On February 6, Bluesky, a decentralized alternative to social network X backed by Twitter co-founder and ex-CEO Jack Dorsey, went public after beta testing with more than 3 million users.

 

News details

coinex.com

2 min

February 6, 2024

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On February 6, Bluesky, a decentralized alternative to social network X backed by Twitter co-founder and ex-CEO Jack Dorsey, went public after beta testing with more than 3 million users. 

You can now sign up for Bluesky without an invite! 🎉https://t.co/rUyMjYVEkt pic.twitter.com/PaT4Z6hJnu

— bluesky (@bluesky)

“When you go to Bluesky, it may seem familiar - the user experience should be simple. But internally it's designed to put control [of the tape] back in your hands. Here, your online experience is not at the disposal of one company. Whether it’s a time period or content filters, Bluesky allows you to easily customize your personal social experience,” says the project’s blog. 

Alternative Approach

The interface and functionality of the social network really resemble early Twitter. The platform logo is a white butterfly on a blue background. 

Jack Dorsey profile. Data: Bluesky.

However, according to the developers, Bluesky's algorithms and moderation mechanisms differ significantly from the approach of its competitors. The project is built on the decentralized AT Protocol, which is “virtually uncensored and does not collect personal data.”

According to a Bluesky press release, an experimental "Federation" feature will be available in February, allowing users to connect to private servers within the platform's ecosystem.

The Federation architecture includes three main parts: 

• personal data servers (PDS);
• repeater; 
• App View - content that is displayed to users.

“AT Protocol is designed on the principle of “big world with small fallbacks” as the most open network. On the Internet, individual computers upload content online, and then all of that content is streamed back to other computers. Similarly, using our protocol, we send messages to a much smaller number of large aggregators, which transmit them to PDS,” the developers explained . 

Personal data servers send the received information to a relay, which then filters the content for a specific user. After this, suitable posts are displayed in the feed in the form of a so-called App View. 

The mechanism of the Federation's work. Data: Bluesky.

User Experience

When registering on a social network, the user is immediately prompted to select several areas of interest in the form of tags. Based on the selection, the algorithm will also select suitable accounts to follow. 

In addition, Bluesky has implemented a system of feed channels that relay content on a specific topic. 

Feeds tab. Data: Bluesky.

The social network’s personalized moderation mechanism, in which algorithms and users themselves mark specific content, allows you to customize its display in the feed.

Filter system. Data: Bluesky.

Dorsey first announced the project of a decentralized social media platform in 2019. In February 2022, the Bluesky PBLLC organization was born .

In April, after Twitter management decided to sell the social network to billionaire Elon Musk, Bluesky recalled its independence . 

Dorsey's project later raised $8 million in a seed round led by Neo. 

Let us remind you that from January 25 to February 3, 2024, the number of active users of the Farcaster Web3 platform increased ninefold - from 2,700 to 25,000. The number of content authors in social applications based on the protocol increased from 2,400 to 19,100.

 

How many bitcoins does Satoshi have? BTC Creator Wallet Address

By Live 

binance.com

4 min

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The story of Bitcoin creator Satoshi Nakamoto is one of the most fascinating mysteries of recent decades . Despite the fact that Satoshi invented a technology that had a great impact on the world and mined billions of dollars of Bitcoin, he remains completely anonymous and does not touch his wealth.

* Satoshi Nakamoto is the pseudonym of the person or group of people who developed the bitcoin cryptocurrency protocol and created the first version of the software

The reason why we can say that Satoshi did not spend his bitcoins is that researchers were able to identify addresses that most likely belonged to him.

In this article we will look at the most interesting facts about Satoshi Nakamoto’s wallets and addresses.

Satoshi Nakamoto wallets:

Satoshi used a huge number of addresses; some estimates suggest he may have had over 20,000 different addresses. He used a separate address to receive each block reward, and since he was the most famous miner in the early days of Bitcoin, he received a large number of block rewards.

Most of Satoshi Nakamoto's Bitcoin wallets are not particularly interesting, except for the fact that they belong to the creator of Bitcoin. Most of them simply received the 50 BTC per block reward and remained inactive.

However, there are several Satoshi Nakamoto wallet addresses that have interesting stories.

Address "Hal Finney"

One of the more interesting addresses controlled by Satoshi is the address he used to send 10 BTC to Hal Finney. This was the first Bitcoin transaction between two users, as all previous transactions were simply miners (mostly Satoshi) receiving block rewards from the Bitcoin protocol.

