- Spv only holds part of the blockchain ledger. It is normally ran from a cell phone or a smaller device that doesn’t have enough storage to hold all the information of the whole ledger. Spv normally connects to a nearby node. A full node holds the complete history of the blockchain.
- Once you send a transaction from your wallet it goes to a node. The node then broadcast the transaction for miners to pick it up for verification.
- Miners normally pick transaction according to the fee attached to the transaction. The bigger the fee the more likely it is to be picked up.
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A full node contains the networks entire blockchain whereas an SPV queries the block headers of nodes in the network to see if the TX is in the mempool making it possible to verify payments without a full network node.
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When a transaction is broadcasted it means a wallet has initiated a transaction and is propagating the information between nodes in the network.
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A miner picks transactions from the mempool with the highest transaction fees.
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SPVs are nodes that do not hold the full blockchain (i.e mobile device) - they trust a full node for a full copy of the blockchain.
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When a transaction is broadcasted it means all nodes on the network have propagated the transaction and the network has access to view the transaction on the blockchain.
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Miners are incentivized to choose transactions with the highest fees to add to their next block.
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An SPV does not hold the entire blockchain, it replies on a full node for their copy of the blockchain. A full node requires more computing power than an SPV which could be used on a mobile.
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A transaction is broadcasted when a node receives a signed transaction which is propagated across all other nodes in the network.
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Miners will pick the the transactions with the largest difficulty, ie the most POW work required to hash or the transaction with the largest fee.
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a node has the full version of the blockchain while an svp doesn’t and needs to query a node for the info, further an svp creates transaction not the nodes
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it means the transaction have been sent to a node to be propagted througout the network.
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usually the miners will look to add the transactions with the higher fees
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- What is the difference between a SPV (simplified payment verification) and a full node?
The full node always keeps a local version of the entire blockchain and updates it with each new block. A SPV doesn’t do that, so in order to read the blockchain it has to query it from a few full nodes.
- What does it mean when a transaction is broadcasted?
It means that the wallet which created the transaction sends it to the network so the nodes can pick it up and put it in the mempool.
- How does a miner pick which transactions that gets added to the next block?
He usually picks the transactions with the highest fee because if his block gets accepted the transaction fees will be part of his reward.
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1 : A simplified version of a node. Usually made for mobile devices, wallets. SPVs don’t store the full blockchain but they trust nodes blockchain. They let you broadcast transactions like a normal node.
2: it is propagated to the network. It goes to the mempool first, waiting for a miner to put it in a block
3: they pick the ones that are rewarding them with the most Satoshis per byte (sat/byte). So the high paying TX have the priority, while the low ones are kept at the bottom of the mempool
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- What is the difference between a SPV (simplified payment verification) and a full node?
A. An SPV contains just your private key and ro access the blockchain, must query a full node which contains both private key and blockchain.
- What does it mean when a transaction is broadcasted?
A. A transaction is broadcasted when it is shared with the nodes.
- How does a miner pick which transactions that gets added to the next block?
A. A miner picks the block with the highest fees from the mempool.
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What is the difference between a SPV (simplified payment verification) and a full node?
An SPV does not contain the entire blockchain whereas a full node does. They take up less space and therefore can be used on a smartphone but when an SPV wants to send a transaction, it must query full nodes that it trusts in order to validate its UTXOs. -
What does it mean when a transaction is broadcasted?
A new transaction has been created from UTXOs and it’s waiting to be picked up by the network and added to the mempool and subsequently added to the next possible block. The speed at which it is picked up depends largely on the size of the mempool and the amount of the transaction fee. -
How does a miner pick which transactions that get added to the next block?
Miners choose transactions with the highest transaction fees.
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A full node is a complete version of the bitcoin blockchain downloaded to a computer. It allows the user the connect to the bitcoin network. The greater the number of nodes the more secure and stable the network. An SPV is a shortened copy of the blockchain which includes on the block header and not the complete list of transactions. An SPV takes much less storage than the complete blockchain but can still be used to verify transactions by requesting only the information about individual transactions. Its is worth noting that this a way used to trace transactions as the SPV only requests information on specific transactions relevant to the wallet, and is also less secure as a node could return false or outdated information to the SPV. This is combated by querying a number of nodes for confirmations.
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When a transaction is broadcast it is submitted to a node or nodes for inclusion to the mempool. The nodes exchanges information with other nodes in the network and the unspent transaction is spread across the network.
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A miner is able to pick any transaction for inclusion in the next block but would normally select the transactions with the highest fee per byte to maximise profit.
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SPV also contains some parts of the blockchain (mostly just the parts that are important to the keys it holds)
You probably meant that it picks a transaction, not block 
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1.- A full node has stored a copy of the whole blockchain, while the SPV doesn’t.
2.- It means that the transaction has been added to a mempool which is ready to be picked by the miners.
3.- It may depend on the distance of between the SPV or the node and the miner. And miners will choose transactions typically with higher fees. The higher the fee it’s a better incentive for them to mine the transaction faster.
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A SPV does not have the complete copy of the entire blockchain. It has some of the information. When a transaction happens, it will look at other nodes and use their information of the blockchain. A full node has the entire copy of the blockchain since genesis.
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A transaction is broadcasted after the wallet uses the private key to sign a transaction and sends the information to other nodes in the network.
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Miners pick the tx with the highest fee to be added to the next block. Tx fee is based on Satoshi per bite.
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An SPV does not have the whole blockchain, only a part of it.
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The transaction is propagated out to other nodes the wallet/node knows about.
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It will look for transactions with the highest fees.
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Thank you for the feedback , I will correct it .
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An SPV only receives a portion of the blockchain. They basically entrust the rest of the blockchain to a full node to save space on the device. These are typically mobile wallets.
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A transaction is put into the mempool where a miner will pick it up.
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They will choose the ones with the highest fees.
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A full node contains a full copy of the ledger. An SPV scans a trusted node, or looks at the headers of the most recent blocks to make sure they are valid and connected in the chain.
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A transaction is broadcasted when it is accepted by a node and sent to the network.
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Miners like to choose transactions that are paying the highest fees when they are creating a block.
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Exactly. Its a lightweight client that allows us to interact with the blockchain with a bit of a trust towards a full node. 
Homework on Bitcoin Ecosystem:
1.An SPV does not have a copy of the block chain and needs to obtain information from a full node
2.When a transaction is shared between nodes.
3.A miner will pick the transactions with the highest Fee’s.
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Blockhain network is a collection of nodes, so it may be better to say that our transaction is being propagated throughout the network rather than just being sent. Either way great answer.
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