📝 Definition:
Nodes are individual computers or devices that take part in a blockchain network.
They store, verify, and share the complete history of transactions on the blockchain, making the network decentralized and secure.
🔑 Key Features:
- Decentralization: Nodes help keep the blockchain decentralized by distributing the data across many devices.
- Verification: Each node verifies transactions to ensure they are legitimate.
- Security: Nodes contribute to the security of the network by making it harder for any single entity to control or manipulate the blockchain.
- Communication: Nodes communicate with each other to share data and updates across the network.
⚙️ How It Works:
- Store Data: Nodes store a copy of the entire blockchain, which includes all transactions ever made.
- Validate Transactions: When a new transaction is made, nodes check its validity according to the blockchain rules.
- Broadcast Transactions: The nodes share the valited transactions with other nodes to update their copies of the blockchain.
- Consensus Mechanisms: Nodes work together to reach an agreement (consensus) on the current version of the blockchain.
💡 Applications:
- Maintaining the Network: Nodes keep the blockchain running without issues by always updating and verifying transactions.
- Decentralized Applications (dApps): Nodes support the infrastructure needed for decentralized applications.
- Security and Transparency: The distributed nature of nodes ensures the blockchain is secure and transparent.
🔍 Example:
Imagine a group of friends keeping a shared diary.
Each friend has a copy of the diary and updates it whenever something new happens.
They all check and agree on each new text before adding it to their copies.
In the crypto world, nodes do the same thing, keeping the blockchain accurate and secure.