AddNode.io is a NAAS (Nodes As A Service)
Created By: Geet Premur
“The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes. “ ~Satoshi Nakamoto
AddNode is a new cryptocurrency setup that aims to bring the all important use of altcoin nodes to fuel new cryptocurrencies, wallets and other applications with more servers, more nodes, and a safer and securer blockchain.
But what is a node in a cryptocurrency system?
The use of nodes in any cryptocurrency network working on distributed consensus cannot be understated. While miners take most of the center-stage when it comes to the general public’s eye, it is the network of nodes that actually do all of the transactions and keep a full record of the blockchain based on the distributed consensus approach.
To further understand the subject of nodes, you must understand how the blockchain works. Now the blockchain is a public ledger and you can actually access it on your own and everyone can help maintain the blockchain by becoming a miner or setting up a node or do both.
The way it works is that miners assemble the transactions after some work in their cryptography of things into block and then they hand it over to a fullnode, a node with a full copy of the blockchain and the ability to independently verify the transaction. Just like with miners, everybody can build a node and operate it.
Some nodes are fullnodes with a full copy of the blockchain and can independently verify information. Most wallets own this kinds of node(s) and therefore they are able to give you confirmations of transactions pretty instantly even though the blockchain hasn’t been confirmed by the consensus. There are also nodes with smaller bits of information and only have a part of the blockchain stored in them.
The Node then tallies it with its own copy of the blockchain and makes a decision whether it is genuine or not. Then it communicates the fully verified transaction with the rest of the network. Now the altered blockchain will be verified by all other nodes in the network. If the transaction doesn’t make sense and violates the protocol, the node that is responsible for it is ignored by the system and isolated by it.
So basically it becomes the dunce of the node class and even that isolation is based on consensus. That is the beauty of the distributed consensus system. Every node mistrusts each other and aims to verify the information following strict protocol. This is the way node owners are able to maintain a non-adulterated public ledger over something as unreliable as the internet circles.
How do you add a Node?
Adding a Node is a way to connect with established nodes in the current nodosphere of a cryptocurrency like bitcoin. For example if you have just setup an new node and want to connect with other nodes. You can do it by the adding a node through Add Node process:
addnode= from the commandline
addnode= in the conf file
Once a connection has been established, your node will now be operational. You can also use the same setup for mining as well.
What AddNode Currency aims to achieve in the process?
This is where the new currency also named AddNode comes into play. ANDE is the currency of the new system. It provides a network of distributed servers around the world that provide Nodes as a Service.
The scalability and the growth of the overall system increases as more players enter as servers. Now their offer is to new currencies that are struggling to deploy nodes across the world to maintain and support their consensus-based cryptocurrency blockchain or the ones who are looking to add more nodes.
Even individuals who want to set up a node for their wallets or just for confirmations of their transactions can benefit from the immense network of nodes available around the world through AddNode and its coin. An AI based Node Deployment Engine automatically creates the nodes and manages them. It takes into account the peer locations and other important bits of information that helps it decide which node you require.
What if there aren’t enough nodes on the network?
Now the payment of setting up a node is paid through the native currency of the system called ANDE. The currency can be mined on the Proof of Work system that is adopted by AddNode system. Due to the rapid deployment of cryptocurrencies around the world, nodes are in demand and until now, there is not a system to deploy this number of nodes for a consensus-based public ledger.
If there aren’t enough nodes to maintain the blockchain, the reliability of the blockchain will take a hit and the safety of transactions could be compromised. There is a reason why bitcoin blockchain is considered the safest transaction record book in the world. It is because thousands and thousands of nodes (around 30,000) and miners help maintain the system. The miners load the transactions into the blockchain and nodes confirm it through consensus and then it becomes a part of the blockchain.
If the nodes are less than the minimum requirement, the currency is just not safe enough. This is what AddNode is offering; the ability to set up nodes for any new cryptocurrency or anybody else who is interested.
The problem with nodes is not only limited to public blockchain ledgers like the ones popular cryptocurrencies use. There is also the case of private ledgers in which organizations who want firm control over their system but still aim to use blockchain use the technology. They also need nodes but they base strict conditions on nodes including adopting changes what they propose in the new system. In contrast the bitcoin public blockchain protocol cannot be changed unless each and every node agrees on that simultaneously. So, in the private blockchain space, AddNode can also work miracles.
AddNode is not yet another cryptocurrency who just exists to trade. It is a genuine tech-based approach to help new coins launch and further the possibilities of the blockchain.
PLEASE NOTE: The price is 5 EXL Tokens for 1 ADDNODE(ANDE)