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
BUIDL
An advice for investors to contribute new projects on blockchain rather than holding cryptocurrencies and waiting for the price to increase
Hybrid PoW/PoS
It is the allowance for both Proof-of-Stake and Proof-of-Work distribution consensus to work on the same network.
UTC Time
"Universal Time Coordinated", can be used interchangably with Greenwich Mean Time (GMT).
Mining Pool
Combination of resources of several miners to obtain a higher mining power and thus achieve greater rewards for the opening of blocks.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.