Nodes are used to run blockchain applications and to validate and store the complete history of transactions on the blockchain network. Within the SCRIPT network, the P2P protocol allows nodes to communicate with one another and transfer information about new blocks and transactions. Each node on the SCRIPT blockchain can store a complete copy of the distributed ledger. Thanks to the blockchain nodes, any user can access the data and view all transactions conducted or stored on the network.
Moreover, each new node contributes to the decentralization of the blockchain network, minimizing the transaction time and lowering fees. By setting up your node, you receive a small income from the transactions that go through your channels.
Nodes participate in consensus, share information about transactions and the number of funds, confirm transactions and store copies of confirmations, and participate in building new blocks in the chain, for which they receive a reward.
Validator Nodes: These nodes are the foundation of the SCRIPT blockchain, proposing blocks for the blockchain and approving transactions in the network. One node must have 5,000,000 (5M) SCPT tokens staked to become a valid Validator Node and participate in the network.
Script Edge Nodes: Edge Nodes are a critical infrastructure component of the Script Network and Protocol. They are responsible for retrieving content from other Edge Nodes and distributing it to end users.
Lightning Nodes: These nodes are secondary layer nodes in the SCRIPT blockchain network. They validate each block, verifying these blocks are free of malicious activity or data. One node must have at least 10,000 (10k) tokens to become a Lightning node.
Both Validators and Lightnings are paid a fee for verifying transactions. Each Validator can get a share of tokens for each block, and among the Lightnings, the recipient of the reward for each block will be selected randomly. If malicious behavior is detected, Script Network will penalize the network participant/s by deducting tokens from their token rewards. The node that detects the malicious behavior sends the slash transaction to the blockchain, and the held penalty tokens will be awarded to the node that sent the slash transaction first.
Lightning Node Pool: The Lightning node pool will comprise a large number of nodes anywhere into the thousands. The Lightnings examine and check the chain of blocks generated by the Validators. Any node in the network can become a Lightning provided they lock a certain number of tokens for some time (once again, up-to-date figures for these requirements will be found at https://token.script.tv). If a Lightning pool has reached consensus on a block, this block becomes finalized in the ‘block finalization process’.
Script Node Functionalities
Script node runs on top of IFPS and stores data like video content in the network in a decentralized way. Script node allows end-users to contribute their computing power for network storage and partially alleviate SCRIPT servers of transcoding work. For their contributions, users will receive token rewards.
Note: While the Script node is isolated from the Script blockchain network, they remain programmatically connected via wallet APIs. Any user can be provided with the Script node software. This software can be efficiently run on almost any device irrespective of its operating system, and Script node operation can begin immediately after successful activation.
How To Activate Script Node?
To begin an activation, users must link their wallet address to the node. To achieve the maximum reduction in data transmission distance without compromising the quality of service (QoS), each segment can be cached in different Script nodes. The most ping optimal Script nodes will be automatically recommended to viewers. Nodes that transfer cached data are rewarded with SPAY tokens. The script, in turn, will use a selection algorithm to find the nearest neighboring nodes that can transmit data with the best speed and quality. Within an off-chain micropayment system, a user can create an off-chain micropayment that any other user can accept.