The Future Functions of Nodes on the Eon Blockchain

sirgiddy (36)in #bitcoin • 7 years ago (edited)

The nodes’ goal is to validate incoming transactions and the formation of blocks in accordance with the rules. Why then do we need to own a node on this new and secured blockchain, knowing fully well that to get a reward as a node we must own 25000 eon coins. This is how a node works:

A network node can be set up on any device with a special software. It performs sending of transactions, blocks and auxiliary information in accordance with the established rules. The specified rules for data transmission among the nodes are regulated by the protocol. In the case where an individual network node stops working within the accepted protocol (e.g. because of the modification or absence of critical updates) after some time, it is "isolated" from the network, and stops participating in the creation of new blocks. If several nodes stop working within the protocol, they are isolated and make up a subnet. Separately, the process of interaction between the node and the "outside world" can be expressed in the following operations : receiving, checking and saving new transactions received from the The term "active nodes" is used since each particular peer works with a limited list of active connections which is randomly generated based on a pool of known addresses. In theory, each particular node may not have information about the structure of the entire network. In the current version, the protocol provides synchronization of data that can be conditionally divided into 3 streams:

Synchronization of "unconfirmed"3 transactions, in which the local pool of transactions is expanded with new ones obtained by polling a randomly chosen peer (similar to the "theory" of handshakes);
Blockchain synchronization based on the complexity criterion;
Collecting information about the structure of the network and exchanging meta-information.

Generation of new blocks in the system is done by special "delegate"4 accounts. Each delegate must confirm the obligation to issue blocks by depositing part of his funds by issuing the relevant transaction. The funds deposited by the delegate are frozen on his account until the release of the reverse transaction. The minimum level of deposited funds for participation in the process of creating blocks should be at least 25.000 coins. New blocks in the network are created at fixed time intervals of 3 minutes. Each delegate can propose its own version of the block for validation by the network.