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Mastering Bitcoin

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Mastering Bitcoin ( mastering-bitcoin )

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Full blockchain nodes maintain a complete and up-to-date copy of the bitcoin block‐ chain with all the transactions, which they independently build and verify, starting with the very first block (genesis block) and building up to the latest known block in the network. A full blockchain node can independently and authoritatively verify any transaction without recourse or reliance on any other node or source of information. The full blockchain node relies on the network to receive updates about new blocks of transactions, which it then verifies and incorporates into its local copy of the blockchain. Running a full blockchain node gives you the pure bitcoin experience: independent verification of all transactions without the need to rely on, or trust, any other systems. It’s easy to tell if you’re running a full node because it requires 20 plus gigabytes of persistent storage (disk space) to store the full blockchain. If you need a lot of disk and it takes 2-3 days to “sync” to the network, you are running a full node. That is the price of complete independence and freedom from central authority. There are a few alternative implementations of full-blockchain bitcoin clients, built using different programming languages and software architectures. However, the most common implementation is the reference client Bitcoin Core, also known as the Satoshi Client. More than 90% of the nodes on the bitcoin network run various versions of Bitcoin Core. It is identified as “Satoshi” in the sub-version string sent in the version message and shown by the command getpeerinfo as we saw above, for example / Satoshi:0.8.6/. Exchanging “Inventory” The first thing a full node will do once it connects to peers is try to construct a complete blockchain. If it is a brand-new node and has no blockchain at all, then it only knows one block (the genesis block), which is statically embedded in the client software. Start‐ ing with block #0, the genesis block, the new node will have to download hundreds of thousands of blocks to synchronize with the network and re-establish the full block‐ chain. The process of “syncing” the blockchain starts with the version message, as that con‐ tains BestHeight, a node’s current blockchain height (number of blocks). A node will see the version messages from its peers, know how many blocks they each have and be able to compare to how many blocks it has in its own blockchain. Peered nodes will exchange a getblocks message that contains the hash (fingerprint) of the top block on their local blockchain. One of the peers will be able to identify the received hash as belonging to a block that is not at the top, but rather belongs to an older block, thus deducing that its own local blockchain is longer than its peer’s. The peer that has the longer blockchain has more blocks than the other node and can identify which blocks the other node needs in order to “catch up”. It will identify the first 500 blocks to share and transmit their hashes using an inv (inventory) message. The 148 | Chapter 6: The Bitcoin Network

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