Validators are entities that play a critical role in maintaining the integrity of a blockchain network. They are responsible for verifying and validating transactions on the network, and they help to ensure that the network is secure and free from fraud.
In a proof-of-work (PoW) blockchain, such as Bitcoin, validators are called miners. They use their computing power to solve complex mathematical problems and create new blocks, thus earning rewards for their efforts. In a proof-of-stake (PoS) blockchain, validators are called stakers. They put up a stake or deposit of the native cryptocurrency as collateral and are chosen randomly to validate transactions and create new blocks, also earning rewards for their efforts.
Validators play a crucial role in maintaining the consensus of the network and preventing double spending. They also play a role in reaching consensus on the state of the blockchain, typically through a voting or similar mechanism.
In a public blockchain, anyone can become a validator by participating in the consensus mechanism. In a private blockchain, validators are typically chosen by the network administrator or the organization running the network.
