An Elrond node requires a host (computer) with the aforementioned specifications, with the OS - preferably Ubuntu 18.04 - installed. First you will deploy the Elrond scripts, tune its parameters and ensure proper user permissions. Then you will install the node, backup its private keys and start it. Further steps include optional configurations, such as an automatic update feature for the testnet or a Telegram bot for monitoring.
Let's dig in.