Transaction Validation and Block Formation

In Fone Network, transactions are validated every 12 seconds through a collaborative process involving multiple validators and a leader node. This ensures the integrity and security of the network, prevents fraudulent transactions, and maintains accurate account balances.

Overview of the Validation Process

1. Scheduled Validation: Every 12 seconds, the network automatically runs a function to validate pending transactions.

2. Leader Node Selection: A leader node is randomly chosen from active nodes. This leader initiates the validation process by selecting a group of validators and oversees the transaction verification process.

3. Validator Selection: The leader selects five validators based on staking, rank, validator age, and two at random.

4. Transaction Processing and Block Creation: The selected validators validate pending transactions, which are consolidated into a new block if confirmed.