Why should you run a Ethereum Full Node?

A Full Node is a computer that stores and manages a full copy of the ethereum blockchain. By running a Full Node, you can ensure that you have full control of your ethereum without having to rely on third parties such as ethereum exchanges or wallet providers. In this article, we will take a closer look at why it makes sense to run a ethereum Full Node and the benefits it offers.

What is a Full Node?

A Full Node is a complete copy of the ethereum transaction history starting from the first block, the Genesis block. With the help of your own ethereum Full Node, you can independently verify, send and receive transactions while strengthening the ethereum network. The more Full Nodes communicate with each other, the more secure and decentralized the network is from possible attacks.

Ethereum Full Nodes also communicate with each other, securing the network. Blocks and transactions are accepted and checked by the full nodes. If no irregularities occur, these are in turn forwarded to other nodes.

Ethereum Learning Process and Custody

When learning about ethereum, people often start by buying it through an exchange or brokerage platform and leaving it there. The next step is usually to learn how to store ethereum yourself by transferring it to a non-custodial wallet where you have control over the private keys.

However, in order to gain full control over one's ethereum, it is important to use one's own Full Node. This allows one to verify the integrity of the network and improve the security of their transactions.

Complete Sovereignty

In order to use ethereum directly without the involvement of third parties, it is essential to operate a Full Node. If you want complete monetary sovereignty, you need to set up your own Full Node.

Trusting wallet providers, brokers, or exchanges to keep your own ethereum safe goes against ethereum's fundamental philosophy of «don't trust, verify».

Only by operating your own ethereum Full Node can you eliminate these uncertainties and ensure that you have full control over your own ethereum holdings.

Voting Rights in the Ethereum Network

By running your own Full Node, you are contributing to the maintenance of ethereum's rules. This can benefit both you and the ethereum network as a whole.

The rules of ethereum are determined by a shared consensus of the participants in the network. Each Full Node communicates with other Nodes to ensure that these rules are followed.

Upgrades in the Ethereum Blockchain

Upgrades can be proposed in the ethereum blockchain. If this is the case, each Full Node decides for itself whether it wants to accept and implement the upgrade or stay with the old version. These individual decisions indirectly lead to a vote on the upgrade.

Depending on how the Full Nodes decide, two factions are formed: A group of Full Nodes that stay with the old version and a group of Full Nodes that implement the upgrade. When there is a clear separation between the two groups, it is called a hard fork in ethereum.

This has already led to several hard forks in ethereum, which resulted in Litecoin and ethereum Cash, among others. You can only participate in this voting process with your own Full Node.

Verify Transactions yourself

By running your own Full Node, you have the ability to independently verify transactions on the ethereum network. This means that every transaction that has ever taken place on the network is verified by your Full Node. Thus, you can be sure that the transactions and holdings on the network are correct without having to rely on the verification of others.

Support Network

The more Full Nodes are connected to the ethereum network, the more secure it is. This is because as long as honest nodes can outvote the attacker, the ethereum network is secure.

A larger number of active Full Nodes makes the ethereum network more resilient to attacks, as it does not depend on a few central service providers that millions of users have to rely on.

The decentralized distribution of Full Nodes increases trust in the ethereum network because more users are able to validate transactions independently.

Learning Effect

Running a ethereum Full Node is not only a way to maintain full control over ethereum, but it also provides a great opportunity to better understand the ethereum protocol and underlying technology.

By running a Full Node, you can gain deeper insights into how the ethereum blockchain works and understands how transactions are sent and confirmed.

Setting up a Ethereum Full Node is easier than you think.

In practice, a Full Node is usually a Raspberry Pi with an external hard drive and internet connection. You interact with the Full Node mainly through your regular computer. Once installed, your ethereum Full Node runs day and night, keeping your copy of the ethereum blockchain up-to-date and error-free.

Ethereum Full Nodes Implementations

There are several implementations of ethereum Full Nodes, all of which provide the same basic functionality but may have different features. Examples of Full Node implementations include Raspiblitz, Umbrel, Citadel, or myNode.

Conclusion

Overall, there are good reasons why you should run a ethereum Full Node. A Full Node allows one to operate independently and autonomously, as you have full control over your ethereum transactions and do not have to rely on third parties such as exchanges or wallet providers.

Operating a Full Node can be a rewarding experience that helps one better understand the ethereum protocol and participate in maintaining the decentralized nature of the ethereum network.