Validator
By CoinGecko | Updated on Mar 03, 2020
In contrast to mining on a Proof of Work blockchain network, Proof of Stake blockchain networks are secured by a distributed consensus of dedicated validators who have staked (locked into the network) a significant amount of token as long as the validator nodes are running. Validators are queued for block-signing based on a cambination of random selection, amount (weight) staked and length of time staked (age) and others depending on the design of the consensus algorithm.
Related Terms
Burned Tokens
Tokens which have been sent to addresses whose private key are not known, effectively becoming unusable.
Node
Within the blockchain network, the nodes are computers that connect to the network and have an updated copy of the blockchain
Distributed Ledger
Ledgers whose data is stored and synced across a network of nodes.
Ethereum Name Service (ENS)
Ethereum Name Service (ENS) is a look-up service that allows Ethereum users to find websites or send and receive funds via simple names.
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