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  1. Home
  2. Akademie
  3. 1.12 Understanding Bitcoin nodes
  • 1.01 This is why you can no longer ignore cryptocurrencies
  • 1.02 What are cryptocurrencies?
  • 1.03 Cryptocurrencies vs fiat money: similarities and differences
  • 1.04 Cryptocurrency coins vs tokens: what is the difference?
  • 1.05 Storing crypto: where and how?
  • 1.06 Understanding crypto wallet terms
  • 1.07 Best practices to keep your crypto safe
  • 1.08 What is Bitcoin?
  • 1.09 How Bitcoin price is defined
  • 1.10 Sending and receiving Bitcoin
  • 1.11 What is Bitcoin halving?
  • 1.12 Understanding Bitcoin nodes
  • 1.13 Can Bitcoin network be hacked?
  • 1.14 The fundamentals of altcoins
  • 1.15 The basics of blockchain technology
  • 1.16 Blockchain use cases
  • 1.17 What is mining in blockchain?
  • 1.18 How do mining pools work?
  • 1.19 Bitcoin mining difficulty & pre-mined coins
  • 1.20 What is Ethereum and how does it work?
Vorherige Lektion

1.12 Understanding Bitcoin nodes

This lesson explains what a Bitcoin node is and the different types of nodes.

article
Zonda Team
13 Januar 2022
10 März 2022



Unlike banks and other financial institutions, no central organizations control the Bitcoin network. It is a decentralized, peer-to-peer network, and all the transactions are distributed in a public ledger. 

So, the first question is that when you transact a Bitcoin, how does it get processed or transferred. What if the transactions are invalid and like cheques, what if they get bounced? The answer to all your questions is Bitcoin nodes. They verify, broadcast, and secure the transactions. 

This lesson explains what a Bitcoin node is and the different types of nodes. 

Contents

  • What is a Bitcoin node?
  • How are miners different from nodes?
  • Types of Bitcoin nodes
  • Why run a Bitcoin node?

What is a Bitcoin node?

A node is a storage device like a computer or a laptop with an internet connection. The device must have the capacity to store and run the Bitcoin blockchain. Bitcoin nodes work together with miners to maintain the system. 

Nodes are connected with each other. They send and receive transactions with other nodes to verify the validity of transactions. Nodes broadcast the transactions in the network, and miners verify them by solving mathematical problems. The more nodes connected to the network, the more robust and powerful the network becomes.

Every node scans new transactions added to the system and ensures that they do not contradict the transaction history. They convey these transactions to other nodes to ensure that all participants maintain identical blockchains or ledgers. 

Nodes play a key role in the Bitcoin network. Think of them as the guardians because they constantly monitor the network to separate valid transactions from invalid transactions. 

By connecting your computer to the blockchain network, you can play your part in protecting the Bitcoin blockchain from frauds and hacks. The nodal approach allows the Bitcoin network to be decentralized and eliminates the need for a single, central authority. 

How are miners different from nodes?

It is important to note that nodes don’t necessarily have to be miners. All miners are nodes, but all nodes are not miners. Let us understand the difference, 

A node validates the transactions. While, in addition to validating the transactions, miners have to set up extra hardware equipment and solve complex mathematical problems. 

Miners continue to form the blockchain ledger by adding transactions into blocks and linking them to the previous block. 

On the other hand, nodes are needed to confirm the validity or legitimacy of the new blocks and transactions. They are still vital to the blockchain system as they contribute to the decentralization of the network. 

Types of Bitcoin nodes

There are different types of nodes. However, they are broadly classified into two main categories. They are full nodes and lightweight nodes. 

Full node

The function of a full node is to verify the complete Bitcoin blockchain independently. A full node downloads every block and transaction and validates them against the rules of the network. 

Full nodes download the complete Bitcoin ledger and update the network as new transactions are added. If any block or transaction violates the rules of the network, a full node will reject it. 

Lightweight node

Lightweight nodes, also known as SPV (Simplified Payment Verification) clients, do not download the complete blockchain. They are completely dependent on full nodes to further validate information since they only store the block headers. 

So, why would anyone run a lightweight node? Because the lightweight nodes require less storage space as compared to full nodes. As they do not process large amounts of data, the storage and processing requirements are lesser compared to full nodes. 

Why run a Bitcoin node?

Miners need constant access to Bitcoin nodes to pick up transactions and access data like the preceding block’s hash. Miners are dependent upon full nodes and in addition to mining, they can also set up their own nodes. While running a node does not have any tangible benefits, it serves the Bitcoin network in the following ways:

  • Allows users to verify the state of the Bitcoin network. 
  • Enables users to verify the supply of Bitcoin. 
  • Prevents double-spending. 
  • Monitors the health and security of the Bitcoin blockchain.
  • Facilitates miners to acquire the necessary information needed to validate transactions and form the blockchain.

