What Is Validator?
An important member on a blockchain that utilizes a proof-of-state (PoS) consensus mechanism is responsible for authenticating blocks to receive awards. Blockchain technology’s decentralized nature turns it into a remarkable space, thus pledging that several additional people become part of it. Each of the blockchains has constructing blocks known as nodes. The respective blocks are to hold the data; however, the data must be initially authenticated or validated on that blockchain network. That is the point where a validator plays the role. The number of validators required differs from one blockchain to the other. Apart from this, the validation process is also different in different blockchains.
What Is a Validator Node?
A validator node is a different type of full node that participates in consensus to become responsible for verifying, voting, and maintaining records of transactions.
How Does Blockchain Verify Transactions
For a transaction to be verified on the blockchain, the transaction must have been requested and authenticated. After that, a block representing that transaction is created, and then the block is sent to every participant (node) of the network. The Nodes or blockchain validator validates the transactions and receives a reward for proof of work. The block is then added to the existing blockchain. After that, the update gets distributed across the network, and the transaction gets completed.
Types of Validation Protocols
The two frequently used validation protocols in a blockchain network consider Proof-of-Stake and Proof-of-Work. In Proof-of-Stake, a validator decides whether a transaction moves in line with the rules according to which it becomes valid. Like centralized agents who must authenticate all transactions before processing, a validator is programmed to verify all transactions before adding them to a block. A transfer can just be accomplished, and the record thereof can be incorporated into the blockchain after a validator verifies its legal authenticity and accuracy. With the help of this whole procedure, the transparency and security of a blockchain are ensured.
Difference Between PoS and PoW
A few blockchains operate on a consensus model that uses Proof-of-Work, whereas the others depend on the Proof-of-Stake mechanism. In blockchains utilizing the PoW system, miners must solve complicated mathematical problems while the rest of the nodes cross-examine the respective information for rewards. In this technique, there is a requirement for miners to operate as validators. Who solves the puzzles before the others are permitted to incorporate the block thereof and obtain rewards.
Nonetheless, one thing in this method is troublesome, which deals with dependence on the specialized and latest hardware. This is because the process of mining cannot be done without the needed computational power production. That also becomes a reason at the back for the consumption of a considerable energy amount.
The increasingly high energy requirement for rigs and the necessity for miners to use the latest, often on-demand and costly gear make scaling in proof-of-work systems incredibly hard.
On the other side, in Proof-of-Stake, there is no requirement for hardware with some particular specialties, and it does not consume that much energy. The same method concentrates on the currency potential by controlling the contribution in line with the coin supply. The protocol picks the validators arbitrarily according to the staked tokens. In this mechanism, the validators acquire transfer or network charges as their rewards. In general, the above-mentioned validation protocols have a common target. Nevertheless, Proof-of-Stake counts to be secure and additionally effective as compared with Proof-of-Work.
Punishment for Wrong Validation
Contrary to the rewards, the blockchains also penalize node operators who (out of carelessness or some deliberate attempt) validate invalid data. Usually, such members are prohibited from accessing the system for a short time or even permanently. This is one factor through which the ledger ensures the shield against illicit use.