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# Waves Node

A node is a crucial component of the blockchain network. It stores a copy of all the blockchain data, validates transactions and blocks, and synchronizes the data with other nodes. The decentralized network is maintained by hundreds of independent nodes, ensuring that no single entity has sole control over the network or the ability to manipulate data.

Waves is a public blockchain that allows anyone to launch their own node and join the network. The Waves application can be installed and run on an ordinary computer. Installation options are given in the Install Waves Node article.

# Node Architecture

The main components of the Waves node are as follows:

  • Network layer provides interaction with peer nodes.
  • Validator checks transactions and blocks against blockchain rules.
  • Database stores validated and confirmed transactions and blocks, as well as the current state of the blockchain: balances of accounts, entries of account data storages, assigned scripts etc.
  • UTX pool contains unconfirmed transactions until they are included in a block.
  • Block generator creates blocks that are added to the blockchain.
  • Node REST API is an interface for receiving blockchain data, sending transactions to the blockchain, and more. For detailed information, see the Node REST API.

# Validating Node

Any Waves node works as a validating node, regardless of its WAVES balance. It checks transactions and blocks received from other nodes against blockchain rules, discarding invalid transactions and blocks.

Additionally, any node can propose new transactions that will propagate in the network until they are included in a block or discarded.

# Generating Node

A node with a generating balance of at least 1000 WAVES can participate in block generation and receive rewards. The node's chance to generate a block is proportional to its generating balance, according to the Leased Proof of Stake (LPoS) algorithm.

The generating balance of an account is its lowest balance in WAVES considering leasing over the last 1000 blocks. The leasing mechanic allows nodes to attract funds from users to increase their generating balance, frequency of block generation, and resulting income. More about leasing

Keep in mind that a node with a minimum balance of 1000 WAVES generates only about one block per month. Without a significant amount of WAVES, it is better to participate in block generation by leasing WAVES to higher-performance generators.

The list of generating nodes in the Waves network, their balances, and block statistics are available at w8.io.

To run a generating node and receive rewards, follow the instructions.

# Generator's Income

Block generators receive rewards for adding a new block to the blockchain:

  • Generator's share of the block reward. The current reward size is 6 WAVES, of which the generator receives 2 WAVES.
  • Waves DAO LP tokens (WAVESDLP) corresponding to Waves DAO's share of the block reward.
  • Transaction fees. The node receives 40% of the total fees for transactions in the current block and 60% of the total fees for transactions in the previous block, according to Waves-NG protocol.

The calculation of the rewards is described in more detail in the Generator's Income article.

# Apps

To develop and run a decentralized application, you do not have to run your own node. You can receive blockchain data and send transactions signed by users via API of pool of public nodes.

However, running your own node provides you with additional options:

  • interact with the node without network latency,
  • make more frequent requests than allowed by the limitations of the public pool,
  • customize the node configuration with respect to your app,
  • install node extensions, for example, Blockchain Updates to track changes,
  • create your own node extensions.

# Node Scala and Node Go

The Waves node has two implementations:

  • Node Scala is the main version providing maximum functionality.
  • Node Go is the alternative version focused on high operation speed and interaction with gPRC services. Node Go is currently under development and not recommended to use in mission-critical projects.

Running two different applications in parallel makes the Waves network more sustainable to protocol implementation errors. Differences between the two versions are highlighted in the Node Go article.

Genesis Block
Leasing