A computer that runs the Bitcoin program. It is connected to to other computers running the same program and together they form the Bitcoin Network.

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The Bitcoin Network functions in the following way:
Firstly, new transactions are broadcasted to all nodes. Then, each node gathers new transactions into a block. Next, each node works on finding a Proof-of-Work for its block. Once found, it broadcasts the block with the resultant PoW hash to all nodes. Nodes accept the block only if all transactions in it are valid and not already spent. Nodes express their acceptance of the block by working on creating the next block in the chain, using the hash of the accepted block as the previous hash.


Bitcoin Network

Nakamoto, Satoshi. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System. https://bitcoin.org/bitcoin.pdf

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