Nodes serve as a fundamental building block of the decentralized infrastructure by connecting computers to the blockchain. Nodes play a crucial role in verifying and validating transactions, ensuring consensus among participants, and maintaining the integrity of the blockchain's data. These nodes collaborate through consensus mechanisms to collectively agree on the state of the blockchain, thus preventing fraudulent or unauthorized changes. In essence, nodes facilitate the trustless and transparent nature of blockchains by contributing to the security and reliability of the network's operation.
When you purchase node licenses, they grant entry to the Element DGF, confirm transactions on the Element Blockchain, and earn ELMT-P distribution. There are two types of node licenses: Smart Nodes and Lite Nodes.
Smart Nodes are high-value options for committed supporters. Offering 100 times the amount of daily rewards compared to Lite Nodes, they provide significant value for their price. There is a total supply of 100,000 Smart Nodes available for purchase, each providing one vote when a proposal is active.
Lite Nodes have a much lower cost and offer an accessible entry point for those who wish to contribute to the Element blockchain. There is a total supply of unlimited Lite Nodes available for purchase, each providing 1/100th of the daily rewards compared to Smart Nodes and only 1/250th of a vote when a proposal is active.
For more information on the different types of nodes, their respective costs, benefits, and reward mechanisms, review the information provided in the charter and/or litepaper.