What is Node and or Masternodes???

[QueenRoyale]

 Can someone explain me what is nodes and or masternodes? Ive been hearing that alot lately but I dont know hat that means.

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[achow101]

Nodes are machines that are part of a network. In the case of Bitcoin, it means machines that are part of Bitcoin's peer to peer network. They receive and send blocks and transactions.

Nodes can be broken down into several types: full, pruned, and SPV. A full node is one which receives all transactions and blocks, fully verifies each one, and relays them. It also stores the full blockchain. Full nodes can serve the entire blockchain to anyone who wants it.

Pruned nodes are like full nodes except they don't store the full blockchain. They still verify and receive all blocks and transactions and relays them.

SPV nodes are nodes which only receive blocks and transactions, and not necessarily all of them. They typically only receive ones which pertain to their wallet. SPV nodes are incapable of fully validating all blocks and transactions and do not relay blocks or transactions unless it originated from that node.

Masternodes are a certain type of node for altcoins that have special abilities. Bitcoin does not have masternodes.

[z28barnes]

I'm also curious about nodes and how to run one. This looks to me like a source of income if done right? Anyone interested in walking me through how to set one up for bitcoin and what I need to do step by step? In the meantime I'll be doing some research 

[Xynerise]

I'm also curious about nodes and how to run one. This looks to me like a source of income if done right? Anyone interested in walking me through how to set one up for bitcoin and what I need to do step by step? In the meantime I'll be doing some research 

There is no (financial) incentive to run a bitcoin node -- not directly anyway.
So you won't get paid for it, but nodes are important to the security and decentralisation of the network so you'll be "protecting" your bitcoin investment by running a node .
If you wish to run a bitcoin node, go to bitcoin.org, then download the software for your OS and Architecture, install it and let it run to sync the blockchain.
This will take a few days or hours depending on your CPU power and will also take ~150GB of space without pruning.

[Jet Cash]

Isn't a node that stores the full blockchain an "archive node", a pruned node only stores part of the blockchain, but is still a full node.

[Xynerise]

Isn't a node that stores the full blockchain an "archive node", a pruned node only stores part of the blockchain, but is still a full node.

I believe the distinction is between full nodes and SPV Nodes.
Archival and Pruned nodes are subsets of full nodes.

[Xynerise]

I have the same question about these node and master nodes. I am searching for answer regarding with the technicalities of bitcoin. Fortunately it leads me to this thread which very useful when it comes to bitcoin technicalities. And in regards with the comments of the members here I have read that these are the block chains    of bitcoin/alt coin of that computer with IP dedicated address.

As you can read above, nodes are computers in a network -- in this case, the bitcoin network.
They form the basis of the blockchain.
All the bitcoins that exist exist as outputs on the computers that run the bitcoin core software, and all the transactions that have ever take place since the Genesis block in 2009 are stored.
Nodes perform an array of functions like validating and relaying blocks, etc.

Well is this block chains of bitcoin/alt coin applicable to android phones? I hope I could get some answers here. I am Newbie.

You can see that nodes require a lot of storage (more than 150GB for bitcoin), and lots of processing power to validate blocks, and they must be online constantly.
These requirements are too much for a mobile device to handle so it is not possible to run a node on a mobile device.