Validator
What is a validator?
Last updated
What is a validator?
Last updated
A validator on the LikeCoin chain functions as both a bank and a senator within the LikeCoin DAO.
They operate a set of servers 24/7 to validate all transactions made by Likers, including token transfers, content publishing, and voting.
In order to achieve consensus within a community, some trusted parties need to record all transactions. In the traditional world, this is done by banks, which charge various fees. However, in Liker Land, peer-to-peer transactions generally take only 5 seconds and incur extremely low costs.
Liker endorsement is reflected through delegation. When a Liker delegates their LikeCoin to a validator, they are trusting the validator's technical ability, knowledge, and integrity, and allowing the validator to represent them
An active validator is one that performs its duty of validating transactions and has the most delegated LikeCoin within the active validator numbers as governed by the constitution.
An inactive validator is a validator that does not perform its duty or has been "jailed," or a validator that does not have sufficient LikeCoin delegation and is outnumbered by the active validators as governed by the constitution.
