWS

The post New BTCC Bitcoin Nodes Are Hosted on Amazon Web Services appeared first on Bitcoinist.net.

New BTCC Bitcoin Nodes Are Hosted on Amazon Web Services

Share