The Nominated-Proof-of-Stake (NPoS) design in Creditcoin brings significant improvements to decentralization. This design involves two types of staking participants:
Validators :
Validators play a crucial role in the NPoS consensus mechanism. They are responsible for running nodes that secure the network and validate transactions. Validators possess technical expertise and contribute to the robustness and security of the Creditcoin blockchain. As validators actively participate in block production and verification, they are eligible for more rewards in recognition of their efforts and resource allocation.
Nominators :
Nominators are participants in the NPoS system who have the power to vote for validators. They play an essential role in the decentralization of the network. Nominators select the validators they trust and believe will act in the best interest of the network. By nominating validators, they contribute to the overall security and governance of Creditcoin. Nominators have a more accessible role compared to validators and can actively participate in the network without extensive technical knowledge. However, the rewards for nominators are relatively lower compared to validators.
Through the NPoS design, Creditcoin ensures a decentralized and secure network by allowing validators and nominators to contribute in their respective capacities. Validators provide technical expertise and receive higher rewards, while nominators actively participate in the network by voting for validators, albeit with comparatively lower rewards. This combination promotes a healthy and inclusive staking ecosystem within the Creditcoin blockchain.
By embracing NPoS, Creditcoin creates a robust and decentralized network, where both validators and nominators play essential roles in maintaining the integrity and security of the platform.
The Nominated-Proof-of-Stake (NPoS) design in Creditcoin brings significant improvements to decentralization. This design involves two types of staking participants:
Validators :
Validators play a crucial role in the NPoS consensus mechanism. They are responsible for running nodes that secure the network and validate transactions. Validators possess technical expertise and contribute to the robustness and security of the Creditcoin blockchain. As validators actively participate in block production and verification, they are eligible for more rewards in recognition of their efforts and resource allocation.
Nominators :
Nominators are participants in the NPoS system who have the power to vote for validators. They play an essential role in the decentralization of the network. Nominators select the validators they trust and believe will act in the best interest of the network. By nominating validators, they contribute to the overall security and governance of Creditcoin. Nominators have a more accessible role compared to validators and can actively participate in the network without extensive technical knowledge. However, the rewards for nominators are relatively lower compared to validators.
Through the NPoS design, Creditcoin ensures a decentralized and secure network by allowing validators and nominators to contribute in their respective capacities. Validators provide technical expertise and receive higher rewards, while nominators actively participate in the network by voting for validators, albeit with comparatively lower rewards. This combination promotes a healthy and inclusive staking ecosystem within the Creditcoin blockchain.
By embracing NPoS, Creditcoin creates a robust and decentralized network, where both validators and nominators play essential roles in maintaining the integrity and security of the platform.
Nice write-up here too. Same thing, please share on your socials. Most of the members of the Creditcoin forum already know about Creditcoin, but if you put it on your socials, we can gain more awareness and bring greater decentralization to our blockchain. Thanks!
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