Blockchain Validators are specialized nodes within a blockchain network that are responsible for verifying and authorizing new transactions before they are added to the public blockchain. These validators play an important role in maintaining the integrity and security of the blockchain by ensuring only valid transactions are processed.
In many blockchains such as Ethereum, Bitcoin, and other major crypto blockchains, validators are nodes selected through a specific consensus mechanism such as Proof of Work (PoW) or Proof of Stake (PoS). They are responsible for:
- Verifying each new proposed transaction for compliance with the consensus rules.
- Confirming that the sender has sufficient funds to carry out the transaction.
- Applying cryptography and specialized algorithms to cryptographically validate transactions.
- Agreeing on the correct order of transactions and inserting them into a new block.
- Adds the new valid block to the main chain of the blockchain.
Validators are incentivized or rewarded for their validation efforts, usually in the form of native crypto tokens from the blockchain. The more validators there are, the greater the level of decentralization and security of the blockchain.