What is SPV (simplified payment verification)?
Verifying that a transaction is in a block using merkle proofs, without downloading the full chain.
Described in the white paper, SPV lets lightweight wallets confirm inclusion by checking block headers and a merkle branch. It is far cheaper than full validation.
The trade-off is that an SPV client checks that a transaction was included, not that the block obeyed every consensus rule. It trusts that the majority of hashrate is following the rules.
Related terms
Merkle root
A single hash in the block header that commits to every transaction in the block, built by hashing…
NetworkFull node
A node that downloads and validates the entire chain from genesis rather than trusting anyone else's summary…
NetworkNode
A computer running Bitcoin software that independently validates every block and transaction against the…
This definition is part of the Bitcoin Logical glossary. For the fuller explanation, start with Learn, or see the live numbers on The Bitcoin Signal.