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Author Topic: What really is a bitcoin Node?  (Read 82 times)
casey15 (OP)
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Today at 04:20:43 AM
Merited by Charles-Tim (1)
 #1


Hello bitcoin talkers
You've probably have been seeing alot of threads or have heard about  Bitcoin node before, and it may seem like a very technical concept .But understanding what a node is will help you understand how  Bitcoin works and what makes it very secure and decentralised

In simple terms, a node is a computer that is running the bitcoin software. It's connected to other computers all over the world and together they form the global Bitcoin network. Each individual computer is a bitcoin node
The  job of these nodes is to enforce and verify   the rules of Bitcoin. They literally help to keep the network transparent. Bitcoin  nodes are the reason you can trust Bitcoin without having to bother about central authority. Every time you use a mobile wallet you are indirectly relying on the network of nodes to confirm that your Bitcoin is real and that your transaction is valid.
A full node  Stores a copy of the entire bitcoin Blockchain. It also verify new transactions that is sent on the network, it checks if the sender is trying to send more bitcoin than he has on his wallet e.t.c.. when a transaction does not comply with the bitcoin rules, the node rejects it.
 As a network, nodes share transactions and block with each other .

    As an individual it is possible to run your own node...
It isn't necessary but it comes with some benefits
For example, you won't have to depend on exchanges or wallet to be able to verify transactions, you will be able to do that yourself as long as you have a copy of the block chain..
Every node you run helps to strengthen the network and make is more decentralised.. when your wallet is connected too your own node, your transactions and address information are not sent to a third party..

  Running a node is not as power consuming as running a miner so don't get scare .
  I hope I have been able to make this simple for all newbies to understand .. if there are any other important information about bitcoin node, feel free to dropo them in this thread ..

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Today at 07:55:46 AM
 #2

In simple terms, a node is a computer that is running the bitcoin software.

Each individual computer is a bitcoin node
Your topic is too inaccurate and let's consider reason of making this thread while you don't understand about it but want to teach.

Not all 100% Bitcoin wallet softwares allow Bitcoin users to run a Bitcoin node.
Not each individual computer is a Bitcoin node. You only have a Bitcoin node if you run a Bitcoin wallet software that support a Bitcoin node.

You don't need to teach the others by writing about Bitcoin nodes when you don't understand it well.
Use this.
https://learnmeabitcoin.com/technical/networking/node/

Newbies Stop Teaching When You Need To Learn.

R


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Today at 08:25:18 AM
 #3

A full node  Stores a copy of the entire bitcoin Blockchain.
Prune nodes are also full nodes but they do not store the complete blockchain. You do not need to download the whole blockchain before you run a prime node. Although, it has some disadvantages to full node.

For example, you won't have to depend on exchanges or wallet to be able to verify transactions, you will be able to do that yourself as long as you have a copy of the block chain.
Who told you the exchanges are having full nodes. Exchanges wallet can be SPV if they choose it to be like that. Also, you can not run a full node on any exchange, unlike full clients wallet like Bitcoin Core.

In simple terms, a node is a computer that is running the bitcoin software.

Each individual computer is a bitcoin node
Your topic is too inaccurate and let's consider reason of making this thread while you don't understand about it but want to teach.

Not all 100% Bitcoin wallet softwares allow Bitcoin users to run a Bitcoin node.
Not each individual computer is a Bitcoin node. You only have a Bitcoin node if you run a Bitcoin wallet software that support a Bitcoin node.
He he referring to computers that are running full nodes. He is correct.

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Today at 08:37:16 AM
 #4

I read through his post and it wasn't actually bad. Though few things not accurate like Charles-Tim already pointed out. May be you should do same and not rush into conclusion because he's a newbie rank. Though I prefer newbies not teaching what we already know.

    As an individual it is possible to run your own node...
It isn't necessary but it comes with some benefits
For example, you won't have to depend on exchanges or wallet to be able to verify transactions, you will be able to do that yourself as long as you have a copy of the block chain..

The benefits is that When you run your own node your wallet doesn't have to rely on other server for it to broadcast your transaction to the network. it can connect directly to your own node, which it will broadcast from.

R


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Today at 01:36:31 PM
 #5

Bitcoin is peer-to-peer money, which means you don’t need any middlemen. You can send money directly from one person to another without banks or other institutions.That’s why it’s important to run your own node,because if you don’t control your own node, you can’t fully control your Bitcoin transactions and privacy.If you use someone else’s node to broadcast transactions, you depend on that person and lose control over your Bitcoin transactions and your money.

Another important thing is to verify Bitcoin transactions and make sure the Bitcoin you received is authentic.
For example, with gold, it’s expensive and difficult to check if a gold coin is real or fake.
With Bitcoin, this is easily verified through nodes that confirm the validity of every transaction and coin.Matthew Kratter made a really great video on this topic just two months ago.https://www.youtube.com/watch?v=CNv_xMRjzmE

In the video, he explains how dangerous it is if you do NOT run your own node but use hardware wallets and nodes provided by those companies.




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Today at 03:21:22 PM
 #6

In simple terms, a node is a computer that is running the bitcoin software.
Correction, a node is not  a computer - A node is the software that runs in the computer.

A node downloads and validates blocks and transactions happening in the blockchain starting from its genesis block down to the recent block. For better understanding of what a node is, try running one yourself, if you have enough storage run a complete node or pruned to save storage.



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Today at 04:43:26 PM
 #7

There is much to talk about when it comes to explaining what a bitcoin node is, but i will not go into this in other to help you have a more broader insight on what bitcoin node is, but i have a link to give you, which you can read and continue in learning about what the nodes are and how they work in the bitcoin network and on the blockchain technology.

Quote
Nodes are pillars of the Bitcoin network. These nodes continuously monitor the blockchain and its complete transaction history to prevent access to non-legitimate transactions that attempt to spend their Bitcoin twice fraudulently, also known as the double-spending issue.https://cointelegraph.com/learn/articles/what-is-a-bitcoin-node-a-beginners-guide-on-blockchain-nodes


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Today at 05:41:35 PM
 #8

Running a node is not as power consuming as running a miner so don't get scare .
  I hope I have been able to make this simple for all newbies to understand .. if there are any other important information about bitcoin node, feel free to dropo them in this thread ..
It is also important to note that miners, or mining, are part of the nodes, and these are the nodes that consume power. Based on the information I have seen, it states that in the Bitcoin Whitepaper, the word "node" is a synonym for "miner," but over time the terms have become more distinct. So, we can conclude that there are actually several types of nodes, each with its own function and role, Cmiiw. For reference, perhaps you can also see what I read here for the full explanations : Bitpanda - What is a Bitcoin Node?



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