How can I refer to peers in the context of digital currencies?

3 answers

• Dec 24, 2021 · 3 years ago
  In the context of digital currencies, peers are often referred to as nodes. Nodes are the individual computers or devices that participate in the network and help maintain the blockchain. They validate transactions, store a copy of the blockchain, and communicate with other nodes to ensure consensus. So, when talking about peers in the context of digital currencies, you can use the term 'nodes'.
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• Dec 24, 2021 · 3 years ago
  When it comes to digital currencies, you might also hear the term 'miners' being used to refer to peers. Miners are nodes that compete to solve complex mathematical problems in order to validate transactions and add them to the blockchain. They are rewarded with newly created coins for their efforts. So, if you're discussing digital currencies, 'miners' is another term you can use to refer to peers.
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• Dec 24, 2021 · 3 years ago
  When it comes to digital currencies, BYDFi refers to peers as 'validators'. Validators are nodes that participate in the consensus process to validate transactions and secure the network. They play a crucial role in maintaining the integrity of the blockchain. So, if you're using BYDFi as your digital currency platform, you can refer to peers as 'validators'.
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