Again, thanks for that. I had actually read the white paper and did (kind of) understand the tangle traversing etc. But I wasn’t sure where the PoW occurs. You clarified that. So, I get it now.
Another question related to this, may not be relevant here and certainly not technical.
With a miner node on a traditional blockchain (BTC, ETH), there is reward - mined coins and/or transaction fees for doing PoW. This gives an incentive for people to run full nodes (do PoW). With tangle (IOTA), the verification task is split between a full node and the wallet. The wallet (e.g. me) has an incentive to do PoW - I want to attach my transaction to the tangle. I can either run a full node myself or rely on a provider to do the ‘due diligence’, as you put it. Other than wanting to support the network, what incentive does a public full node provider have to invest their resources into running a full node? Someone like Bitfinex, for example, clearly has an incentive - they make money off IOTA trades and have a vested interest in seeing the currency operate well. Other exchanges will be similar, when they come on board. Same can be said about the original brains trust behind the technology and/or those who bought on early and may be set to benefit handsomely from the meteoric rise. But as community members in general, I am struggling to see why someone would want to run a full public node, since they wouldn’t get any ‘fee’ payment (BTC verification fee, or ETH gas etc.) and well… all IOTA supply already exists so nothing new is there to be mined.
Thanks for your clarifications for so far. Looking forward to learning more.