This address currently holds 18.43 BTC, which at the current price is around $482,000. The balance of this address is slowly growing over time as it receives BTC transactions from time to time, most likely from people paying tribute to Satoshi for his revolutionary invention .

The last time this address sent an outgoing transaction was January 12, 2009, just three days after Bitcoin launched.

Bitcoin creation address

The most famous of Satoshi's addresses is the Bitcoin creation address. This is the address that mined the first block in the Bitcoin blockchain. Satoshi Nakamoto's wallet balance is 72.6 BTC, which at current prices is approximately $2 million. Similar to the address discussed earlier, the Bitcoin creation address receives BTC as tribute from users from time to time.

An interesting fact about the Bitcoin creation address is that the 50 BTC received as a reward for mining the genesis block cannot be spent. According to the explanation provided by Charles Hoskinson, these BTC cannot be spent because Satoshi did not add the coinbase genesis block transaction to the global transaction database that Bitcoin nodes use. Hoskinson added that he is not sure whether this was an intentional move by Satoshi or just a mistake.

However, the remaining BTC on addresses controlled by Satoshi Nakamoto can be spent as usual. So far, Satoshi has not spent his Bitcoins, which is why many people are speculating that he may be dead.

Because Satoshi wanted to remain in the shadows, it is impossible to confirm with 100% certainty that the addresses that likely belong to Satoshi Nakamoto actually belong to him. However, blockchain researchers have put a lot of effort and time into figuring out the addresses most likely belonging to Satoshi.

For example, researcher Sergio Damian Lerner estimated that Satoshi Nakamoto mined about 1.1 million BTC. Lerner came to this estimate by identifying a pattern in the way Bitcoin blocks were mined during the period when Satoshi was active. This "Patoshi" pattern allowed him to distinguish with great confidence blocks likely mined by Satoshi from blocks likely mined by others.

BitMEX Research said in 2018 that an estimate in the range of 600,000 to 700,000 BTC is more likely than Lerner's estimate of 1.1 million BTC. Even if we use BitMEX Research's more conservative estimate of 600,000 BTC, Satoshi still owns $15.7 billion worth of Bitcoin.

There are probably many experienced traders in the cryptocurrency market tracking addresses that likely belong to Satoshi Nakamoto. If Satoshi were to suddenly activate one or more of his dormant wallets, it would likely be a huge event in the cryptocurrency market.

There have already been cases where Satoshi-era bitcoins began to move, but these transactions did not originate from addresses that are believed to belong to Satoshi.

Bottom line - Satoshi Nakamoto has thousands of Bitcoin addresses

Regardless of which estimate we use, it is clear that Satoshi Nakamoto has thousands of different Bitcoin addresses.

Most of his wallets are not very prominent, as they were simply used to obtain block rewards and remained inactive. However, if we ever see transactions from wallets that are believed to belong to Satoshi, we may see some distinctive pattern that will help us verify their authenticity.

 

What are nodes and how to make money on them

cryptonews.net

6 min

August 5, 2023

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Blockchain nodes are nodes that perform various functions in the network. They play an important role in ensuring the security and consistency of distributed ledger data. Nodes are computers on the blockchain that broadcast transactions to other participants for confirmation. Being part of a distributed network, a node is one of the devices that controls it.

Nodes store transaction blocks, which serve as an archive for recovery, and also add new blocks. Changes are reflected in each node of the blockchain, which confirms similar transactions in the network.

Types of blockchain nodes

There are different types of nodes in the blockchain depending on their functions:

Full Nodes

These nodes are fully synchronized with the blockchain and store the entire block history. They verify signatures to confirm transactions and blocks, ensure the reliability and security of the blockchain, and also serve as a backup of all data and restore transactions in cases such as power outages or system failures.

Full nodes constantly exchange information about newly added operations, and to run such a node and process a large amount of data, the user needs a device with sufficient computing power.

Having a full node allows the user to independently check incoming transfers, and if desired, he can also become a participant in the mining of cryptocurrencies.

Lightweight nodes

A lightweight node stores partial blockchain data. In these cases, only the block headers are loaded. Light nodes use Simplified Payment Verification (SPV) to confirm transactions. They have the advantage of being easy to maintain and run, but they require full nodes to access the entire history of the blockchain.

