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Summary
- Validity technology suite has 2 main components: Validity blockchain and Validity Smartchain.
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Validity blockchain:
- Decentralized network
- Uses proof of stake (PoS) consensus algorithm
- People can stake VAL coins in Validity wallet and receive VAL coins as a reward
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Validity Smartchain:
- Second layer built on top of Validity blockchain
- Helps with scaling and provides advanced utilities
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VAL is used to pay for utilities, including:
- Decentralized Identities (DID)
About Validity: Empowering Trust in the Digital Realm
The Validity technology suite comprises two primary components: the Validity blockchain and the Validity Smartchain, forming a robust and interconnected ecosystem.
The Validity blockchain operates as a decentralized network, leveraging a proof of stake (PoS) consensus algorithm to facilitate a secure and efficient ecosystem. By staking their VAL coins within the Validity wallet, users are incentivized with VAL coin rewards for their crucial role in maintaining the integrity of the network.
The Validity Smartchain is a secondary layer constructed atop the Validity blockchain, designed to facilitate scalability and provide a range of advanced utilities. The VAL token serves as the payment medium for these utilities, which encompass a diverse array of features, including Decentralized Identities (DID), Non-Fungible Tokens (NFTs), Social and Reputation Tokens, File Signing and Verification, Decentralized Elections and Voting, among others.