- SPV don’t store the full information like full node. SPV can use information from a full node.
- Node accepts a new transactions and add it through the network.
- A miner picks the transaction with the highest TX fee.
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- SPV doesn’t have a copy of the blockchain and need to connect to a full node to get the information.
- When a transaction is propagated to all of the nodes.
- Miner will picks transactions from a memopool that has more fees.
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SPV doesn’t have a full node and doesn’t have a copy of blockchain. It only query different node until it satisfied to verify a transaction. Unlike on full node, it have a copy of entire blockchain that can verify a transaction.
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It means that the transaction is propagated on every node before appending the blockchain.
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the miner will choose depending on the highest transaction fee. the higher the transaction fee the faster you get in the blockchain.
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[quote=“ivan, post:1, topic:8444”]
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What is the difference between a SPV (simplified payment verification) and a full node?
An spv doesnt have copies of the full blockchain and needs to connect to a node to get it, -
What does it mean when a transaction is broadcasted?
it is put out for the nodes to spread and confirm its autheticity. -
How does a miner pick which transactions that gets added to the next block?
A miner picks transactions from the mempool which has been verified from the nodes. The miner will pick ones with highest tx fees and block reward.
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What is the difference between a SPV (simplified payment verification) and a full node? A full node has a version of the full blockchain and cannot create transactions. A SPV can create transactions but does not hold any block data. Both of these communicate with each other when a transaction is broadcasted.
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What does it mean when a transaction is broadcasted? The transaction is sent in to the Mempool whereby miners pick up the transactions to insert in to a block which will then be broadcasted to all of the nodes on the network.
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How does a miner pick which transactions that gets added to the next block? They usually pick the transaction with the highest fee.
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What is the difference between a SPV (simplified payment verification) and a full node?
An SPV does not contain a full copy of the hole blockchain and must query a full node for UTXOs etc -
What does it mean when a transaction is broadcasted?
The transaction is accepted and propagated through the blockchain. -
How does a miner pick which transactions that gets added to the next block?
The miner picks transactions form the mempool with the highest sat/B value.
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1.What is the difference between a SPV (Simplified payment verification) and a Full node?
Full nodes have a full copy of the blockchain, SPV’s are light weight versions of nodes that trusts the version of the blockchain that nodes around them have accepted.
2.What does it mean when a transaction is broadcasted?
The transaction is created from UTXOs by wallets and then sent to the mempool awaiting a miner to append it to their block.
3.How does a miner pick which transactions that gets added to their next block?
The miner picks the transaction with the best sat/byte ratio and adds it to their block.
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An SPV is essentially a cryptocurrency wallet. It broadcasts transactions and can receive transactions through communicating with a full node. A full node contains the full blockchain and confirms transactions for miners and the network.
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When a transaction is broadcasted it is signed by an SPV, or wallet, and sent to a node to be distributed into the mempool. It then waits to be picked up by a miner and added to the blockchain.
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A miner chooses transactions that have the highest fees attached to them, as well as ones with the least amount of UTXO’s and outputs attached to them. The transactions with the least amount of bytes attached to them get chosen so that transactions with higher amounts of bitcoin, or money, are not prioritized over others.
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1)What is the difference between a SPV (simplified payment verification) and a full node?
2)What does it mean when a transaction is broadcasted?
3)How does a miner pick which transactions that gets added to the next block?
1)An SPV is used on a mobile phone for instance.It cant hold the full blockchain so it asks another node for the information.
2)When it has been signed off from the wallet then sent to the mempool.
3)The one thats prepared to pay the higher fee.Or the one which takes up less bytes in the block.
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1)spv is kind of a smaller brother or lightweight clieint compared to a a full node. they do not store the full blockchain on it, but they can query full nodes for information and so verify, if transactions are on the blockchain without storing them themselfs.
