Thread by @laishawadhwa

Gm gm folks 🫡

Its day 22 of #web3glossary 🚀🚀

V: Validators

Validators of blockchain technology aren't only its sower but its rewards reaper too. Let's get to the depth of it🧐

But first, here's some humor to start with
👇👇

What are crypto validators and how do they work?
Crypto validators = Payment processors of the decentralized networks.
Technically, a crypto validator is a participant in a blockchain responsible for verifying txns.
After verifying the legitimacy of the txn, the validator adds..

..it to the distributed ledger.

Seems like the job of a blockchain validator is not that difficult!
You receive some data, check its accuracy, and validate it or not.
However, on a distributed ledger, it's easier said than done👀👀

The role of a validator may change depending on the consensus mechanism that each blockchain uses.
What differs across consensus mechanism?
Let’s find out🧐

Miners in PoW = Validators in PoS

PoW blockchains require validators to prove they worked on checking data before adding new txns to the chain. It ensures the integrity of new data as it requires members of the network to expend effort in solving an arbitrary mathematical puzzle to prevent anybody from gaming..

..the system. And hence validators are called Miners
The first miner to successfully validate a new block of data receives a block reward. As of today, that reward is worth 6.25 BTC.🤑

In PoS, users have to stake a specific amount of the ledger’s native token(ETH in case of Ethereum) to become validators. Also, the system selects the staker via lottery, depending on each validator’s % of total staked funds.

An example would help
👇👇

Ethereum 2.0 validators stake 32 ETH (ether) to participate, and in order to increase their chances of winning the reward, they can set up multiple nodes, each with a stake of 32 ETH

But, but
What about chains which don’t use these consensus algos?🤔
They too have validators!

For eg.
@Stellar operates on Byzantine Fault Tolerance consensus mechanism.
A decentralized ledger that uses this mechanism can have some nodes providing inaccurate data for validation. These nodes may be corrupt and intentionally misuse the network.
HOWEVER 👀

As long as the majority of the validator nodes are honest, the validation process has an accuracy guarantee. As a result, it adds more data to the chain despite the malicious actions of some of its nodes.

It’s important to note, data can receive validation as long as..

these spurious messages exceed "one-third" of the total. Otherwise, the transaction would become invalid.

Let's summarise, shall we?👇👇

📌Miners in Pow, dont stake anything, use high-performance computers to solve mathematical puzzles quickly and efficiently.

📌Miners in PoS, stake crypto assets to become validators. No need for expensive, eco-damaging computers, they can simply buy digital coins.

Want to become a validator?
Checkout this blog: consensys.net/blog/developer…

Validator’s role has come a long way from the initial Bitcoin miner and up to the present-day Solana validator.
Blockchain has been both a source of passive and active income and being a validator on a decentralized ledger combines the both 💯

That's a wrap for Day 22!
I’ll be sharing information on the new vocabulary of the web for next 30 days.

It’s like a free crash course on the terms and methodologies in Web3.

📌Follow me @laishawadhwa for more such web3 gyaan!

📌RT the first tweet to share with more folks