The Bitcoin network becomes resistant to attacks and frauds as long as nodes exist to keep the transactions in check. Bitcoin nodes are like the central nervous system to the network. 

They act as gateways (for new blocks and transactions) and highways (to convey the transaction information to all participants) and make the system secure and decentralized.

DE

This material does not constitute investment advice, nor is it an offer or solicitation to purchase any cryptocurrency assets.

This material is for general informational and educational purposes only and, to that extent, makes no warranty as to, nor should it be construed as such, regarding the reliability, accuracy, completeness or correctness of the materials or opinions contained herein.

Certain statements in this educational material may relate to future expectations that are based on our current views and assumptions and involve uncertainties that could cause actual results, performance or events to differ from those statements.

BB Trade Estonia OU and its representatives and those working directly or indirectly with BB Trade Estonia OU do not accept any liability arising from this article.

Please note that investing in cryptocurrency assets carries risks in addition to the opportunities described above.

Nächster Lektion

1.13 Can Bitcoin network be hacked?

1.13 Can Bitcoin network be hacked?
Vorherige Lektion
16 / 1 / 22
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This lesson explains why cryptocurrencies might be a good asset to include in your investment portfolio.

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2.12 How to earn cryptocurrencies without trading?

This lesson covers six ways in which you can earn passive income and the risks involved.

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1.08 What is Bitcoin?

In this lesson, we dig deep into the roots of the crypto and blockchain tree - Bitcoin.

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1.08 What is Bitcoin?
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1.09 How Bitcoin price is defined

This lesson helps you understand what determines the price of Bitcoin.

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1.09 How Bitcoin price is defined
14 / 1 / 22
Bitcoin
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1.10 Sending and receiving Bitcoin

In this lesson, we explain how to send and receive Bitcoins.

Weiterlesen
1.10 Sending and receiving Bitcoin
13 / 1 / 22
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Blockchain

1.11 What is Bitcoin halving?

This lesson takes you through the concept of Bitcoin halving.

Weiterlesen
1.11 What is Bitcoin halving?
13 / 1 / 22
Bitcoin
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Blockchain

1.13 Can Bitcoin network be hacked?

In this lesson, we discuss why it is nearly impossible to hack the Bitcoin blockchain.

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1.13 Can Bitcoin network be hacked?
13 / 1 / 22
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1.19 Bitcoin mining difficulty & pre-mined coins

This lesson covers two concepts - Bitcoin mining difficulty and pre-mined coins.

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1.19 Bitcoin mining difficulty & pre-mined coins
13 / 1 / 22
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Blockchain

1.18 How do mining pools work?

This lesson explains the function of mining pools in detail.

Weiterlesen
1.18 How do mining pools work?
13 / 1 / 22
Bitcoin
Blockchain

1.17 What is mining in blockchain?

This lesson will explain the basics of the cryptocurrency mining process.

Weiterlesen
1.17 What is mining in blockchain?
13 / 1 / 22
Bitcoin
Altcoin
Essentials

1.04 Cryptocurrency coins vs tokens: what is the difference?

This lesson explains the differences between crypto coins and tokens. 

Weiterlesen
1.04 Cryptocurrency coins vs tokens: what is the difference?
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NFT

1.16 Blockchain use cases

This lesson discusses prominent use cases of blockchain technology.

Weiterlesen
1.16 Blockchain use cases
13 / 1 / 22
Bitcoin
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Essentials

1.03 Cryptocurrencies vs fiat money: similarities and differences

In this lesson, you will understand both the similarities and the differences between cryptocurrencies and fiat ...

Weiterlesen
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13 / 1 / 22
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Blockchain

1.15 The basics of blockchain technology

This lesson explains what blockchain is and why it is the frontier to the next revolution.

Weiterlesen
1.15 The basics of blockchain technology
13 / 1 / 22
Bitcoin
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Essentials

1.02 What are cryptocurrencies?

In this lesson, you will learn about the basics of cryptocurrencies. 

Weiterlesen
1.02 What are cryptocurrencies?
12 / 1 / 22
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Altcoin
Essentials

1.01 This is why you can no longer ignore cryptocurrencies

Here are a few reasons for you to start with the Zonda Academy and take your crypto knowledge to the next level.

Weiterlesen
1.01 This is why you can no longer ignore cryptocurrencies

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