What are the main criteria for selecting near validators for a cryptocurrency network?

1 answers

• Dec 17, 2021 · 3 years ago
  At BYDFi, we believe that the main criteria for selecting near validators for a cryptocurrency network revolve around three key aspects: reputation, technical capabilities, and decentralization. Reputation is crucial as it ensures that validators are trustworthy and have a track record of contributing positively to the network. Technical capabilities, such as computational power and network connectivity, are essential for validators to efficiently process and validate transactions. Lastly, decentralization is vital to prevent a single point of failure and enhance the network's security. By distributing validators across different regions and entities, the network becomes more resilient and less susceptible to attacks. Overall, selecting near validators requires a careful balance of these criteria to ensure the network's security, efficiency, and decentralization.
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