Educational Post:
What is a Node?
In telecommunications and software engineering, a "node" refers to a more extensive interconnected network component. In crypto, however, a node is one of the components that run a blockchain's algorithm to verify and authenticate each transaction.Every blockchain is made of nodes. Nodes are generally computer systems that contain a copy of a blockchain's primary protocol and its entire transaction history. Due to decentralization, any individual can run a node anywhere in the world as long as they’re connected to the decentralized blockchain network and have the required resources.What are nodes used for?Nodes can create, send, and receive blockchain data. Their primary purpose is to validate, record, and broadcast each transaction on the network. They ensure that the blockchain is functioning properly and has the ability to reject transactions if they’re malicious. They’re also responsible for executing each blockchain’s consensus mechanism, which is a process that blockchains follow to confirm and validate transactions. The two most common consensus mechanisms are proof-of-work (PoW) and proof-of-stake (PoS).
