platNodes caught our attention with the recent record of its rewards.
They are now a means of income generation, and several node operators have made decent amounts off nodes. Read on to learn what nodes are all about.
What is a Blockchain Node?
It processes blockchain data on a network, stores data, and validates user transactions. Nodes are essential in maintaining security in a blockchain. The greater the nodes, the higher the network security. If there are a lot of nodes, it would be much more complicated to hack. There are different types of nodes:
- Full nodes: They store the transaction history of the blockchain network. It stores every blockchain data and history.
- Light Nodes: They store block headers and safeguard the storage space while verifying transactions.
- Mining Nodes: Their function is to confirm transactions and add them to the blockchain. Mining Nodes need a lot of computing power and also offer rewards for mining rewards.
- Validator Node: They are helpful in the PoS mechanism to confirm transactions, create new blocks, and earn rewards.
Now, let’s look into recent earnings from Running nodes of some blockchains:
- Avalanche: A node launched in 2020 earned around $250,000.
- Graph: Earned 33,000 GRT tokens, worth almost $80,000 at their peak.
- Aave: Up to $100,000 earned in two weeks of active work.
- Moonbeam: Received 50 MOVR tokens worth $24,000 at the time.
Here is an example:
Source: X
How Much Does It Cost to Run a Node?
Sometimes, it’s cheap and free depending on the blockchain network, but the main cost is in renting the VPS. Depending on the requirements, the VPS (Virtual Private Server) costs a few monthly dollars.
Getting Started with Nodes
To check out testnet programs running nodes, use Nodes Guru. Here’s what you should do:
- Visit the website.
- Look for the Testnets Aggregator.
- Check the available testnets.
- Click on the available testnet program to see more details.
Source: X
Now, let’s take a look at some very interesting Node projects
Top 5 Nodes Projects for 2024-2025
1) Farcaster
Farcaster is a decentralized social media network built on Ethereum. It offers users the means to empower their audience without intermediaries. Your content does not belong to you on regular social platforms. There is always a specific rule or guideline about what you can post.
Farcaster covers user autonomy, data transfer, and censorship. It is about building the platform on a decentralized blockchain approach. Farcaster is a protocol for building social applications. With Farcaster, you have full ownership of your profiles across networks.
Source: X
2) Elixir
Elixir is a functional concurrent language for building scalable systems that aims to be easy to maintain. This platform is beneficial for applications that may need real-time capabilities. It runs on an Erlang virtual machine (BEAM) and works well with many concurrent connections and nodes. Elixir recovers from faults through the supervision trees.
This platform also focuses on data immutability and metaprogramming through macros. Elixir has Mix for building and testing projects and Hex for package management. Phoenix, one of Elixir’s web frameworks, optimizes efficiency in Web applications. Elixir is perfect for apps with scalability, real-time features, and those that need fault tolerance.
Source: X
3) Babylon
Babylon is a Cosmos project securing Cosmos zones and other PoS chains with the help of Bitcoin. Using the PoW model introduced in Bitcoin strengthens the security of PoS networks. It enables PoS chains to checkpoint their states on Bitcoin.
This process is ‘finality anchoring’, immune to reorganization attempts. It also allows secure cross-chain operations such as asset transfers and information sharing. Babylon enhances staking security cross-chain bridging and offers a foundation for DeFi within PoS networks.
Source: X
4) OG Labs
OG Labs is a modular AI chain that offers data availability as a programmable layer in AI applications within a closed and secure system. OG Labs is creating the first scalable and decentralized DA layer with a general-purpose storage tier, a 0G System. The 0G System allows Web2 and Web3 data storage on-chain. It also allows simple functions such as on-chain AI, cross-chain transfer, deFi, and on-chain gaming.
It attains a high level of scalability since DA is in a scalable storage tier and a quorum-based publishing tier, using Proof of Random Access (PoRA) for mining. Some of the key partners are Polygon and Arbitrum. OG Labs built a scalable and efficient data solution for blockchain use cases.
Source: X
5) Initia
Initia is an L1 on Cosmos with application-specific L2s using Optimistic rollups. It allows developers to launch app-specific blockchains without deep infrastructure knowledge. Initia is a network designed for interwoven rollups, offering an integrated system of modular networks. It provides the benefits of decentralization and high throughput in some features. It consists of a block size of 500ms, 10,000 TPS, and virtual machines, including Move, Solidity, and CosmWasm.
With the involvement of Omni Layer, Initia also facilitates interoperability through inter-stock chains. It also offers security with Omnitia Shared Security. It allows for complete ownership and benefits appropriation via Enshrined Liquidity, Vested Interest Program components, and transaction fee rebates that help build efficient Web3 apps.
Source: X
Conclusion
Running nodes is one way to earn cryptocurrency. To earn Crypto from running nodes, you need to understand how nodes work and how to find the right project. If you get past this, you can gain from running nodes. We had to put this article out to make things easier for you.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
