Crypto WOTD — Nodes
Good aftenoon cappies! Today will be a fairly short and simple word for us to explore
“A node, in the world of digital currency, is a computer that connects to a cryptocurrency network.”
Let's focus on the main 2 commonly mentioned nodes
Full Nodes — Using Bitcoin as an example, full nodes are the ones that really support and provide security to Bitcoin, and they are indispensable to the network. Other functions a full node may perform includes
-> Verifying transactions and blocks against the system’s consensus rules
-> Relay new transactions and blocks to the blockchain
This is why full nodes are also sometimes referred to as fully validating nodes
Lightweight nodes — They are used in day to day crypto operations. They communicate with the blockchain while relying on full nodes to provide them with the necessary information. As they don’t store a copy of the chain, they only query the current status for which block is last, and broadcast transactions for processing. They are also referred to as the Simple Payment Verification (SPV) node.
Imagine you are the head of the Police Special Ops team — You send your men into the field to take retrieve a special package (a limited edition Platinum Bunny) from the hands of your enemies. You have SWAT team with full tactical gear (Full Nodes), and always men with light gear (Lightweight Nodes) to cover the entire area. All of them are connected via the comms system (blockchain) and can communicate with each other. You send your SWAT team (Full nodes) to clean out the area and execute the mission ops, whearas your light men (lightweight gear) watch and report ground situations back to you!
Well, I hope the mini example helped in understanding nodes better 😆 As always, Google and th3cappy is always your best friend !