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

Pro 31

Hacking Team Kept A Close Eye On The Bitcoin Ecosystem Evolution

Source: bitcoin

Hacking Team Kept A Close Eye On The Bitcoin Ecosystem Evolution

Hacking Team has made a lot of media headlines over the past year. Not only because this collaborative is known for its hacking exploits all over the world, but also because of their contacts with governments around the world. Ever since Hacking Team became the subject of a hacking attempt themselves, a lot of people have been wondering what day-to-day operations for this group looked like. Apparently they were keeping a very close eye on the evolution of the Bitcoin ecosystem.

Also read: Solving The Bitcoin Block Size Debate With A Two-Pronged Proposal

Hacking Team Detests Idea of Ethereum And Sidechains

WikiLeaks has unveiled over one million emails from the Hacking Team surveillance malware collective. As part of this release, Internet users from all over the world can gain valuable insights as to how the team communicated behind the scenes, and what types of topics were discussed. Among the internal emails are a few references to Bitcoin and the digital currency ecosystem.

The first of two emails that caught our attention touches upon the subject of Sidechains, Ethereum, and ZeroCash. Apparently, Hacking Team got this information from a TechCrunch article discussing cryptocurrency and the evolution of the blockchain ecosystem.

As one would come to expect, Hacking Team CEO David Vincenzetti had his own thoughts on this matter:

“MY VIEW: Just a bunch of fascinating u-topias (the original the Greek etymology is U-TOPOS, that is, IN NO PLACE) .

THE PROBLEM: The present cryptocurrencies provide an unacceptable transactional anonymity level and therefore they are the currencies of choice of criminals. You compute, you create something which is called money, such money is accepted by somebody and you get something, nearly anything in return. Peer to peer translations, no clearing houses, no overall Government supervision. It won’t work.”

It is important to keep in mind this original email conversation is dated on December 14, 2014, At that time, the discussion of sidechains was heating up, and the launch of Ethereum was something a lot of digital currency community members were anxiously waiting for. Fast forward to today and Ethereum is seeing a fair share of success. Sidechains, on the other hand, have still not come to fruition in the Bitcoin ecosystem.

A Different Attitude Towards Bitcoin 2.0

The second Hacking Team email talks about a different article written by the Financial Times, discussion the Bitcoin 2.0 ecosystem.  Strangely enough, CEO David Vincenzetti has no snarky remarks about this article, and he even seems to agree with most of the points raised. Quite a different attitude compared to the TechCrunch post.

It has to be said, however, that the Bitcoin 2.0 article talked more about the technological possibilities and less about the “hype” surrounding the projects in development. During the time of publication of this Financial Times article, discussions had already started on how to upgrade the blockchain infrastructure to handle a wider range of transactions.

Furthermore, other topics were discussed, such as digital ownership of physical assets, distributed digital marketplaces, and alternative blockchains. Previous topics, such as Ethereum and sidechains, are touched upon again in this specific article, but from a different and more professional angle. Perhaps the different writing style pleased the Hacking Team CEO more than the Techcrunch writeup.

What are your thoughts on Hacking Team keeping a close eye on the evolution of Bitcoin and the ecosystem? Do you agree with the views of David Vincenzetti? Let us know in the comments below!

Source: Wikileaks

Images courtesy of Wikileaks, Hacking Team, Shutterstock

The post Hacking Team Kept A Close Eye On The Bitcoin Ecosystem Evolution appeared first on Bitcoinist.net.

Hacking Team Kept A Close Eye On The Bitcoin Ecosystem Evolution