Validators
Last updated
Last updated
A is a crucial part of the () consensus mechanism whose responsibility is to verify blocks to earn rewards. The decentralized nature of technology makes it impressive and so promising that more and more people are adopting it. Every blockchain has building blocks that are called . They are responsible for holding data but this data needs to be first validated or verified on the blockchain network. That’s where a validator comes into play. There are two common validation protocols of a blockchain network, which are and Proof-of-Stake.
Much like a banker who is responsible for verifying a transaction before its processing, a validator verifies each incoming transaction.
A transaction can only be completed and its record can be added to the blockchain once its accuracy and legal authenticity are checked—that’s done by a validator.
In the Proof-of-Stake mechanism, a validator determines whether or not a transaction conforms to the rules that deem it as valid. The entire process makes a blockchain network secure and transparent.