Author: CryptoPress

A validator is an entity that checks and approves transactions submitted by users and/or blockchain clients in the context of blockchain technology.  Each blockchain protocol has its own set of rules for what makes a validator and how these validators work. To execute on-chain transactions in a permissionless and distributed way, most decentralized blockchain networks use some type of validator node.

Utility tokens are tokens that are expressly intended to assist people in using something. The usage of utility tokens is restricted to the ecosystem for which the utility token was created. Uber, for example, may one day issue its own utility token that users may use to pay for trips on the Uber network. Utility tokens aren’t meant to be used as investments. Filecoin is a utility token created to assist consumers to utilize the...