In the world of #cryptocurrencies , validators play a crucial role in the functioning of the network. Validators are responsible for verifying transactions on a blockchain and adding them to the ledger. Validators ensure the integrity of the network by validating transactions, ensuring that they follow the rules and protocols of the network, and preventing fraudulent transactions. In this article, we will discuss crypto validators in more detail, their types, and their usage.

Types of Crypto #Validators :

There are several types of crypto validators. The most common types of crypto validators are as follows:

Proof of Work Validators: Proof of work (PoW) validators are used in cryptocurrencies such as Bitcoin. These validators solve complex mathematical problems to validate transactions and add them to the blockchain. PoW validators require a significant amount of computational power and energy to function, which can be costly and unsustainable.

Proof of Stake Validators: Proof of stake (PoS) validators are used in cryptocurrencies such as Ethereum. These validators are selected based on the amount of cryptocurrency they hold and stake in the network. PoS validators validate transactions and add them to the blockchain, and in return, they receive rewards in the form of cryptocurrency.

Delegated Proof of #Stake Validators: Delegated proof of stake (DPoS) validators are used in cryptocurrencies such as EOS. These validators are elected by token holders to validate transactions and add them to the blockchain. DPoS validators are rewarded with cryptocurrency for their services, and they can be voted out of their position if they do not perform their duties properly.

Byzantine Fault Tolerant Validators: Byzantine fault tolerant (BFT) validators are used in cryptocurrencies such as Ripple. These validators work together to reach a consensus on transactions and prevent fraudulent transactions from being added to the blockchain. BFT validators are designed to function even if some validators in the network fail or behave maliciously.

Usage of Crypto Validators:

Crypto validators are used in several ways. The most common usage of crypto validators is as follows:

Transaction Validation: Crypto validators are responsible for validating transactions on a blockchain. Validators ensure that transactions follow the rules and protocols of the network and prevent fraudulent transactions from being added to the blockchain.

Consensus Building: #Crypto validators are used to build consensus on transactions and prevent forks in the blockchain. Validators work together to reach a consensus on transactions and ensure that the blockchain remains intact and functional.

Network Security: Crypto validators play a crucial role in the security of a blockchain network. Validators prevent fraudulent transactions from being added to the blockchain, ensuring the integrity and security of the network.

Conclusion:

Crypto validators play a crucial role in the functioning of a #blockchain network. Validators ensure the integrity of the network, validate transactions, and prevent fraudulent #transactions from being added to the blockchain. There are several types of crypto validators, including PoW validators, PoS validators, DPoS validators, and BFT validators. Each type of validator has its advantages and disadvantages, and the selection of the validator type depends on the requirements of the network.

Liquid Proof of Stake (LPoS) is a consensus mechanism used by #blockchain networks to validate transactions and secure the network. LPoS is a variation of Proof of Stake (#PoS ), which is a popular alternative to the energy-intensive Proof of Work (PoW) consensus mechanism.

What is LPoS?

LPoS is a consensus mechanism that uses a group of trusted validators, also known as "witnesses," to validate #transactions and create new blocks in the blockchain. Unlike PoW, which requires miners to solve complex mathematical problems to validate transactions, LPoS uses a more energy-efficient approach that relies on stakeholder participation.

In LPoS, stakeholders hold a certain amount of the network's native cryptocurrency, which they use to participate in the consensus process. Validators are selected from this pool of stakeholders based on their stake size and reputation.

Benefits of LPoS:

Energy Efficiency: LPoS is much more energy-efficient than PoW, as it does not require miners to compete to solve complex mathematical problems. This makes it more sustainable and environmentally friendly.

Decentralization: LPoS is a decentralized system, which means that there is no central point of control. This makes it more resilient to attacks and more resistant to censorship.

Security: LPoS is a secure consensus mechanism that relies on the trustworthiness of the validators. Validators have a strong incentive to act honestly, as their reputation and stake in the network are at risk.

How does LPoS work?

LPoS works by selecting a group of trusted validators to validate transactions and create new blocks in the #blockchain . The selection process is based on the size of the validator's stake and their reputation within the network.

