Bitcoin Mempool Fee Analysis

Getting information by running our own node (pruned signet).

Install and Run a Pruned Bitcoin Core Node on Ubuntu

For Ubuntu (or any similar Linux distribution), follow these concise steps to install and run a Bitcoin Core node in pruned mode, specifically for the Signet test network, without downloading the entire blockchain.

Install Dependencies

Open a terminal and run:

sudo apt-get update
sudo apt-get install build-essential libtool autotools-dev automake pkg-config bsdmainutils python3
sudo apt-get install libssl-dev libevent-dev libboost-system-dev libboost-filesystem-dev libboost-chrono-dev libboost-test-dev libboost-thread-dev

Download Bitcoin Core

Check the latest release version of Bitcoin Core suitable for Linux on Bitcoin Core’s releases page on GitHub. Download and extract it with:

wget https://bitcoincore.org/bin/bitcoin-core-<version>/bitcoin-<version>-x86_64-linux-gnu.tar.gz
tar -xzvf bitcoin-<version>-x86_64-linux-gnu.tar.gz

Replace <version> with the latest version number.

Install

Navigate to the extracted directory and install:

sudo install -m 0755 -o root -g root -t /usr/local/bin bitcoin-<version>/bin/*

Configure Bitcoin Core

Create the Bitcoin data directory and the configuration file:

mkdir ~/.bitcoin
nano ~/.bitcoin/bitcoin.conf

Add the following lines to the bitcoin.conf file:

signet=1
prune=550 # You can adjust the prune size as needed, minimum 550
rpcuser=rpc_username
rpcpassword=rpc_password

Run Bitcoin Core

Start Bitcoin Core in daemon mode:

bitcoind -daemon

bitcoin-cli -signet stop