The role of Validiers in Blockchain Safety: A decisive component of cryptocurrency systems
In the world of cryptocurrencies, safety is the most priority. When billions of dollars are exchanged daily on platforms such as Bitcoin and Ethereum, hacker and harmful actors constantly try to use vulnerabilities in Blockchain networks. An important aspect that has attracted significant attention in recent years is the role of validatists in maintaining the integrity and safety of these digital currencies.
What are the validators?
Validates on the Blockchain network play an important role because they help to ensure that events are confirmed and added to the Blockchain. They act as “mining workers”, but instead of using computational energy and electricity for cryptocurrencies, they use their processing power to validate transactions in the block chain. The process offers complex mathematical problems that require significant computational resources.
How do validators protect Blockchain networks?
Validators are responsible for the verification and warranty of events that follow the rules set by the network. They do it in different ways:
- Event certification : When a new event is proposed, it passes through the validation process where the validators check whether the sender has enough funds for the event. In this case, the valider sends the event to the network.
- Creating blocks : Once verified events have been collected, they form a block and add to the block chain. The validators create a new block by solving complex mathematical problems that require significant computational force.
- Consent Mechanism : Validators participate in the consent mechanism, where they work together to ensure that all nodes in the network are suitable for the validity of events and blocks.
Benefits of Validator Security
The safety of Blockchain networks depends on the collective efforts of validators. Here are some of the benefits of Validator’s security:
1
2
- Guarantees the reliability of the network : The collective efforts of the validators ensure that the block chain remains stable and reliable.
The challenges faced by Validiers
Despite their critical role, validators face different challenges:
1
2
- Concentration of mining force : Some critics claim that centralizing mining forces in the hands of some individuals or organizations increases the offensive risk by 51 %.
The Future of Validator’s Security
Blockchain technology is still evolving, but Validans play an increasingly important role in maintaining the safety and integrity of these digital currencies. Let’s look at different solutions to address the challenges faced by validators:
- Test Mechanism (POS) : POS is a consent mechanism that rewards validators who have an encryption currency for their involvement instead of asking them to be mining.
- More energy efficiency
: Developing more efficient extraction and hardware algorithms and hardware can help reduce the carbon badge associated with cryptocurrencies.
3.