Validator

A validator is a participant in a proof-of-stake (PoS) or similar blockchain network responsible for verifying transactions and ensuring the security and integrity of the blockchain. Validators play a critical role in maintaining decentralized consensus by validating new blocks, proposing new blocks, and adding them to the blockchain.

To become a validator, participants typically need to stake a specific amount of the network's native cryptocurrency, which acts as collateral and aligns their interests with the network’s security.

Key Responsibilities of Validators:

1. Transaction Validation: Verify the legitimacy of transactions within the blockchain network.
2. Block Proposals: Propose new blocks for addition to the blockchain.
3. Security Enforcement: Detect and prevent fraudulent activities, such as double-spending.
4. Earning Rewards: Receive rewards in the form of transaction fees or newly minted tokens for their efforts.

Examples of Validator-Based Blockchains:

• Ethereum (ETH): Validators replaced miners after Ethereum transitioned to PoS in the Ethereum 2.0 upgrade.
• Solana (SOL): Validators process transactions in Solana’s high-speed blockchain.
• Polkadot (DOT): Validators secure the network and manage cross-chain communication.