Hi people. I’m interested in decentralized currency and going to either participate in development of this one or develop my own version. Before making a decision i want to clarify few technical aspects, which is not clear from documentation. Partially this is just because english is not my native language, but anyway :).
0) Is it necessary to run a node if i want to have a wallet? Is it necessarily attached to some exact node or i can keep my wallet on flash drive for example and use it with any node? Where and in which form my account balance is stored?
1) Do i need to download whole network transactions log to be able to validate received coins?
2) How user protected from potential situation when some node is hacked(or modified) and using his id (public key) to send money from his account? It looks possible when everything is sychronyzed between everybody.
3) Which data exactly passed between 2 nodes during transaction? (or just show me place in source code where to look)
4) Can somebody please write more details about transaction fee: why is it needed, how and in which cases it’s used and so on.
5) Is there any any plans on decentralizing node list (i have figured out from irc that bitcoin is currently not really decentralized, because nodes getting in touch by joining irc channel on freenode).
6) Do i correctly understand that after some point in time nobody will have ability to generate new coins? we’ll just use fixed amount of existing ones.Thanks for you answers.
3) Nothing, if sending by bitcoin address
5) It is decentralised. After you have connected to the network the first time, you no longer need IRC.
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https://bitcointalk.org/index.php?topic=179.msg1588#msg1588