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You're reading from  Mastering Blockchain - Fourth Edition

Product typeBook
Published inMar 2023
PublisherPackt
ISBN-139781803241067
Edition4th Edition
Concepts
Blockchain
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Author (1)
Imran Bashir
Imran Bashir
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Imran Bashir

Imran Bashir has an M.Sc. in Information Security from Royal Holloway, University of London, and has a background in software development, solution architecture, infrastructure management, and IT service management. He is also a member of the Institute of Electrical and Electronics Engineers (IEEE) and the British Computer Society (BCS). Imran has extensive experience in both the public and financial sectors, having worked on large-scale IT projects in the public sector before moving to the financial services industry. Since then, he has worked in various technical roles for different financial companies in Europe's financial capital, London.
Read more about Imran Bashir

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Nodes and miners

The Ethereum network contains different nodes. Some nodes act only as wallets, some are light clients, and a few are full clients running the full blockchain. One of the most important types of nodes are mining nodes. We will see what constitutes mining in this section.

Mining is the process by which new blocks are selected via a consensus mechanism and added to the blockchain.

As a result of the mining operation, currency (ether) is awarded to the nodes that perform mining operations. These mining nodes are known as miners. Miners are paid in ether as an incentive for them to validate and verify blocks made up of transactions. The mining process helps secure the network by verifying computations.

At a theoretical level, a miner node performs the following functions:

  • It listens for the transactions broadcasted on the Ethereum network and determines the transactions to be processed.
  • It determines stale ommer blocks and includes them in the blockchain.
  • It updates the...
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Mastering Blockchain - Fourth Edition
Published in: Mar 2023Publisher: PacktISBN-13: 9781803241067
© 2023 Packt Publishing Limited All Rights Reserved

Author (1)

author image
Imran Bashir

Imran Bashir has an M.Sc. in Information Security from Royal Holloway, University of London, and has a background in software development, solution architecture, infrastructure management, and IT service management. He is also a member of the Institute of Electrical and Electronics Engineers (IEEE) and the British Computer Society (BCS). Imran has extensive experience in both the public and financial sectors, having worked on large-scale IT projects in the public sector before moving to the financial services industry. Since then, he has worked in various technical roles for different financial companies in Europe's financial capital, London.
Read more about Imran Bashir

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