Once selected, the validators work together to validate transactions and create new blocks in the blockchain. Each validator has a chance to create a new block, based on their stake size, and is rewarded with a certain amount of the network's native cryptocurrency.

Validators are also subject to penalties if they act dishonestly or fail to perform their duties. This ensures that the network remains secure and trustworthy.

Conclusion:

LPoS is a promising consensus mechanism that offers many benefits over traditional PoW systems. Its energy efficiency, decentralization, and security make it an attractive alternative for blockchain networks looking to scale sustainably and securely.

As more blockchain networks adopt LPoS, we can expect to see increased adoption and innovation in the blockchain space. The future of blockchain is bright, and LPoS is leading the charge towards a more sustainable and secure decentralized future.

In the world of cryptocurrencies, nodes are a critical component of the network infrastructure. Nodes are computers or devices that run the software required to maintain the blockchain network. This article will explore the concept of crypto nodes in detail, covering everything from their definition to their significance in the cryptocurrency ecosystem.

What are Crypto #Nodes?

A node is a computer or device that runs the software required to maintain the blockchain network. Nodes are responsible for validating #transactions and blocks, and they help to ensure that the network operates smoothly and securely.

Types of Nodes

There are several different types of nodes, including full nodes, light nodes, and mining nodes.

Full Nodes

A full node is a computer or device that runs the complete software required to maintain the blockchain network. Full nodes store a complete copy of the blockchain, which allows them to validate transactions and blocks independently. Full nodes are critical to the security and integrity of the network, as they help to ensure that all transactions are valid and properly recorded.

Light Nodes

A light node, also known as a thin node, is a computer or device that runs a simplified version of the software required to maintain the blockchain network. Light nodes do not store a complete copy of the blockchain but instead rely on full nodes to validate transactions and blocks. Light nodes are faster and require less storage space than full nodes but are less secure and reliable.

Mining Nodes

A mining #node is a computer or device that is used to mine new cryptocurrency tokens. Mining nodes are typically full nodes that are used to validate transactions and blocks and to compete in the mining process. Mining nodes require significant computational power and energy resources and are used to solve complex mathematical problems that validate transactions and create new blocks on the blockchain.

The Significance of Crypto Nodes

#Crypto nodes are a critical component of the cryptocurrency ecosystem, as they help to ensure the security and integrity of the network. Nodes help to validate transactions and blocks, ensuring that all transactions are properly recorded and that the network operates smoothly and securely. Nodes also play a critical role in maintaining the decentralized nature of the blockchain, as they help to prevent any single entity from controlling the network.

The Risks and Benefits of Running a Node

Running a node comes with both risks and benefits. Some of the benefits of running a node include:

Increased Security: Running a node helps to ensure the security and integrity of the network, as nodes help to validate transactions and blocks.

Control: Running a node gives users greater control over the network, as they can help to shape its direction and development.

Incentives: Some blockchain networks offer incentives, such as rewards or reduced transaction fees, to users who run nodes on the network.

Some of the risks of running a node include:

Technical Expertise: Running a node requires technical expertise, and users may need to invest significant time and resources to set up and maintain a node.

Security Risks: Running a node comes with security risks, as nodes may be targeted by hackers or other malicious actors.

Resource Requirements: Running a node requires significant computational power and energy resources, which can be expensive and may not be feasible for some users.

In conclusion, crypto nodes are a critical component of the cryptocurrency ecosystem, as they help to ensure the security and integrity of the network. Nodes come in several different types, including full nodes, light nodes, and mining nodes, and each plays a unique role in maintaining the network. While running a node comes with both risks and benefits, it is an essential concept to understand for anyone interested in cryptocurrencies.

