Validator

Validators are participants in Proof of Stake (PoS) and other consensus mechanisms who are responsible for verifying transactions and adding new blocks to the blockchain. In a PoS system, validators are selected to validate transactions based on the number of tokens they hold and "stake" in the network. To become a validator, users must lock up a certain amount of the network's native cryptocurrency as collateral, which is used to secure the network and incentivize honest behavior. Validators who successfully validate transactions and add blocks are rewarded with transaction fees and new tokens, while those who act dishonestly may lose their staked assets. Validators play a critical role in maintaining the security, integrity, and decentralization of the blockchain. For example, in Ethereum 2.0, validators replace miners (from the previous Proof of Work system), and they are essential to the new Proof of Stake consensus mechanism. Validators ensure that the network operates smoothly, and they are compensated for their work through staking rewards.