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The period configuration option sets the target block time of the chain. The initial mining difficulty is influenced using the difficulty parameter, but note that the difficulty adjustment algorithm will quickly adapt to the amount of mining resources deployed on the chain. This requires the path to genesis. For example: geth --datadir data --networkid Scheduling Hard Forks As Ethereum protocol development progresses, new features become available.

To enable these features on an existing private network, a hard fork must be scheduled. To do this, a future block number must be chosen which determines precisely when the hard fork will activate. Continuing the genesis. First, all the Geth instances on the private network must be recent enough to support the specific hard fork.

If so, genesis. The Geth instances are then shut down and geth init is run to update their configuration. When the nodes are restarted they will pick up where they left off and run normally until block , at which point they will automatically upgrade. The modification to genesis. This requires a bootstrap node.

The bootstrap node is a normal node that is designated to be the entry point that other nodes use to join the network. Any node can be chosen to be the bootstrap node. To configure a bootstrap node, the IP address of the machine the bootstrap node will run on must be known. The bootsrap node needs to know its own IP address so that it can broadcast it to other nodes.

On a local machine this can be found using tools such as ifconfig and on cloud instances such as Amazon EC2 the IP address of the virtual machine can be found in the management console. The bootstrap node IP is set using the --nat flag the command below contains an example address - replace it with the correct one.

Other nodes will use the information contained in the bootstrap node record to connect to the peer-to-peer network. If Internet connectivity is not required or all member nodes connect using well-known IPs, Geth should be set up to restrict peer-to-peer connectivity to an IP subnet.

Doing so will further isolate the network and prevents cross-connecting with other blockchain networks in case the nodes are reachable from the Internet. Running Member Nodes Before running a member node, it must be initialized with the same genesis file as used for the bootstrap node. It may take up to a few seconds for the nodes to get connected.

The account must already be available as a keyfile in the keystore. To use it for signing blocks, it must be unlocked. End-to-end example This section will run through the commands for setting up a simple private network of two nodes. Both nodes will run on the local machine using the same genesis block and network ID. The data directories for each node will be named node1 and node2.

The following command creates an account for Node 1: geth --datadir node1 account new This command returns a request for a password. Once a password has been provided the following information is returned to the terminal: Your new account is locked with a password. Please give a password. Do not foget this password. Others need it to interact with you. The key controls access to your funds!

Without the key, it's impossible to access account funds! Without the password, it's impossible to decrypt the key! The keyfile and account password should be backed up securely. These steps can then be repeated for Node 2. These commands create keyfiles that are stored in the keystore directory in node1 and node2 data directories. In each data directory save a copy of the following genesis. The account addresses in the alloc field should be replaced with those created for each node in the previous step without the leading 0x.

The following will be returned to the terminal: INFO [ This can be any node, but for this tutorial the developer tool bootnode will be used to quickly and easily configure a dedicated bootnode. First the bootnode requires a key, which can be created with the following command, which will save a key to boot. We recommend using a regular node as bootstrap node for production deployments. INFO [ Open separate terminals for each node, leaving the bootnode running in the original terminal.

With just an internet connection, you can send, receive, borrow, earn interest, and even stream funds anywhere in the world. Explore DeFi The internet of assets Ethereum isn't just for digital money. Anything you can own can be represented, traded and put to use as non-fungible tokens NFTs. You can tokenise your art and get royalties automatically every time it's re-sold.

Or use a token for something you own to take out a loan. The possibilities are growing all the time. More on NFTs An open internet Today, we gain access to 'free' internet services by giving up control of our personal data.

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