#CariKataKripto day 05

Entering the fifth day of the crypto word search event organized by Binance Indonesia. I successfully found 3 words, namely Smartcontract, Node, and Validator. As usual, I will explain the meanings of these three words.

SMARTCONTRACT :

A smart contract in the crypto world is a digital contract that is automatically executed on the blockchain when certain conditions are met. It is like a computer program that schedules certain actions, such as transferring assets, when predefined conditions are reached. Smart contracts do not require human intervention to be processed or enforced. Once the conditions are activated, the contract automatically executes the specified commands. Smart contracts are stored and executed on the blockchain network, which guarantees the security, transparency, and permanence of transactions.

NODE :

In the context of cryptocurrency, a "node" is a computer or group of computers that play a crucial role in maintaining and supporting the blockchain network. Nodes serve as communication points, verify transactions, and ensure the entire network adheres to the established rules. Nodes are an integral part of blockchain technology, storing the latest transaction records and ensuring all participants follow the network rules.

VALIDATOR :

A crypto validator is a party responsible for verifying and confirming transactions in the blockchain network, especially in Proof-of-Stake (PoS) systems. They ensure that transactions are valid and legitimate before being added to a new block, thereby maintaining the integrity and security of the blockchain network. Validators receive rewards in the form of crypto as compensation for their services.

Let's follow #CariKataKripto to enhance knowledge in the trading world, especially Crypto, see you on the next day.