Categories
Blockchain Technology

Back to the Stone Age

Every single time you are filled with techno-optimism in Nigeria, there comes a government policy to put a lid on it.

In Nigeria, the prevailing rule is that whatever they cannot own or control, the government will seek to destroy.

Today, the government through the CBN struck another area of the economy by banning the purchase of cryptocurrencies using the banks.

To be honest, it was inevitable as cryptocurrencies where used in funding the EndSARS protests that held in the country last year.

This might slow down adoption of cryptocurrencies but it will not end them. They alternative is to go peer to peer the way it was always intended for cryptocurrencies.

Categories
Blockchain Technology

SpaceBox Bitcoin Node Kit

Having spent close to a decade in the tech ecosystem in Africa, I can safely say that not much excites me in the industry.

However, since I heard about Blockchain Technology, I have been excited by its possibilities. I joined the Blockchain Nigeria User Group (BNUG) and also finished the course from the University of Nicosia.

It would be there that I would get to follow the process of development of a Bitcoin node that uses solar electricity by by Chimezie Chuta of Blockspace Technologies. Chimezie Chuta is also the Founder and Coordinator of Blockchain Nigeria User Group (BNUG).

I remember my excitement when he shared the news with the group and would share the video of the first version which you can find on Twitter.

Development has continued until the prototype has evolved into SpaceBox.

SpaceBox is a kit that allows a user run a full Bitcoin node. In short you can mine your own Bitcoin using it making it a powerful use case for Bitcoin technology on the continent. It is not for Bitcoin mining rather, full Bitcoin Lightning Network node operation.

Whereas miners validate and create new coins with hashpower, node operators maintain the Blockchain records and process Lightning Payments between channels.

SpaceBox

The SpaceBox is powered by the Raspiblitz which is basically a Raspberry Pi configured to run a Bitcoin node. The rest of the kit comprises solar panels, batteries, and a voltage regulator.

As the arms race for Bitcoin mining continues to support expensive hardware, SpaceBox is a no frills example of what great technology is all about. It levels the playing field for Bitcoin mining allowing Africans to participate.

Components of the SpaceBox Bitcoin Node Kit

If you would like to support the project, there is a fundraiser currently on Tallycoin.