Mining Nodes

These nodes carry out the work of creating new blocks in the blockchain. They are designed to solve the problem of proof of work (Proof-Of-Work consensus algorithm, PoW) and cryptocurrency mining. Unlike full nodes, mining nodes provide rewards for their owners. Mining nodes often use specialized hardware and consume large amounts of energy.

Staking nodes

They are an analogue of mining nodes for blockchains with the Proof of Stake (PoS) consensus algorithm. In this case, the owner is rewarded for holding coins in the account, not for calculations, and powerful equipment is not required to run.

Supernodes, listening nodes

A supernode is a full-fledged node that stores blockchain data and serves as its communication line. Transaction data and additional historical information are transmitted through supernodes. A supernode requires a fast Internet connection and high computing power to operate.

Masternodes

A masternode, like a full node, stores all information from the blockchain and is synchronized with it, but can also ensure the anonymity of transactions by splitting them. To launch a masternode, the user needs to block a certain amount of native blockchain coins as collateral. For its management, the system accrues a portion of the commissions paid to miners. The masternode owner participates in project management.

Authority nodes

Authoritative nodes are chosen by blockchain participants to govern and are vetted to ensure they can fulfill that role. Most blockchain systems use a proof of authority system, and approved nodes have full identity information, unlike anonymous nodes. In some blockchain systems, there are no authoritative nodes.

Archival full nodes

Such nodes operate in archive mode and store all transactions for the block to which they belong. Clients of full nodes use them to quickly access information about smart contracts on the first 200 blocks. Finding blocks on the network requires accurate reference data, so each blockchain address directs the full node user to this data.

Why do you need to run nodes?

A few main reasons to run a node:

• Confirmation of new blocks. Running a node is required to confirm and maintain the integrity of new transaction blocks. A user can run multiple nodes to perform the same function.
• Ensuring control over transactions. Managing a blockchain node gives the user full control over operations, without the participation of third parties.
• Opportunity to participate in blockchain maintenance as a node owner. Some of the maintenance issues are the security and accuracy of online transactions.
• Low startup costs (excluding mining). The requirements for some nodes can be met using a regular PC. Costs can be reduced by operating as a standalone node.

How to start a node

To run a node on the blockchain, you need to download the appropriate software or use cloud services offered by various blockchain platforms. The exact instructions for running a node will depend on the project you choose.

All blockchains have nodes that operate online. Anyone can manage a node with access to the blockchain's transaction history. Most node admins are volunteer crypto enthusiasts.

When starting a node, it is important to take several factors into account:

• Hardware requirements. Running a node may require certain system requirements. The user should study the available documentation of the selected blockchain platform to find out detailed information about the required resources.
• Network bandwidth. Running a node may also require a stable and high-speed Internet connection, especially if the user intends to run full or mining nodes.
• Software installation and configuration. The user will need to download and install the software that is used to run the node. It is important to follow the instructions provided by the developers or the blockchain community to configure the node correctly.
• Safety. When running a node on the blockchain, it is important to ensure the security of your data and funds. The user will be required to create secure passwords, install necessary firewalls, and take other security measures.

How nodes protect the blockchain

• They are open source, providing a consistent experience across the entire blockchain infrastructure. Different node types are differentiated by software privileges and hardware power. The network uses the P2P communication protocol.
• Nodes are interdependent. They depend on each other when adding new blocks and validating transactions. Thus, a block is a collection of network transactions.
• Nodes store the current history of blockchain transactions on a distributed network. Thus, each node stores a copy of operations.
• All users can access data on the blockchain. Node transactions are visible to all users. They store the same history of transactions on the network. The node acts as a distributed backup. When a blockchain network fails, one node can restore a block.

How nodes ensure decentralization of cryptocurrencies

Blockchain operates on a decentralized model. Nodes exchange information and update each other automatically. Inactive nodes receive similar updates as soon as they come online. They have a unique identifier called a hash.

Nodes participate in the management of the blockchain infrastructure without a leadership figure, and also store blocks and transactions in them, which ensures the availability of all data even if one or more nodes fail.

How to make money on nodes

As for making money on nodes, it depends on the specific blockchain. In the case of mining nodes, the user can receive rewards for creating new blocks and processing transactions. In systems with a PoS algorithm, validation nodes can earn money by holding a certain number of blockchain tokens and participating in the transaction approval process.

However, profitability and rewards on nodes may vary depending on various factors such as the consensus algorithm, network complexity and the number of participants. Before launching a node to make money, it is recommended to conduct additional research and become familiar with the rules and features of the chosen platform or blockchain.