Blockchain Node

Published On - April 13, 2024

what is a blockchain node to answer this question let's first consider the rise of shared marketplaces like uber Airbnb and door Dash. how is it that the largest Transportation Company on the planet owns no vehicles the largest hotel owns no properties and the largest dining service owns no restaurants .

these companies all figured out a way to use other people's property and rewards them for participating in this new sharing economy blockchain. Works in a very similar way except instead of sharing a car or a beach house you share your computer why hold that thought for a moment while I ask you another question do you know how the internet works take your favorite online store for example how does the website actually work.

how is the payment processed the Fulfillment tracking shipping how does it all work this is this is an oversimplification but the company you're buying from likely has thousands upon thousands of computers all housed in a central server Farm each computer is kept busy running calculations crunching numbers that make your purchase possible from the second you click your mouse to the moment it's dropped on your doorstep these computers are constantly running behind the scenes to make it all possible most tech companies pay millions sometimes billions of dollars for this kind of an operation in contrast blockchain is more like uber and Airbnb instead of coming up with the millions of dollars to buy all the computers to run all these calculations.

blockchains operate by sharing other people's computers thousands tens of thousands even millions of computers all chained together to fulfill whatever the mission is of that specific blockchain Community many people think blockchain is a technology for crypto cryptocurrency but that's like saying the internet is a technology for email just like a big tech company can be created for any reason a blockchain can be created to solve virtually any problem you can imagine but why would someone want to join a blockchain and share a fraction of their computer's power for the same reason Uber drivers and real estate owners contribute the use of their property

Rewards unlike Uber Airbnb or door Dash where ownership and profits are controlled by the few at the top decentralized blockchain projects are quite literally shared by all community members who connect their computer to a blockchain it all starts by purchasing a node a software license that once installed on your computer adds that computer to the blockchain your computer joins the army of other computers on the same blockchain it is put to work crunching the numbers and performing calculations to assist in the work of the blockchain in return community members who operate their node earn digital rewards for doing so in many cases these digital rewards can be exchanged for cryptocurrency giving memb real incentive to continue running their node. each and every day and now you know what a blockchain node is but there's so much more to discover to learn more about how you can participate in a blockchain community.

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