Validators

The block validation procedure is one of the essential elements that makes blockchain functioning possible. A network node known as a blockchain validator assists in processing and validating transaction blocks on the platform so that they may be added to the blockchain's permanent ledger. On PoS blockchains, these nodes are referred to as validators, whereas, on PoW blockchain networks, these are known as miners. In essence, validator nodes take on the responsibility of validating, voting on, and keeping a record of transactions by taking part in the consensus process.

Block validation, however, is a procedure that both of these blockchain variants may use. Staking, the method of block validation utilized on PoS blockchains, would be a more appropriate alternative to mine when referring to blockchain networks.

The process starts with an user sending the transaction on the blockchain, which is then queued on the network for further confirmation. The block is then verified by validator nodes by batching individual transactions into it. The amount of transactions that can be included in a block is governed differently by each blockchain. The block is then processed by validators which add it to the blockchain as a permanent record. On some blockchains, validators have the option to select which transactions to group into a block. This choice is made depending on the validator's preferences, usually based on the transaction costs involved, and is not necessarily made in chronological sequence.

The sender of cryptocurrency assets tacks on the fees to every blockchain transaction as a reward for validators. Senders have the option to set their own rates and even transmit transactions completely free of charge.

Transactions with extremely little or no fees, however, are more likely to be disregarded by validators and, as a result, can hang around in the unconfirmed state for a very long time. The transaction is often removed from the network if it is not put to a block for validation after a period.