Now, let's take a look at the various functions that participants on the Bitcoin network perform. These network peers (participants in the network) are referred to as nodes. All nodes can verify transactions, send their own transactions across the network, and keep a full or partial copy of the blockchain database.
In addition to the aforementioned functions, nodes on the network are sometimes involved with the mining function, which we discussed in Chapter 6, Five Forces of Bitcoin – #3 Consensus Algorithm. This involves calculating the Proof-of-Work algorithm and creating new blocks.
Not all nodes on the Bitcoin network do mining, as it requires substantial resources and specialized equipment.