Validator
By CoinGecko | Updated on Mar 03, 2020
In contrast to mining on a Proof of Work blockchain network, Proof of Stake blockchain networks are secured by a distributed consensus of dedicated validators who have staked (locked into the network) a significant amount of token as long as the validator nodes are running. Validators are queued for block-signing based on a cambination of random selection, amount (weight) staked and length of time staked (age) and others depending on the design of the consensus algorithm.
Related Terms
Over The Counter (OTC)
It refers to the process that cryptocurrencies are being traded outside exchange and it is done directly between two parties
BitLicense
Refers to the business license issued by the New York State Department of Financial Services (NYSDFS) to companies dealing with Cryptocurrencies (subject to certain exceptions) in New York.
Cryptography
A discipline or field of study which practices using cryptography to convert human-readable information that can only be deciphered by individuals who have the knowledge to.
Halving
Event that serves to reduce in half the reward of the Proof-of-Work miners that operate in the blockchain network.
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