Blockchain file identification is the process of verifying transactions within a chain of blocks. This is done by nodes called blockchain validators, which bundle individual transactions into a block and process them so they can be permanently recorded on the blockchain ledger.
Contrary to popular belief, block validation is applicable to both Proof of Stake (PoS) and Proof of Work (PoW) blockchain platforms. In PoS blockchains, block validation is referred to as staking instead of mining. Validators are typically made up of miners and mining pools running full nodes.
When a user initiates a transaction on the blockchain, it is queued on the network for later validation. The validating nodes then bundle the individual transactions into a block and verify it according to the blockchain’s specific rules related to the number of transactions per block. Once the block is complete, validators process it to add it to the blockchain as a permanent record.
FAQ
What is blockchain file identification?
Blockchain file identification is the process of verifying transactions within a chain of blocks.
What are blockchain validators?
Blockchain validators are nodes responsible for verifying transactions within a chain of blocks.
What is the difference between mining and staking?
In PoW blockchains, the term mining is used. In PoS blockchains, the term staking is used. However, block validation is a process equally applicable to both varieties of blockchain.
How do validators add a block to the blockchain?
Validators process a block once it is complete and add it to the blockchain as a permanent record.
In summary, blockchain file identification is the process of verifying transactions within a chain of blocks. Validators bundle individual transactions into a block and verify it according to the blockchain’s specific rules. Once the block is complete and verified, validators process it to add it to the blockchain as a permanent record.
