Roles on WorkQuest: Validators

A user can have one of three roles within the WorkQuest blockchain system: a validator, a delegator, and a user. First, let’s have a closer look at the Validator’s role.

Validator is a member of the Work network who keeps a blockchain replica on his equipment, provides transaction verification, chain blocks formation, and participates in the consensus-building process. One of the main characteristics of the Validator is voting power, which is directly proportional to the size of the Validator’s stake.

The Validator must ensure the reliability of the work network correctly perform its duties in the consensus-building procedure and guarantee access of Work network internal services to its blockchain replica, ensuring the integrity of stored data.

Functioning as a validator has a major incentive of earning rewards and runs the risk of being fined for improper performance of duties. A validator risks losing part of its stake as a result of these fines, as well as a reputational loss if users stop trusting it with their funds for delegation. Thus, reputational losses can have a very strong impact on validators. A validator stack consists of its funds and funds delegated (leased) to it by other members of the network.

#Validators #WorkQuest #Blockchain #WorkNet #Network

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WorkQuest

WorkQuest

WorkQuest is a global end-to-end jobs marketplace powered by Blockchain / DeFi 🌐 WorkQuest.co ☑️ https://t.me/WorkQuestChat 🎆 https://linktr.ee/WorkQuest