-
What is a blockchain validator?
A validator is crucial in validating transactions in blockchain consensus mechanisms like proof-of-stake (PoS) and proof-of-authority (PoA). They check whether new transactions align with the network’s rules and ensure that the sender has adequate funds to complete the transaction. Validators are also responsible for ensuring the security of the blockchain by monitoring the network for any nefarious activities, such as double-spending. The term “double-spending” refers to spending the same currency units twice. Blockchains prevent it by connecting the open ledger with cryptographic algorithms. Validators get ... (full story)