An SPV (Simple Payment Verification) node is a type of validation node in the Bitcoin network. Unlike full nodes that store the entire blockchain, SPV nodes only keep the block headers. This makes them more lightweight and efficient, but with less security guarantees.
Despite not having the full blockchain, SPV nodes are still able to verify transactions in the network by checking the proof-of-work in the block headers. Additionally, they can check whether a transaction has been validated by a full node and if it has been added to the blockchain.
FAQs about SPV nodes
Why use an SPV node?
SPV nodes offer more privacy compared to full nodes. They do not store or broadcast transaction data, only the headers, which contain no personal information. Additionally, SPV nodes can be faster and more convenient for mobile wallets or lightweight clients.
Are SPV nodes less secure?
SPV nodes are considered to be less secure compared to full nodes since they do not store the entire blockchain. If an attacker gains control of more than half of the mining power, they may be able to rewrite the blockchain and trick SPV nodes into accepting false transactions.
SPV nodes are a useful tool for those who value privacy, convenience, and efficiency, but it’s important to recognize their limitations in terms of security. It’s recommended to use SPV nodes only for small amounts and consider using full nodes for larger transactions.