What Is a Validator?
Every blockchain has building blocks that are called nodes.
Validation in Blockchain Networks
They are responsible for holding data, but it must first be validated or verified on the blockchain network.
That’s where a validator comes into play.
There are two common validation protocols of a blockchain network:
Like a banker verifying a transaction before processing, a validator verifies each incoming transaction.
A transaction can only be completed, and its record can be added to the blockchain once its accuracy and legal authenticity are checked—that’s done by a validator.
In the Proof-of-Stake mechanism, a validator determines whether or not a transaction conforms to the rules that deem it valid.
The entire process makes a blockchain network secure and transparent.
PoW vs PoS
Some blockchains work on the Proof-of-Work model for validation, and some rely on the Proof-of-Stake method.
This method requires miners to work as validators. The one who solves the puzzle first gets to add their block and receives rewards.
But what is wrong with PoW? Mining isn’t the best solution due to its requirements, as it requires specialized hardware to produce the required computational power—and consumes a lot of energy.
On the other hand, proof-of-Stake doesn’t require specialized hardware or energy.
The protocol selects the validators randomly by the staked coins.
Validators in such a mechanism receive transaction or network fees as rewards.
In principle, both validation protocols share a common goal. However, Proof-of-Stake is considered to be safer and more efficient than Proof-of-Work.