Blockchain network

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Revision as of 20:09, 31 May 2021 by Hdridder (talk | contribs)
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A peer to peer network that consists of a bunch of computers working on a blockchain.

A network can be public (anyone can participate like in the Ethereum blockchain), private (permissioned) or hybrid.

Types of nodes:

  • Miner; Create new blocks by collecting transactions posted on the blockchain network, checking them, construct a new block and post that on the network. In many blockchains miner receive a reward for being the first one to construct a new block.
  • Full node; Checking block validity using all transactions and blocks.
  • Lightweight node; Checking chain integrity using only the block headers.

In a private network you don't need mining, you can just appoint one or more nodes that can create new blocks.