In the context of the Bitcoin blockchain, a Node is a program supporting the key functions of Bitcoin – validating transactions and blocks that store transactions. Validated blocks are added to blockchain, which continues to grow. So running a Node helps support and grow Bitcoin. Nodes act either as a communication endpoint or as a… Continue reading What is a Node?
Month: September 2022
How to run a node
What you’ll learn What a node is & why they are important The difference between a full & light node The basic technical requirements are for running a node A high-level step-by-guide to enable for running a node Learn Crypto’s section on using cryptocurrency has so far covered the basics from the perspective of someone… Continue reading How to run a node
Smart Contracts to Control the System
MakerDAO is a self-governing protocol, and the native MKR token allows token holders to make changes to the Maker Protocol through a voting process which is written in a smart contract. These changes include: What should be the stability fee (or the annual borrowing rate)? How much collateral should back a CDP? To shut down… Continue reading Smart Contracts to Control the System
How to Use and Interact with Smart Contracts Effectively
Smart contracts on Ethereum platforms represent and manage tokens. The MakerDao protocol, for example, is the backbone of the DeFi sector. The project is a big part of the DeFi ecosystem because out of $1 billion of locked ETH in the DeFi market, 60% of ETH is held in MakerDAO. DAI is the primary product… Continue reading How to Use and Interact with Smart Contracts Effectively
What is a Smart Contract?
Smart Contracts are self-executing programs running on a blockchain network, with the terms of the contracts between two parties – such as a seller and buyer – written into lines of code, rather than a formal, legal document. The goal is to simplify business and trade between both identified and anonymous parties without needing an… Continue reading What is a Smart Contract?
How to use DEFI lending protocols
What you’ll learn What a smart contract is & why they are important The most common smart contract use cases How to guide for interacting with a DEFI Smart Contract Smart Contracts for more complex use cases After several years of consolidation around the crypto space, emerging innovative protocols are finally starting to draw interest,… Continue reading How to use DEFI lending protocols
How big can the Lightning Network get?
Lightning Network has been growing nicely even though most mainstream businesses are still yet to start accepting payment over lightning. 1ML is a great resource to fetch real-time data of the Lightning Network, which now span 0ver 20,000 nodes and more than 45,000 Lightning channels created. See a map by Blockchain Caffe showing the locations… Continue reading How big can the Lightning Network get?
Practical scenarios of creating and settling invoices
Now that you have your Lightning wallet funded, you can start creating or settling invoices on Lightning Network. To make a payment, you will need to open a channel. For that, you need to know your partner’s channel public key and their IP address. Since you’re working in a testnet environment, we’ve made available some… Continue reading Practical scenarios of creating and settling invoices
3- How to set up a full node on the Lightning network
Follow the steps below to set up and your full lightning network node. 1. Download the client through the Lightning project Github profile If you use Windows, download Lightning-win32 for Mac OS; try Lightning-darwin. 1. Download lightning client 2. Run the client 3. It asks you if you want to create a new wallet or import… Continue reading 3- How to set up a full node on the Lightning network
2 – Setting up a non-custodial Lightning wallet
Setting up a non-custodial wallet is a more leisurely approach to connect to the Lightning Network if you don’t want the full-node experience. Simply download the Bitcoin Lightning Wallet app on your Android phone or the Blue Wallet, which works perfectly for iOS and Android, and you can start creating and settling invoices. With this, you can open… Continue reading 2 – Setting up a non-custodial Lightning wallet