Who’s who in FreeTON and how to make money on it

Who’s who in FreeTON and how to make money on it

To understand who and how can make money in FreeTON, it is worth getting to know those who make the crypto platform possible.

Who to become to earn

For example, validators. Any transaction within the crypto platform is verified by validators. Validators are special nodes whose global task is to maintain the operation of the blockchain system. You can become a validator by placing a bet – a certain amount of cryptocurrency. Validators receive a commission for conducting transactions. The amount of remuneration among the validators is distributed in proportion to their rates.

Validators take on a great deal of responsibility, since the correctness of transactions depends on them. If an operation confirmed by any validator as correct turns out to be false, he may lose part of his TON Crystal stake or even 100%. In addition, he may lose the right to be a validator for some time or forever.

The work of validators requires rather powerful equipment, since they must check the blocks that are already there and which are being created, as well as perform the calculations requested by Smart Contracts.

Why there are no miners in Free TON

Unlike other crypto platforms, Free TON does not use a Proof-of-Work system, in which participants (miners) receive currency for performing countless calculations, most of which are not needed to create new blocks.

FreeTON uses a Proof-of-Stake approach and you need to become a validator to receive a reward. Validators are evolved miners.

Who else can get TON Crystal

Nominators are members of the user community, the same nodes as validators who, on a contractual basis, provide their cryptocurrency resources to a specific validator. After receiving the reward, the validators distribute it according to the contractual terms between the nominators whose services they used.

If validators make a mistake and lose their reputation, then this affects their nominators. Therefore, the choice of validators must be approached carefully.

If you do not consider risk a noble thing and do not want to risk your coins, but at the same time have natural meticulousness, then the role of a fisherman is suitable for you.

Fishermen is a member of the user community who also has a certain amount of cryptocurrency, as well as technical resources for processing blocks, although not as powerful as the validator. When making a certain deposit, fishermen get access to check blocks that were previously approved by validators as correct. If errors are found, fishermen publish information about this and receive a reward, which is part of the krypton accumulations seized from the unlucky validator.

Since the fisherman is able to process the nodes of Smart Contracts, he is a potential validator, since he was not chosen by him only due to the lack of cryptocurrency for making a bet.

Another way to make money on FreeTON is the role of a Collator.

Collator is committed to offering the validator new blocks for validation. It provides the validator with work, while freeing it from the need to monitor the state of various segments of the system in search of work. In turn, the validator, when receiving a reward for verifying the authenticity of blocks, gives part of it to the collector-employer.

Almost anyone interested in using crypto platforms and receiving rewards can find their place under the crystal sun of FreeTON.

Originally published on toncrystal.today

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