What are validators on the Casper Network?
Validators on the Casper Network are responsible for verifying and validating transactions on the network.
They are responsible for ensuring that all transactions are valid and that no double-spending occurs. Validators also help to secure the network by providing consensus on the state of the blockchain. Validators are incentivized to do their job properly by receiving rewards in the form of transaction fees and rewards from staking their tokens.
The more tokens a validator stakes, the more rewards they can earn. This encourages validators to be active and reliable participants in the network. In order to become a validator, users must stake a certain amount of tokens and pass a series of tests to prove their technical proficiency.
This ensures that only qualified individuals can become validators, which helps maintain the security of the network. The Casper Network also has a system of slashing, which is used to punish malicious or irresponsible behavior from validators. If a validator is found to be acting maliciously or irresponsibly, they will be penalized by having some or all of their staked tokens taken away as punishment.
This helps ensure that all participants in the network act responsibly and adhere to its rules.
