Frequently Asked Questions

Answer: If you don’t download a node from our link we won’t be able to validate your node address. Your node address simply will not appear on our dashboard and we will not be able validate you.

No Validation, no Portfolio page. Sorry!

Answer: The Network runs the discord group. You’ll find our representative in there, with VIP Status, but the Moderators and the Core Team run the show.

If you need Node support the team are extremely helpful. You can create a Support Ticket yourself from the channel in the group for more in-depth follow-up. Never get diverted to another Discord “support server” by clicking false links.

Do Not respond to any DM’s or Support Links in the general chat.

As with any social media platforms, there are people our there playing their games and trying to scam others.

Team Members will never DM you first.

Documents and Tutorials are in the Official Links channel, so don’t click on anybody else’s. Not sure, ask!

Answer: Well, first off, you’ll be rewarded with network tokens. These will get your node up and running faster.

Secondly, we need to validate your username.

Thirdly, everyone in there helps each other. the core developers are in there and the different project teams are in there.

Node runners, like us, have been through all the years of Beta testing and we’re still testing new functions before they are rolled out.

Somebody always knows, and everybody shares. It’s a ‘Home from Home’ for a De-centralised world.

Answer: As we pick up speed we will be creating directory so that you can see the other portfolio owners.

They’ll share their contact details like LinkedIn profiles or social media channels and you’ll be able to link up with them. You’ll be able to view there work and understand if they have a profile  you can work with.

We suggest you reach out to form a strong network of collaborators to work on your projects together.

Answer: We’re video producers, and video producers have powerful computers. But generally you don’t use them all of the time.

After spending so much money of high-spec machines, we want them to provide a good return on investment.

Running nodes on the machines means we are effectively renting out our un-used computing power. It’s really that simple. We can run our computers whenever we choose, and especially when we’re not using them, to finance other ventures.

Answer: The most common types of Web3 nodes are:

• Full Node: Stores the entire blockchain’s history and validates transactions.
• Light Node: Stores a subset of the blockchain and relies on full nodes for some data and validation.
• Archive Node: Stores all historical data and provides access to past states of the blockchain, often used for advanced querying and analytics.
• Mining Node (or Validator Node): Participates in the process of creating new blocks (in Proof of Work) or validating transactions (in Proof of Stake).

Answer: Web3 nodes communicate using peer-to-peer (P2P) protocols. They exchange data and transactions in a decentralized manner, without relying on a central server. This ensures the blockchain’s decentralized nature and maintains synchronization across the network.

Answer: A Web3 node plays a key role in maintaining the blockchain’s integrity and security. It:

• Verifies transactions and blocks.
• Broadcasts and relays new transactions to other nodes.
• Keeps the blockchain’s state up-to-date by validating and storing new blocks.

Answer: A Web3 node validates transactions by checking if they comply with the blockchain’s consensus rules. For example, in Ethereum, a node will verify that a transaction’s signature is valid, that the sender has sufficient funds, and that the transaction is well-formed. In Proof of Stake networks, nodes also ensure the correct validation of blocks by the validators.

Answer: To set up a Web3 node, you generally need:

• A computer with sufficient resources (CPU, RAM, storage, and internet bandwidth).
• A blockchain client (such as Geth for Ethereum or other blockchain-specific software).
• The ability to sync the node with the network (which can take from hours to days depending on the blockchain’s size and your internet speed).
• Basic knowledge of command-line interfaces and configuration files.

Answer: Running a Web3 node can offer several benefits, such as:

• Contributing to decentralization and supporting the network.
• Gaining a better understanding of how blockchains work.
• Enabling full control over your interactions with the blockchain.
• Potentially earning rewards (e.g., staking rewards in Proof of Stake networks).

Answer: A light node (or light client) is a Web3 node that does not store the entire blockchain but instead stores only the necessary data to verify transactions and interact with the network. It relies on full nodes for the missing data and is much faster to sync and lower in resource requirements.

Answer: An archive node is a type of Web3 node that stores the entire history of the blockchain, including all historical states, contracts, and balances. It’s used for advanced queries, analytics, and historical data retrieval. Archive nodes are typically more resource-intensive and are not needed for day-to-day operations.

Answer: A peer-to-peer (P2P) network is a decentralized network where each Web3 node communicates directly with others. Instead of connecting to a centralized server, each node shares and receives data with other nodes, ensuring redundancy, security, and decentralization.

Answer: Depending on the blockchain, Web3 nodes can earn rewards:

• In Proof of Work networks (like Bitcoin), mining nodes earn rewards for solving complex mathematical puzzles and adding blocks to the blockchain.
• In Proof of Stake networks (like Ethereum 2.0), validator nodes can earn rewards by staking tokens and validating blocks.
• In delegated Proof of Stake (DPoS), nodes may earn rewards for being elected as block producers.

Answer: Common issues include:

• Syncing issues: Nodes may struggle to sync with the network if they are too far behind.
• Storage limitations: Full and archive nodes require significant storage, which can be a problem for nodes with limited disk space.
• Network connectivity: Poor internet connections can cause nodes to fall out of sync or fail to communicate properly with other nodes.
• High resource consumption: Running a full node can be resource-intensive, requiring considerable CPU, RAM, and bandwidth.

Answer: Web2 is the current version of the internet, where platforms like Facebook, Google, and Amazon act as intermediaries that control user data. Web3, on the other hand, is decentralized, using technologies like blockchain to give users ownership and control over their data, identity, and transactions.

Answer: Blockchain is a distributed ledger technology that securely records transactions across multiple computers, ensuring that data is transparent, immutable, and cannot be tampered with. It forms the backbone of Web3 by enabling trustless transactions and decentralized applications (dApps).

Answer: Cryptocurrencies are digital assets that use cryptography for security and operate on decentralized networks. They play a significant role in Web3 by facilitating peer-to-peer transactions and enabling the creation of decentralized finance (DeFi) systems, NFTs, and more.

Answer: Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They run on blockchain networks, ensuring transparency and eliminating the need for intermediaries, making them fundamental to decentralized applications.

Answer: dApps are applications built on blockchain networks that are not controlled by a central authority. They provide users with more control over their data and are typically more transparent and secure than traditional apps.

Answer: NFTs are unique digital assets that represent ownership or proof of authenticity of an item, such as art, music, videos, or collectibles, using blockchain technology. They are often used in Web3 as a way to buy, sell, and trade digital ownership.

Answer: A DAO is an organization that is governed by smart contracts and operates without centralized leadership. Decisions within a DAO are made by voting from its members, usually using tokens, and all activities are recorded on a blockchain.

Answer: Gas fees are the transaction costs required to execute operations on a blockchain network, particularly on Ethereum. These fees are used to incentivize miners or validators to process and verify transactions.

Answer: Some risks of Web3 include lack of regulation, the potential for scams and fraud, the complexity of using decentralized systems, and the environmental impact of certain blockchain networks. There’s also the risk of losing private keys and irreversible mistakes with transactions.

Answer: Web3 allows users to maintain greater control over their personal data, reducing reliance on centralized entities that often harvest and sell personal information. However, it also comes with risks, such as losing access to wallets or falling victim to phishing scams.

Answer: Interoperability refers to the ability for different blockchain networks to communicate and share data. In Web3, interoperability is crucial for enabling decentralized applications to work across multiple blockchain platforms seamlessly.