#TrendingTopic Last year was a rollercoaster for crypto. There were aggressive regulatory actions, high-profile criminal convictions and shocking thefts.And yet – the total cryptocurrency market capitalization rose to over $1.4 trillion in 2023, a year-over-year growth of over 70.7%.New users and institutions are getting involved.Throughout 2023, the number of crypto #investors grew by 2.8% per month, and Goldman Sachs has called it the year crypto became institutionalized.The bulls and the bears are both right – there is immense opportunity in the market right now, but also alarming risk.The risk isn’t merely rooted in market volatility, though, or even the brazen criminal actions of exchange managers – it’s baked into the very mechanisms of crypto #transactions .Smart contacts themselves are a vulnerable and alluring target for hackers, and our methods for securing them are letting us down.Here’s a quick primer. A smart contract is a self-executing contract used in blockchain transactions. The terms of the transaction are written directly into the lines of the code.These contracts are a juicy hacking target – they’re used to handle large sums and high-value tokens.If you can manipulate the contract, you can direct the tokens however you want.Blockchain entities protect themselves with smart contract audits, wherein independent reviewers inspect the smart contract for design flaws, security vulnerabilities, efficiency and other coding issues.The auditors issue a public report, listing all the issues found and the steps taken to mitigate them.So far, so transparent – audits help blockchain companies ensure their smart contracts are secure and help investors make informed decisions.The process is far from foolproof, though. There are no widely adopted standards for smart contract verification, and no audit can truly guarantee that a smart contract is bug-free.As a result, lots of vulnerabilities slip through the cracks, often with devastating results.Here are a few examples from 2023 alone.LendHub – $6 million exploit – January 2023LendHub left a depreciated version of the IBSV token in its smart contract during an update. Both the old and new versions were active in the contract at the same price.Attackers were able to buy the old version and #swap for the new, making off with $6 million in additional value.BonqDAO – $120 million exploit – February 2023Attackers were able to manipulate the ‘update price’ function in BonqDAO’s smart contract, allowing them to change the price of the AllianceBlock’s ALBT token.The hackers then minted and swapped large amounts of tokens, eventually leading to the broad devaluation and liquidation of ALBT.Euler Finance – $197 million exploit – March 2023A flaw in Euler Finance’s smart contract allowed an attacker to deposit collateral and borrow against it without drawing down the initial collateral.They used this bug to execute a flash loan attack that allowed them to withdraw nearly $200 million worth of #ETH -based assets in moments.We cannot staunch this bleeding with more audits. Euler Finance’s smart contract underwent 10 different audits from six different firms and still fell victim to one of the biggest single hacks of the year.Part of the problem is that audits are backward-facing. They focus on known vulnerabilities, missing novel exploits.Hackers are devious and creative – we need security measures that can anticipate and respond to entirely new approaches.$AI may be useful in sealing up the cracks in the smart contract audit process.In experiments using OpenAI’s GPT-4, OpenZeppelin was able to use AI to identify vulnerabilities in 20 out of 28 challenges from the Ethernaut smart contract hacking game.However, real smart contracts are far more complex, and the opportunities to exploit them more varied than anything in a controlled environment like a game.And what’s more – catching 70% of vulnerabilities isn’t nearly enough.If your network security team could only stop 70% of attacks, they would all be fired.We’re going to be waiting at least another generation before AI can seriously assist in smart contract security, and we need solutions now.These additional measures can be enforced at the wallet level so that transactions are vetted before being sent out on-chain.Such measures could include addressing inspection to prevent rogue actors from executing contracts, smart contract history that traces any contract changes to their origins or front-running to stop any suspicious transactions before tokens are transferred.Many smart contact exploits rely on speed. By building more friction into transactions, we can make them safer and less attractive to bad actors.2024 kicked off with crypto in the strongest position it has occupied in years, but smart contract vulnerabilities have cast a shadow over this progress.This is an inflection point, where the promise of blockchain meets the realities of its risks.Now, our task is to get serious about security at every stage of blockchain transactions.Daniel Chong is the CEO and co-founder of Harpie, the crypto security platform. While pursuing a Mathematics degree at Duke University, Daniel worked as a development and security consultant for a variety of crypto companies, leading award-winning projects to victory at conferences including $ETH Denver. He’s dedicated to ending the threat of crypto theft and making smart contracts safe and accessible to all.Disclaimer: Opinions expressed at The @WISE CRYPTO NEWS are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The @WISE CRYPTO NEWS does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The @WISE CRYPTO NEWS an investment advisor.

