The role of validators in consensus mechanisms and the scalability of blockchain
In the cryptocurrency world, validators play a crucial role in maintaining the integrity and security of blockchain networks. These individuals are responsible for ensuring that transactions on a network are verified and added to the big book, which is the public file of all transactions.
Consensus mechanisms: the heart of the network
A consensus mechanism is a process by which the nodes of a network agree on the state of the blockchain, ensuring that all nodes have the same version of the blockchain. There are several types of consensus mechanisms used in cryptocurrency networks, including work proof (POW), proof of participation (POS) and proof of delegated participation (DPO).
Proof of work (POW) Consensus mechanisms
In POW consensus mechanisms, nodes are competing to solve complex mathematical problems, using calculation power to validate transactions. This process is with high energy intensity and requires significant IT resources.
For example, Bitcoin uses a POW consensus mechanism, where minors use powerful computers to solve the complex mathematical problem of hash and validation transactions. To add a new blockchain block, a minor must solve this puzzle, and if they succeed, his computer is rewarded with newly created bitcoins.
Proof of stake (POS) Consensus mechanisms
In the POS consensus mechanisms, validators are chosen to create new blocks according to their participation in the network. Validators can be all those who have a certain amount of parts stored in their portfolio and agree to participate in the validation process.
The more coins of a validator there are, the more their chances of being selected are selected as a validator for a block. This approach is less with high energy intensity than POW because it does not require nodes to solve complex mathematical problems. Instead, validators can simply contain a certain amount of parts and let the other nodes vote on those who must be chosen.
Consensus mechanisms for proof of proof of stake (DPOs)
In the consensus mechanisms of the DPOS, the community votes for the next validator thanks to a decentralized voting system. The validators are chosen according to their reputation and the number of votes they receive from the community.
For example, in EOS, validators are elected via a system based on tokens where tokens are used to vote for the next validator. The most popular candidate is selected as a new validator, and they are rewarded by tokens according to the number of votes they have received.
Blockchain scalability: challenges and solutions
While the demand for cryptocurrency services continues to grow, the scalability of blockchain becomes an increasingly important problem. Current consensus mechanisms can be slow and with high energy intensity, which makes it difficult to treat a large number of transactions per second.
To meet this challenge, many blockchain projects explore new consensus mechanisms which are more efficient and scalable, such as:
- Sharding : Decompose the blockchain into smaller pieces, called bursts, which can operate independently of each other.
- Ouroboros : A new consensus protocol which uses a combination of proof of participation and proof of work to reach a high election.
- Lightning Network of ZCASH : a decentralized system based on the public key for rapid and secure transactions.
Conclusion
In conclusion, validators play an essential role in maintaining the integrity and security of blockchain networks. By understanding the different types of consensus mechanisms used in cryptocurrency networks, we can appreciate the challenges and solutions that are explored to achieve high scalability and efficiency. While the demand for cryptocurrency services continues to grow, it will be essential to continue innovating and experimenting with new consensus mechanisms that can respond to these requests.