Understanding the Role of Validator Nodes in Blockchain Networks
Validator nodes are one of the main elements securing blockchain integrity, security, and decentralization. Several transactions are all put together in blocks and then added to a chain duplicated on various nodes, actually just computers, in a blockchain. Therefore, validator nodes validate transactions before they are eventually added to the blockchain.
In proof-of-stake and proof-of-stake consensus mechanisms, validator nodes replace proof-of-work systems’ energy-intensive mining. Validators are chosen proportional to the amount of cryptocurrency they “stake,” or lock up, as collateral. Once selected, a validator node checks a set of transactions for accuracy, ensuring they follow the network’s rules. Provided that the block is valid, the validator then adds it to the blockchain and is rewarded with either transaction fees or newly minted coins.
Validator nodes have a very significant role in securing the blockchain to ensure fraudulent activities pertaining to double-spending or any other element are constrained and there is agreement on the state of the blockchain amongst all participants. With evolving blockchain technology, validator nodes will become one of the foundational elements backing the scalability and sustainability of decentralized networks.
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