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
ERC-1155
ERC-1155 token standard allows each token ID to represent both non-fungible (NFTs) and fungible tokens which may have their metadata, token supply and other attributes.
Hot Wallet
It is a tool that store your cryptocurrencies and always connected to internet
Side Chain
A separate blockchain ledger that runs parallel with the primary blockchain.
Mining
It is the process of the miners verify and adding transaction recors into a block.
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