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What is Node?
A node is a name given to a device on a blockchain network, these devices act as the foundations and buildings blocks of the network, granting it functionality. Nodes can be spread out widely across the network and carry out a wide variety of tasks.
The role of the node is to play a support role within the blockchain. This is carried out by the node keeping a copy of the entire blockchain and in some cases, processing transactions. Node structure is generally arranged in a tree format, which is given the name ‘a binary tree’. Every cryptocurrency has its own nodes, which will act to help maintain transaction records relating to those particular tokens on the network.
Nodes are individual parts of the entire blockchain network and as node owners are assisting, by dedicating their computing resources to copy and verify transactions, they are rewarded for their efforts. The reward takes the form of cryptocurrency, and the process of earning these rewards is referred to as mining.
Processing these transactions on the blockchain network requires a lot of processing power and generally, average computers do not have the sufficient capabilities to carry out these procedures. ‘Miners’ will invest in very powerful PCs to carry out this function so that they can maximize their rewards.