Bitcoin Core was originally known as simply “Bitcoin” when it was published online by Satoshi Nakamoto in 2009. Later, it was named Bitcoin-Qt. Today, it’s mostly known as Bitcoin Core, and sometimes as the “Satoshi Client”.
The platform is the original BTC client and is available for Windows, Mac and Linux. Core is a ‘full node’ Bitcoin client, meaning that on first-run it will download the current version of the blockchain (currently around 160GB) by connecting to other nodes. It will then continue to download and process data about Bitcoin transactions.
In order to use the wallet client that comes with Bitcoin Core, you will first need to download Bitcoin Core. However, before you download the software, it’s important to make sure that your computer meets the necessary criteria to run Bitcoin Core. Although it’s possible to run on “bare minimum” settings, the recommended minimum requirements include:
- At least 145GB disk space
- Download capacity of 500MB/day (15GB/month), plus a one-time 140GB download the first time you launch Bitcoin Core
- Upload speed of 5GB/day (150GB/month)
- 1GB RAM
- Desktop, laptop, or compatible ARM chipset
- Windows 7/8.x/10, Mac OS X, or Linux operating system
It is free to download and use, but it will cost you some time, bandwidth and hard-drive space. While the software itself is free, you’ll have to pay transaction fees in order to send and receive bitcoin. You do have the option to set your own fees on a sliding scale, based on transaction priority.
You have the total control of your wallet and the private key is also generated by you and no third party can have a look at your wallet balance too. You have to manage it all yourself and no one can ever hack your wallet and take the Bitcoins out of it.
Bitcoin Core has guided the development of bitcoin for 9 years. Originally released by Satoshi Nakamoto in 2009, Bitcoin Core has continued to be the preferred bitcoin protocol for the majority of the community.