#sol Shiba Inu's circulating supply could dramatically drop by 99.9%, as lead developer suggests ambitious #SHIBburn .The Shiba Inu cryptocurrency #community is abuzz with the latest statement from Shytoshi Kusama, the project’s lead developer. Kusama has raised the possibility of reducing Shiba Inu’s current circulating supply to just 0.1% of its existing volume. This announcement has sparked widespread discussion and speculation among investors and enthusiasts of the digital currency.Shiba Inu, known for its vast circulating supply currently standing at 580,925,715,095,591 (580 trillion), would see a dramatic shift if this plan were to come to fruition. Kusama’s statement came as a response to a critic’s sarcastic suggestion to burn 99.9% of $SHIB tokens, possibly using the fees generated from Shibarium #transactions . Kusama confidently retorted that such a feat, while challenging, is not beyond the realm of possibility.#ShibaInuCommunity Response and FeasibilityThe Shiba Inu community has generally reacted positively to Kusama’s bold assertion. Enthusiasts like Raul Valadez-Rayas express patience and anticipation for the potential burn of trillions of SHIB tokens. This sentiment is reflective of a broader optimism within the Shiba Inu community, where many are eager to see the currency’s value increase through significant supply reductions.However, achieving such a drastic reduction is not without its challenges. Burning 99.9% of SHIB’s supply would require strategic and large-scale token removal from circulation. While the SHIB development team has successfully conducted token burns in the past, these have been on a much smaller scale. Scaling up to the level suggested by Kusama would necessitate novel approaches, potentially leveraging transaction fees from Shibarium or other innovative methods.Economic Implications and Future ProspectsThe potential economic impact of reducing Shiba Inu’s circulating supply so significantly is a topic of considerable interest. A reduced supply could theoretically increase the scarcity of SHIB tokens, potentially driving up their value. However, market dynamics are complex, and such a move could have varying effects depending on broader market conditions and investor perceptions.🗣🗣Empower Our Mission: Tips For Dedicated Service. 🗣🗣👉Users are encouraged to support the mission by offering generous tips.🗣This empowers creators to work even harder, ensuring the continued delivery of top-notch investment advice. @WISE CRYPTO NEWS

In the world of #cryptocurrency , there are two main types of transactions: on-chain and off-chain. On-chain transactions are those that are recorded on the #blockchain , while off-chain transactions take place outside of the blockchain.

Off-chain transactions are often used for smaller, more frequent transactions, as they can be processed more quickly and cheaply than on-chain transactions. They are also often used for privacy-sensitive transactions, as they do not need to be recorded on the public blockchain.

There are a number of different ways to perform off-chain transactions. One common method is to use a payment channel. A payment channel is a two-party agreement that allows for the transfer of funds between two parties without having to record each individual transaction on the blockchain. This can significantly reduce the number of transactions that need to be recorded on the blockchain, which can improve scalability and reduce fees.

Another common method for performing off-chain transactions is to use a sidechain. A sidechain is a separate blockchain that is connected to the main blockchain. Transactions can be transferred between the main blockchain and the sidechain, but they are not recorded on the main blockchain until they are finalized. This can also improve scalability and reduce fees.

Off-chain transactions offer a number of advantages over on-chain #transactions . They are faster, cheaper, and more private. However, they also have some disadvantages. They are not as secure as on-chain transactions, and they can be more difficult to track.

Advantages of Off-Chain Transactions

Faster: Off-chain transactions can be processed more quickly than on-chain transactions, as they do not need to be recorded on the blockchain.

Cheaper: Off-chain transactions can be cheaper than on-chain transactions, as they do not require the same level of security.

More private: Off-chain transactions can be more private than on-chain transactions, as they do not need to be recorded on the public blockchain.

Disadvantages of Off-Chain Transactions

Less secure: Off-chain transactions are not as secure as on-chain transactions, as they are not recorded on the blockchain.

More difficult to track: Off-chain transactions can be more difficult to track than on-chain transactions, as they are not recorded on the public blockchain.

Conclusion

Off-chain transactions offer a number of advantages over on-chain transactions. They are faster, cheaper, and more private. However, they also have some disadvantages. They are not as secure as on-chain transactions, and they can be more difficult to track.

The use of off-chain transactions is likely to increase in the future, as they can help to improve the scalability and privacy of cryptocurrency networks. However, it is important to be aware of the security risks associated with off-chain transactions before using them.