Full Node in cryptocurrencies and blockchain refers to a specific type of node that actively participates in the validation and maintenance of the decentralized network. It is called "full" because it has a complete and up-to-date copy of the transaction history of the entire blockchain.
Here are some main features and functions of a Full Node:
1. Full Blockchain Storage: Full Node keeps a copy of all transactions ever performed on the blockchain since its genesis block. This copy is constantly updated as new blocks are added to the chain.
2. Transaction Validation: A Full Node verifies the authenticity and validity of transactions within blocks. It enforces cryptocurrency protocol rules to ensure that transactions are correct and that there are no double-spending attempts or other malicious activities.
3. Dissemination of information: Full Node helps propagate new blocks and transactions across the network. It shares information with other nodes, contributing to the decentralization and security of the network.
4. Blockchain Consistency: Full Node works to ensure that all network participants have the same valid copy of the blockchain, following cryptocurrency consensus rules. This is essential to avoid unwanted forks (forks) and maintain network integrity.
5. Privacy: Running a Full Node allows users to validate their transactions without relying on third parties. This increases user privacy and security as it is not necessary to share personal or financial information with other entities.
Full Nodes are critical to the health and security of the blockchain network, as they help ensure the immutability of transaction history and contribute to resilience against malicious attacks. However, running a Full Node requires significant computational resources and considerable storage space, making it best suited for users and organizations looking for greater control over their transactions and greater involvement in the network.