Web3 Wallet Infrastructure Suite

A node wallet is a type of cryptocurrency wallet that is integrated with a blockchain node. Some blockchains, like Waves, allow these nodes to have their wallet. This wallet is separate from the user wallets and serves a few purposes:

• Transaction fees: Validating transactions takes processing power. To prevent spam, some blockchains charge a small fee for each transaction. The node wallet can hold these collected fees as a reward for the node's work.
• Network governance: Think of the node wallet as a voting account. In some blockchains, nodes can participate in voting on network upgrades or changes. The weight of their vote might be tied to the amount of funds they hold in their node wallet.

The node wallet, in this case, means a dedicated account for the node itself, used to keep the network running smoothly and incentivize participation.

There are many types of crypto wallets. Hardware type is physical devices known for high security. Software wallets are apps on computers or phones, easy to use. Paper wallets are simply printed keys, providing offline security. Custodial wallets are managed by third parties, like exchanges, which are convenient but offer less control. Non-custodial wallets give users full control over their keys and funds.
A node wallet differs from other wallets in that it operates directly on an operating blockchain node. So the main differences are hiding here: 

• Regular wallets store your crypto, while node wallets hold funds for the node's operation (fees, voting).
• You have full control over your regular wallet. Node wallets are controlled by the node software tied to the functionality of the whole blockchain.
• Regular wallets prioritize your access and security. Node wallets are part of the network security and validation ecosystem.

It ensures top security by independently verifying transactions, so you’re not relying on others. It boosts privacy since there’s no third-party involvement in your transactions. By running a node, you help support and decentralize the network, making it stronger. You have complete control over your funds, without depending on external services. Plus, you get full transparency, with access to the entire blockchain history. But it comes in some technical costs. 

The requirements for running a node wallet depend on the specific blockchain, but generally involve two aspects:

• Node hardware: You'll need a computer with enough processing power, disk space, and bandwidth to run a full node for the blockchain. This can vary depending on the blockchain (e.g., Ethereum requires more resources than Bitcoin).
• Blockchain software: You'll need to install the specific software for the blockchain that allows node wallets. This software will handle downloading the blockchain history, validating transactions, and potentially managing the node wallet itself.

We can run a node wallet for you—or help to launch it in your environment. Send us a request, if you need it now.

No, typically a node wallet wouldn't support multiple cryptocurrencies. Node wallets are designed for a specific blockchain. Each blockchain has its own rules, protocols, and native currency. A node wallet is tailored to its native blockchain. From the functional point of view, their primary purpose is to support the operation of the node, not to function as a general crypto storage solution.
But, there might be some rare exceptions in blockchains with built-in support for multiple tokens or assets, in most cases—they run on light nodes, not the full ones.

Node wallets act as a security layer by creating a network of nodes with "skin in the game." These wallets hold rewards for validating transactions, and in some cases, voting rights. This incentivizes more nodes to participate, making the network harder to attack. 
Furthermore, compromised node wallets wouldn't directly impact personal holdings, reducing the risk of malicious actors manipulating the network through compromised nodes. It's a system where strong node participation and aligned interests lead to a more secure blockchain.

The concept of a node wallet typically applies to full nodes. They can leverage node wallets to hold rewards for their work and potentially even voting rights within the network. So there’s no “light node wallet” in the general meaning.
However, there's a wrinkle with Simplified Payment Verification (SPV) wallets. SPV wallets, like light nodes, don't download the whole blockchain. They rely on full nodes for transaction validation. While not true node wallets, some SPV wallets might offer functionalities like sending and receiving cryptocurrency. However, they usually lack the core functionalities of a node wallet, such as earning fees or participating in governance through voting.

Four steps that require technical knowledge and advanced hardware in 100% availability with high bandwidth for setting up a node wallet:

• Pick a blockchain that supports node wallets.
• Find the official software for running a full node on that blockchain.
• Follow the instructions to set up the node software, which might involve specifying data storage location and network settings.
• Create a wallet (optional):  Some blockchains might prompt you to create a node wallet during configuration.