paint-brush
The Quickest and Most Secure Way to Run Your Blockchain Nodeby@contentsavvy
2,714 reads
2,714 reads

The Quickest and Most Secure Way to Run Your Blockchain Node

by Emmanuel O.May 9th, 2022
Read on Terminal Reader
Read this story w/o Javascript
tldt arrow

Too Long; Didn't Read

A blockchain node serves a vital role in the seamless operation of any blockchain network. It is a network of computer software responsible for the correctness and trustworthiness of data stored on a decentralized ledger. There are thousands of nodes in a single blockchain and each has a copy of the data stored there. This way, they can validate new transactions by matching them with existing records. The more the number of nodes existing in a network, the more secure that network is. This translates to a more *decentralized system, reduced transaction time, and fees*.

Companies Mentioned

Mention Thumbnail
Mention Thumbnail

Coins Mentioned

Mention Thumbnail
Mention Thumbnail
featured image - The Quickest and Most Secure Way to Run Your Blockchain Node
Emmanuel O. HackerNoon profile picture


The blockchain industry is no doubt one of the fastest-growing tech industries and this can be attributed to the unending benefits users derive from using it. Blockchain technology is revolutionizing various sectors by creating a more trustworthy system and distributing its operations across multiple users worldwide. Hence it is decentralized, transparent,  immutable, and resistant to a single point of failure.

Contrary to the traditional system, transactions are verified and recorded on blockchains via computer networks called nodes & miners. These entities make it practically impossible to successfully initiate fake transactions. Thanks to this new world of decentralized internet!

But, What Exactly Is A Node In Blockchain?

A blockchain node serves a vital role in the seamless operation of any blockchain network. You could consider it a network of computer software responsible for the correctness and trustworthiness of data stored on a decentralized ledger. However, there are thousands of nodes in a single blockchain and each has a copy of the data stored there. This way, they can validate new transactions by matching them with existing records.

The more the number of nodes existing in a network, the more secure that network is. So if you choose to run a node, you are contributing to the security and improvement of that network since this translates to a more decentralized system, reduced transaction time, and fees. One good news is that you’re rewarded for your contribution!

Apart from serving these functions, developers can create different services from blockchain nodes since they are open-source. In a P2P protocol, nodes can communicate with one another while transmitting info regarding transactions and newly created blocks.

Does Running A Node Come With Any Benefits?

Apart from the monetary rewards, there are other benefits associated with running a blockchain node (as a validator). Listed below are some of these benefits:


  1. Improved Network Security

One of the exciting features of the blockchain network is decentralization. When you run a node, you are making the network more decentralized and this translates to improved security.

Moreover, you obtain genuine and complete privacy since you need to create a wallet directly on your chosen blockchain network without relying on any third-party wallet provider.


  1. Governance Of A Network

When you run a node, you can easily participate in the decision-making process of a blockchain network. For example, when there are updates to be made in a network, you can either be in support of or against such updates.


  1. Complete Autonomy

Although blockchain/crypto created a trustless system, using a third-party website to track your crypto transactions implies you trust that website. Should the operation of such a third party be jeopardized, you are putting yourself at risk.

However, running a node of your own implies that you can verify the authenticity of your transactions on that blockchain. Why won’t you trust yourself?


  1. Not Expensive

This is not a benefit per se! The requirements to reap the aforementioned benefits can be easily afforded by virtually everyone. If you want to run a full node, a 350 GB, 2GB RAM computer and an unmetered internet connection are just enough. However, the fact that you need to download the entire blockchain of about 4TB could negate this.

Challenges With Deploying A Node Yourself

Challenges or problems you might encounter when deploying a node by yourself include…


  1. Limited Bandwith

Limitation in transmission speed, otherwise known as bandwidth, usually occurs when there is a network overload. When this happens, you are likely going to experience a low transfer of data which is not healthy for running a node — it will interfere with node-blockchain synchronization and you might need to restart. Moreover, extra charges will be imposed on some data plans for using excess bandwidth.


  1. Malicious Software

Malware or computer viruses can be placed on the blockchain network you run your node (this has been witnessed in the bitcoin blockchain network). Although your computer is likely not going to be infected, such viruses might be moved to “quarantine” by your antivirus which could interfere with how the blockchain operates.


  1. Site Deployment

Deploying changes to the website on which your business network could be a recipe for slowing down normal network traffic. This will affect your node operation badly.


  1. Subject To Attacks

Hackers could detect a new node that has been deployed on a blockchain network and make attempts to take over it. Obviously, the security and maintenance of your blockchain node solely depend on you; however, it could be daunting!


  1. It Takes Time

To deploy a full node, you bear the responsibility to purchase the right types of equipment, have an uninterrupted internet connection, and you must be technically inclined to use the associated command line correctly. Putting all these together is time-consuming.

Using The Quickest Approach — QuickNode

You should be aware that running your own node requires a certain level of expertiseand if you lack the *technical know-how,*it could be pretty difficult for you to get anything done.

However, using a blockchain service provider like QuickNode might be an easy way to get past the daunting processes and focus on other things that matter to you or your company. It is a web 3 developer platform that makes it simple to power your blockchain applications and scale up as you grow. From elastic APIs & dedicated nodes to powerful tools & analytics, all at your command through a simple control panel.

QuickNode makes all these a reality for you by deploying the core resources and using the necessary technologies and infrastructure to set up and maintain the nodes connected to the blockchain.

The platform currently supports 12 chains including BSC; Ethereum; Arbitrum; Bitcoin; Optimism; Fantom; Terra; Solana; Algorand; Gnosis; Polygon; Celo

But why QuickNode? Features & Benefits

Below are some of the interesting features and benefits of QuickNode;


  1. High Speed

QuickNode takes full responsibility to keep your blockchain node running at the fastest possible speed. Moreover, they make it easier for you to build reliable and faster apps with top-notch user experience.


  1. Multi-chain Support

As said earlier, QuickNode currently supports 12 chains that include BSC; Ethereum; Arbitrum; Bitcoin; Optimism; Fantom; Terra; Solana; Algorand; Gnosis; Polygon; Celo and they are still working on more. Of course, this is quite beneficial if you intend to build on multiple chains.


  1. Testnet Support

QuickNode offers developers a wide variety of options to test their applications on any testnets of their choice since virtually all major Ethereum testnets are supported on the platform.


  1. Archive Nodes

If your business is a beneficiary of blockchain analysis and research, archive nodes are considered an essential part of it since they hold an exact copy of the ledger since the genesis block.  Fortunately, QuickNode provides you with this.


  1. WebHooks

This feature makes it possible for you (as a developer) to convey event listeners from web3 to web2. QuickNode makes this possible by managing the discovery & notification of smart-contract events in real-time. Hence, you do not need to worry about anything as the platform takes full responsibility.

QuickNode Use Cases

QuickNode in;

  1. Analytics
  2. DApp
  3. NFTs
  4. Exchanges

Want To Get Started With QuickNode?

Getting started with QuickNode requires you to first register on the platform, then you can proceed with the service you need. Follow the steps below…


  1. Log on to QuickNode's official website, sign up for free and verify your email.
  2. Select the plan that best suits your business; you may select “launch” for a 7-day trial).
  3. Now, select the blockchain of your choice, network & add-ons.
  4. Bravo, you are live!

Conclusion

Whether you are an expert programmer or a beginner who wants to deploy a blockchain node for some reason, adopting the service of BaaS providers could be a good option for you; it saves you time and reduces costs compared to deploying your node from scratch.

Of course, QuickNode might not be the best out there, but they offer quite impressive services as we’ve learned earlier. It makes everything easy!