Validators
Welcome to another episode of “Explain it like I’m 5”!
This week we’ll be taking a closer look at the role of Validators in a blockchain network. If you’re looking to better understand who they are and what they do, take a seat and let’s dive right in.
Let’s think of blockchain as one big digital library. One that instead of existing in only one physical place at once, like most libraries do, it’s distributed all over the world and can be accessed by anyone with an internet connection.
Just as regular libraries are run by librarians, who keep track of every book that comes and goes, blockchain too is being run by a group of librarians called validators.
Their role starts with, first of all, running the library’s computer program on their computers, making sure it is accessible online. Because there are more librarians distributed all across the world, the library is not dependent on any single one of them, making it decentralized.
Aside from helping run the actual blockchain network (or library in our example), validators are also in charge of verifying every transaction that happens on the network. To take our library example one step further, they make sure every book that comes and goes is the correct one, users don’t lie about which books they borrow or return, how many they borrow or return, the order of their actions, etc.
So, why would someone want to become a validator? Because it is perhaps the best way for? someone to support a network they like. For playing an instrumental role in running the network and verifying transactions, validators are rewarded for their work with tokens, making their contributions pay off in more than one way.
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Anyone can become a validator as long as they have a computer that can run the network program and have a specific number of tokens locked - requirements differ from one network to another, some require more powerful computers than others, others more tokens locked, making each network/library different in its own way.
So, who are the validators? In short, they’re the real MVPs. They run the network, make it accessible worldwide, make it decentralized, and they make sure everyone follows the rules.
They may or may not be among the first things you learn about when dealing with blockchain, but they are key in the network's existence.
And now you know! Next time you interact with a blockchain, think about the heroes behind the scenes who made it all possible.
Disclaimer: With the purpose of keeping things as easy to understand as possible, some aspects may have been overlooked or oversimplified.