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Getting Started To join the bitcoin network and start using the currency, all a user has to do is download an application or use a web application. Since bitcoin is a standard, there are many implementations of the bitcoin client software. There is also a “reference implementa‐ tion”, also known as the Satoshi Client, which is managed as an open source project by a team of developers and is derived from the original implementation written by Satoshi Nakamoto. The three primary forms of bitcoin clients are: Full Client A full client, or “full node” is a client that stores the entire history of bitcoin trans‐ actions (every transaction by every user, ever), manages the user’s wallets and can initiate transactions directly on the bitcoin network. This is similar to a standalone email server, in that it handles all aspects of the protocol without relying on any other servers or third party services. Light Client A lightweight client stores the user’s wallet but relies on third-party owned servers for access to the bitcoin transactions and network. The light client does not store a full copy of all transactions and therefore must trust the third party servers for transaction validation. This is similar to a standalone email client that connects to a mail server for access to a mailbox, in that it relies on a third party for interactions with the network. Web Client Web-clients are accessed through a web browser and store the user’s wallet on a server owned by a third party. This is similar to webmail in that it relies entirely on a third party server. Mobile Bitcoin Mobile clients for smartphones, such as those based on the Android system, can either operate as full clients, light clients or web clients. Some mobile clients are synchronized with a web or desktop client, providing a multi-platform wallet across multiple devices but with a common source of funds. The choice of bitcoin client depends on how much control the user wants over funds. A full client will offer the highest level of control and independence for the user, but in turn puts the burden of backups and security on the user. On the other end of the range of choices, a web client is the easiest to set up and use, but the tradeoff with a web client is that counterparty risk is introduced because security and control is shared by the user and the owner of the web service. If a web-wallet service is compromised, as many have 6 | Chapter 1: IntroductionPDF Image | Mastering Bitcoin
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