Crypto 101: Cracking the Node Mystery in Cryptocurrency

4 mins read

Crypto 101: Cracking the Node Mystery in Cryptocurrency

What is a Blockchain Node?

TL;DR

  • Nodes are integral to decentralization and transaction verification on the blockchain
  • Nodes help to store and keep a record of all transactions that have ever taken place on a chain
  • Running a node involves installing and activating the node setup of the underlying blockchain

 

Nodes are computer devices that help to keep track of blockchain transactions and records. Typically, nodes work as a network of interconnected computers that ensure the appropriateness of transactions on a blockchain. 

Nodes are like accounting bookkeepers that document every transaction that occurs - be that debit or credit. The distinctive feature of nodes lies in their decentralization. Unlike banks and other financial institutions that operate as centralized entities, nodes are several interconnected computers running the virtual machine of a blockchain network, monitoring every activity that takes place on the blockchain.

Nodes ensure that a blockchain is not easily manipulated by any individual as they store records of transactions, passing the sequence to every single node on the network to check authenticity or otherwise in the transaction issued. This network of interconnected computers ensures that a blockchain stays decentralized to achieve the central idea behind cryptocurrency.

How to Run a Blockchain Node

Running a crypto node is not as technical as it sounds. In fact, its requirements can be met with a regular computer capability as they require basic RAM functions (for most) and sizable storage space.

To run a crypto node, you will need to download and install the node software of the underlying blockchain. Upon installation, you might be required to complete some other basic processes to successfully complete the setup.

For instance, the POP Network already has a detailed guide for users who are interested in running a node. If you would like to run a POP Network node, you can install the right application from this link. To find more information on how you can complete the setup, you can use this link.

Passive Income through Nodes

Running a node is a great way to diversify your income. The good thing is that running a node does not require a lot to set up. Most times, your Personal Computer is good enough to get you started.

You can start making passive income by running a node and getting paid for your service (usually in the native token). On POP Network, the only thing you need to do upon installation is to stake a minimum of 50,000 POP tokens. Once done, you are all set to be a masternode on the network.

The interesting thing about running a POP network node is that the value of the native token is bound to increase over the next few years. Getting in early helps you amass massive rewards that grow in value over time (just look at where bitcoin miners are today).

Conclusion

Nodes are key to the decentralization process on the blockchain. The ease with which regular personal computers could be adapted to running blockchain nodes has further made them integral to blockchain technology. Running the POP Network Masternode is definitely a unique opportunity for you to get started in your blockchain journey and start earning PASSIVE INCOME!

 

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