Twitter CEO Jack Dorsey is planning to help validate the Bitcoin blockchain by posting pictures of his node synchronization that is in progress.
A news publication on cointelegraph stated that Jack Dorsey, who is the Twitter founder and CEO, has his own node synchronization in progress. Dorsey, who is a massive supporter of Bitcoin on par with Musk, has decided to have his own Bitcoin (BTC) node.
The tech billionaire posted a screenshot of a Bitcoin node software, Bitcoind operating on his PC. Dorsey posted a picture of that on February 5th, giving investors, traders, and his followers alike a glimpse of the things to come.
Fuzzy.One supply chain and information engineering service had this to tweet on Twitter CEO Jack Dorsey firing up a full Bitcoin node.
It merely means that Dorsey wants to lend his support to the process of the Bitcoin transactions. The Twitter CEO posted a picture using the words, Running Bitcoin. It shows his computer synchronizing the Bitcoin blockchain.
To do that, users have to download the entire history of the chain to date. As of now, the bitcoin blockchain is a colossal 325GB. This process could take weeks, depending on the speed of his computer system.
Of course, the internet speed will also have a huge say on it. If you look at the picture posted on his Twitter handle closely, you can see his system has managed only 2% till now. Jack was asked about running the node using a dedicated Raspberry Pi.
Jack said that he is using an M1 MacBook chip, the latest from the makers of Apple. There is a significant difference between the bitcoin nodes and miners. In the case of the bitcoin nodes, they do not compete for a share in block rewards.
Every node can effortlessly host another immutable copy of the blockchain. This immensely helps in increasing network security. Bitcoin nodes have been fluctuating, and they are landing in the region of 7,000 and 11,000.
The node count has also increased massively. According to data received by Cointelegraph, more than 11000 Bitcoin nodes were working on January 20th, 2021. The number is dropping quite low to more than 7,000 as of now.