Conclusion

https://player.vimeo. com/video/648437574

Understanding the function of the network, and the incentive structure that binds it together will ensure that new services are built that best make use of its capabilities. Understanding that the node’s function is as a validation and timestamping service, that blocks are timestamped records of transactions on the ledger, and that the ledger, particularly the UTXO set, is a tool maintained by node operators.

The Bitcoin network’s delicate economics are not hard to skew and minor changes to software can have vast impacts on network performance. It is paramount that Bitcoin be built and operated as infrastructure, and that it operates using the incentive structure and instructions laid out in the Bitcoin white paper. Continuous work must happen to build future generations of node client software and services in order to give the network the best chance of succeeding.

In completing this course, we hope you have taken a giant leap in your understanding of Bitcoin. From everyone here at the Bitcoin Academy team, thank you.