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What is a node?
  • a)
    A type of cryptocurrency
  • b)
    A Blockchain
  • c)
    A computer on a Blockchain network
  • d)
    An exchange
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
What is a node?a)A type of cryptocurrencyb)A Blockchainc)A computer on...
A node can be any active electronic device, including a computer, phone or even a printer, as long as it is connected to the internet and as such has an IP address. The role of a node is to support the network by maintaining a copy of a blockchain and, in some cases, to process transactions.
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What is a node?a)A type of cryptocurrencyb)A Blockchainc)A computer on...
Node in Blockchain

A node in Blockchain refers to a computer or device connected to a Blockchain network. It plays a vital role in the distributed ledger technology by validating transactions and maintaining the integrity of the network.

Functions of a node

1. Validation: Nodes are responsible for validating transactions and checking if they meet the consensus rules of the network. They check the authenticity of each transaction and ensure that they are not double-spent or tampered with.

2. Network Maintenance: Nodes are responsible for maintaining the network by sharing information with other nodes. They broadcast new transactions and blocks to other nodes in the network, ensuring that all nodes are up-to-date.

3. Mining: Some nodes are also responsible for mining new blocks and adding them to the Blockchain. These nodes compete to solve complex mathematical puzzles, and the first node to solve the puzzle gets to add the new block to the chain.

Types of nodes

1. Full Node: A full node stores a complete copy of the Blockchain and validates all transactions and blocks. It is the backbone of the network and ensures the integrity of the Blockchain.

2. Light Node: A light node does not store a complete copy of the Blockchain but relies on other full nodes to validate transactions. It is faster and requires less storage space but is less secure than a full node.

3. Super Node: A super node is a high-performance node that provides additional services to the network, such as faster transaction processing or enhanced security features.

Conclusion

In summary, a node is a computer or device connected to a Blockchain network that validates transactions, maintains the integrity of the network, and ensures the proper functioning of the Blockchain. It plays a vital role in the distributed ledger technology and is essential for the functioning of the Blockchain.
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What is a node?a)A type of cryptocurrencyb)A Blockchainc)A computer on a Blockchain networkd)An exchangeCorrect answer is option 'C'. Can you explain this answer?
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