In this article, we will dive into the topic of nodes and break down what blockchain needs them for.
➡️ Blockchain nodes are the members of a decentralized network that build its internal infrastructure.
In simpler terms, a node is a device (PC, laptop, server) on which the software of a particular blockchain runs.
➡️ The main functions of a node are:
• Store and distribute transaction information between nodes.
• Control the execution of network rules.
• Maintain distributed registries that store transaction information.
➡️ What it takes to set up a node:
• Find a project with an upcoming paid testnet. Preferably, this should be accompanied by good fundraising;
• A server with uninterrupted internet and electricity;
• Have a minimum knowledge of how to install a node, update it and test it. Most often, nodes for a particular project is installed by a special guide (either from the project, or from other people who have made a more convenient guide for everyone).
‼️ It is important to understand that maintaining a node is quite a long process. At times, testing takes more than 12 months. That's why we use third-party servers for our work.
💵 Case studies of past nodes:
• Solana, Avax, Near, Mina - each project gave away over $100k to early adopters.
• Moonbeam, Juno, Osmo - gave away over $40k.
All award figures are per account. For example, if you held 5 nodes from pro Moonbeam, you could get over $200K.
However, it's not all so rosy. Many projects bring in pennies, and some don't even make it to the mainnet. That's why a careful DYOR is always important.
Do you have experience with nodes?
👍 - Yes
👎 - No
