BlockchainAs a distributed ledger technology (DLT), a blockchain is a digital ledger that can create an immutable record of transactions.... validators are responsible for verifying transactions on a blockchain. Once verified, validators add the verified transactions to the distributed ledgerA ledger is a database that stores recorded data; a distributed ledger synchronizes that data across a network of nodes..... In proof of work (PoW)Proof of work (PoW) is a type of algorithm that rewards the first user (miner) that succeeds in solving a... systems like BitcoinBitcoin is a cryptocurrency. It operates without the need for a central authority like a central bank or a company,..., validators (known as miners) verify transactions and receive rewards for solving complex computational math problems. In proof of stake (PoS)Proof of Stake (PoS) systems randomly select block validators from all nodes in the blockchain network. Block validators must lock... systems, validators receive rewards for staking the network’s tokenTokens are created and distributed on a blockchain and can represent a variety of assets or utilities, including commodities, loyalty... and correctly participating in the network. Staking helps secure the network by locking value in the network. Validators stake their tokens in exchangeAn exchange is a marketplace where traders can buy and sell cryptocurrencies and other digital assets. The "exchange" acts as... for participation in consensusConsensus allows a distributed system such as a blockchain to function as a decentralized peer-to-peer system without the need to... decisions.
