Ripple Xpring cited the benefits and features of the XRP Ledger validator by posting about it on its blog. The Ripple Xpring investment department not only supports financially various important projects and provides them with a certain technical part, but also seeks to make the blockchain as a whole more accessible. This is consistent with the overall Ripple strategy, which aims to make crypto technology more popular among the world’s population. This means, among other things, a simplification of understanding regarding those. Now Ripple Xpring has named the benefits and features of the XRP Ledger validator, emphasizing its importance.
Ripple Xpring Names the Benefits and Features of the XRP Ledger Validator: Details
Ripple Xpring named the benefits and features of the XRP Ledger validator, emphasizing its importance and significance. As Ripple Xpring noted on its blog, validators are the lifeblood of XRP Ledger. Like all decentralized registers, Ripple XRP Ledger is a program that runs on a distributed set of servers. These servers run a program called Rippled. Each server can monitor the network with a local copy of the register and send transactions to the network.
A small subset of servers contributes to the negotiation process, which helps maintain network progress. These servers are called validators. Any server running Ripple can act as a validator by enabling validation. As stated on the Ripple Xpring blog, validators agree on a set of candidate transactions that should be considered for the next register in the approval process. Each validator evaluates transaction offers from a specific set of trusted validators called a unique node list (UNL). Validators that appear in the UNL “trust” and do not allow breaking the rules, do not let the server evaluate the offers to deceive.
In each round of consensus, validators add transactions to their proposals if the threshold number of trusted validators also offers these transactions. The threshold increases until most validators offer the same set of transactions. Finally, as Ripple Xpring points out, each server independently calculates a new version of the main register with a new set of transactions. Validators translate the hash of the new version of the register to all servers, and if most trusted server validators calculate the same hash, then the version of the register is considered fully verified. Ripple Xpring also indicated the immediate reason for the launch of new validators. As Ripple Xpring emphasized, those who work with validators do this because they demonstrate their interest in the long-term availability of the network. For example, individuals and entities who rely on XRP in their business operations will benefit from the continued reliability, stability, and performance of the Ripple XRP Ledger.
The validator operators present in the UNL also participate in the management of the Ripple XRP Ledger by voting on fees and amendments, which are proposed changes to the protocol. Ripple Xpring also noted the features of a good validator. Good validator features include high availability, network compliance, timeliness and identification. To achieve these properties, it is important to adhere to the recommended system specifications for production servers and properly configure objects. In addition to the administrative elements for launching the validator, it is important that the validator operators are involved in the Ripple XRP community, giving advance warning of possible technical work, and so on.
Validators who appear on the UNL have the opportunity to vote for amendments and fees, which allows them to participate in the development of the network. Therefore, it is imperative that validator operators keep abreast of the latest updates coming to Ripple XRP Ledger. Unlike other decentralized registers, Ripple XRP Ledger does not provide a direct economic incentive to contribute to the consensus process by launching a validator. Other blockchains offer direct incentives, such as rewards from mining and betting, or trading advantages. Instead, the lack of direct incentives for Ripple XRP Ledger validators attracts natural stakeholders.