A full node stores a copy of the full blockchain locally and can fullfill more tasks (i.e. update blockchain with new block
2)sending out the transaction to the network. it is initiated from the wallet and spreads from node to node
3)as he is incentiviced with the transactions fees of a block, he generally chooses those transactions that are paying the highest fees
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SPV only holds some of the network and must connect to a full node to verify transactions etc as a full node does have the entire network in real time on record.
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A broadcasted tx means a wallet/private key has verified the tx and has been sent out to the network to be verified by nodes and then added to the mempool.
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Usually a miner will pick txs with the highest fees.
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SPV does not have full information from the whole block chain. It query’s information from the nearest node.
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It means that the transaction has been added to the mempool and is waiting to be mined into a block.
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Miners tend to choose transactions with the highest transaction fee so they can earn more.
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- What is the difference between a SPV (simplified payment verification) and a full node?
Spv wallet cant store all the info Utxo(normally used on Mobile )A full can store can do that - What does it mean when a transaction is broadcasted?
When is spread between the Nodes - How does a miner pick which transactions that gets added to the next block?
Probably the most important is the fee they can get .Maybe simple and good paid transaction are the one they prefer
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- An SPV- for ex. a smartphone stores only part of the Blockchain, as opposed to a full Node which has the whole chain.
- When a transaction is broadcasted, it is propagated throughout the block chain via the nodes and enter the mempool until they are confirmed as correct and finally placed into a block and linked to the blockchain.
- A miner picks transactions from other nodes or from his own node based on the amount of the fee that transaction will bring him. The higher the fee (based on the number of bytes the transaction is composed of) the greater the chance that transactions will be taken.
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- Nodes contain a full copy of the blockchain data, which is quite large in size. Nodes will (generally) query it’s own (local) store of data. SPV are generally constrained for their “space”, and will query a node for relevant data rather than using a local store.
- A node has verified, accepted, and added the transaction to it’s mempool, the information is now propagating to other nodes.
- Usually (but not always) miners will choose to add transactions with the largest Tx Fee.
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1.What is the difference between a SPV (simplified payment verification) and a full node?
SPV does not contain full blocakchain and must query full-nodes to read blockchain
2.What does it mean when a transaction is broadcasted?
Full-nodes broadcast and replicate all txns to network
3.How does a miner pick which transactions that gets added to the next block?
Generally, they pick txns in order of highest to lowest fees to maximize income
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- What is the difference between a SPV (simplified payment verification) and a full node? SPV doesn’t contain a copy of the blockchain. It must query a full node for blockchain status.
- What does it mean when a transaction is broadcasted? If TX is valid, it will be sent to every other node and put in mempool to be mined.
- How does a miner pick which transactions that gets added to the next block? The miner will generally pick the TX with the highest fee.
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- What is the difference between a SPV (simplified payment verification) and a full node?
The main difference between an SPV and a Full Node is that the SPV does not carry the blockchain but but must query a node to get the blockchain transactions and to complete a transaction. The full node holds the private keys as well as the entire copy of the blockchain. Nodes can
also sign off on transactions.
- What does it mean when a transaction is broadcasted?
It means that the transaction is sent out or propagated to all the full nodes in the network.
- How does a miner pick which transactions that gets added to the next block?
Miners select transactions from a mempool and choose the transactions with the highest transaction fees.
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- What is the difference between a SPV (simplified payment verification) and a full node?
SPV node’s download the block headers only and exclude the transactions of each block. So they have a chain of blocks without transactions and this makes possible to have a resulting data amount stored locally over thousand times lower in size.
Full nodes keep a complete copy of all the bitcoin blockchain with all the transactions.
- What does it mean when a transaction is broadcasted?
Means the transaction is valid, the node put this transaction into Mempool, wait the miner come to pick it up.
- How does a miner pick which transactions that gets added to the next block?
A miner goes for transactions with the highest fees inside of the mempool to add to the next block.
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- SPV does not run/ record blockchain. When needed it just ask other nodes for inforation on blockchain.
- It means that a wallet sends it to the network. This transaction is signed with a private key.
- It chooses the ones with larger fees.
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