Validators
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Each transaction processed on the network requires thorough validation to ensure compliance with established rules and protocols. Validators are responsible for verifying these transactions, ensuring that all operations are accurately checked, recorded, and aligned with the network’s governing principles.
Validators use the native token, $NGL, to participate in securing the network. Validators stake $NGL to gain voting power, with greater stakes or delegated tokens enhancing their influence over the network's security and consensus. This staking mechanism ensures that validators have a vested interest in maintaining the network's security.
Validators actively monitor the network for signs of malicious activity. Their vigilance is crucial in preventing attacks, double-spending, or other behaviors that could compromise the blockchain's security.
Validators are incentivized through rewards, which come from gas fees generated by the transactions they validate. This reward mechanism is designed to acknowledge and compensate validators for their crucial contributions and encouraging active participation.
Validators are held accountable through a robust slashing mechanism that discourages malicious behavior and ensures network security
If a validator signs two conflicting blocks, a percentage of their tokens are slashed.
Validators that sign fewer than 50 of the last 100 blocks will have a portion of their staked tokens slashed and be temporarily "jailed" for a set period.
