A basic understanding of Blockchain Nodes
The node is a client and a server managed in a single software application. It can run either as both or disable one.
Decentralized networks such as blockchains rely on nodes that are run by the participants in the network. Nodes manage network access and protect its presence by maintaining copies of the database and checking data (transactions and blocks) on it in compliance with a set of laws.
A node provides all the features required to help in block mining and synchronization, sending transactions, etc. If a node is enabled, it will search for other nodes to connect with and access the Blockchain ‘s latest state.
The consensus in a Decentralized Network
The Bitcoin network is a peer-to-peer based solution. There is no central point or server that controls how users move the data, and there is no central database where the data is processed. Hence, every node has to download and synchronize the whole blockchain.
What is the difference between Bitcoin and Ethereum Nodes?
Once the node starts running it checks the list of the last IP addresses connected to synchronize with them. With the last block, this collection will be broadcasted. If no list is saved, the node pings the list of well-known IPs connected to the network. Since 2010 this list is hardcoded. DNS seeding is the last step to searching for a node in the network.
Bitcoin Nodes — For every protocol, the reasons for running a node vary. The main incentive for Bitcoin to run a node is to eliminate your dependency on trusting a third party. You will also be able to verify transactions with the Bitcoin blockchain directly.
Ethereum Nodes — Ethereum is the second most commonly used public blockchain, popular for issuing tokens and running decentralized applications. Most functionalities are based on “smart contracts” which are explicitly based on the blockchain.
The Ethereum network has a history of being overloaded with requests. If you rely on a safe, verifiable, and quick access to Ethereum, you need to run a node on it.
There are two main types of nodes, Full nodes and Light nodes. Another term to describe nodes is that of clients providing wallet functions. Full nodes contain a copy of the history of the blockchain including all the blocks that were created. Light nodes or ‘Simple Payment Verification’ nodes are all wallets which only download the block headers and save users’ hard drive space.
Want to learn more about Blockchain Nodes and How to setup it?
Tune into our webinar in collaboration with XinFin on “Learn how to set up your Blockchain node” by the Founder of Team Zubi.
Join us on Saturday, 20 June at 7 pm IST.
Register at http://events.zubi.io
Originally published at https://blog.zubi.io on June 18, 2020.
