What is validator? The role of digital currency validator in blockchain

Validator is an essential part of the Proof of Stake algorithm used in blockchain networks. The main task of the validator is to validate new blocks and thus earn its own reward. This concept of validation is aligned with the decentralized nature of blockchain technology and is waiting for more people to join the validator community.

What is validator? The role of digital currency validator in blockchain

Each blockchain network consists of multiple blocks that are maintained by nodes or nodes. The main responsibility of these nodes is to maintain information and data. But before the data can be definitively recorded in the network, they need to be verified. The validator plays an important role at this stage. He is responsible for verifying new blocks so that he can earn a certain reward as one of the participants in the network.

How to become a digital currency validator?

In public blockchain networks, anyone can participate as a validator. But entering private blockchains requires permission. The common way to provide validation in blockchains is to use the PoS algorithm, where validation is done randomly and people cannot predict their turn. Validators chosen as block verifiers or producers show their determination and commitment by investing or participating in their staking coins.

To become a professional blockchain validator, you must first make a nomination transaction and provide the following information:

1. Validator Pubkey, which is used for validation.
2. Validator name and description (optional)
3. Determine the initial commission rate for adding each new block.
4. Determining the maximum commission received.
5. Determining the commission change rate (maximum daily amount).
6. Determining the minimum amount of self-association.
7. Determining the initial autocorrelation value.

What are the validity criteria of a digital currency validator?

After the voting process, the selected validator is introduced to propose a new network block. Selected validators are called bidders, and the amount of their shares or digital capital determines the chance of being selected as bidders.

The main responsibilities of validators include the following:

Running the correct version of the software continuously and keeping the private keys in a safe place.

Voting on proposals and participating in system administration.

If a validator does not consider honesty in his decisions or is not active, he will be penalized. This punishment can include slashing, loss of validating power, loss of credibility and reputation, loss of voting rights and even permanent blocking.

Validation, staking and high earning

Validation and staking are very important as a way to earn high income and secure blockchain networks. This concept allows you to make a significant profit by investing in staking as a validator and contribute to the security and stability of the network.