Using this implementation of the Electrum server protocol, users seeking a full node connection can interact with all traditional Electrum wallet features while running a Bitcoin full node instead of downloading an Electrum server. It was released on 5 November 2011 by open-source programmer Christian Belcher, who is known for his contributions to JoinMarket. Electrum is a lightweight Bitcoin client based on a client-server protocol. The Electrum Personal Server aims to be a resource-efficient, secure and private way to use Bitcoin with hardware and software wallets connected to full nodes. If you’re running a node in a Box like Umbrel, you’ll be automatically prompted to install Electrum after you’ve added Bitcoin core so you can connect your node to the wallet of your choice. This can further reduce the resources required to run EPS. This makes it much more efficient with resources and does not need extra data files.ĮPS is also compatible with Bitcoin Core’s pruning feature, which allows you to delete old blocks from your full node without affecting your ability to use it. It only tracks the user’s own wallets, so it does not need to create a database of every transaction and address ever used on the Bitcoin blockchain. EPS is a fork of the ElectrumX server, but it has been modified to be more lightweight and efficient. This gives you the benefits of using a full node, such as increased security and privacy, without having to download the entire Bitcoin blockchain. An Electrum Personal Server (EPS) is a lightweight server that allows you to connect your Electrum wallet to your own full node. If you’ve gone through all that effort, you’ll want to make use of it, and that’s where having an Electrum server comes into play. This can take days to fully sync and require a significant amount of bandwidth each month to maintain, along with the CPU power needed to validate all transactions and blocks on the network. While full nodes are the most secure, they are also more resource-intensive, requiring hundreds of gigs and growing each year. When you spin up your node, you will have to start by running Bitcoin Core and downloading a copy of the blockchain. Why The Need for an Electrum Personal Server? You would need to download the entire blockchain, maintain a copy and keep it synchronised with new blocks for your node to be effective. While running a node is important, it does require you to offer up a dedicated device like a node in a box or using an old laptop or virtual machine to run. Still, if you’re connected directly, it becomes much harder to enforce censorship. If a government or other entity tries to block access to the Bitcoin network, these entities can easily block access to third-party nodes. Running your own Bitcoin node also makes you more resistant to censorship. However, if you run your own node, you can verify the validity of transactions and block yourself without relying on anyone else. When you use a light wallet or a third-party node, you are trusting that those nodes are not malicious and that they are reporting accurate information about the Bitcoin network. While many first-time Bitcoiners are rightly concerned with the movement of funds and what they see on the screen, they fail to appreciate what goes on in the background and how exactly Bitcoin ownership works. It eliminates custodians and intermediaries and gives you the highest level of security possible since you’re interacting directly with the chain. Running your own Bitcoin node is the best way to grasp the Bitcoin experience and what is involved in managing your own money.
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