The Verifier Nodes is a network of nodes that verify referral conversions and ensure that the Attrace Referral Network can operate in a trustless manner without being managed by a central authority.
Verifier Nodes provide crucial service to Attrace Referral Network and perform the core tasks:
- Store conversion tokens - Minted (secondary) conversion tokens derived from the (primary) referral tokens are stored by Verifier Nodes
- Observe blockchains - Verifier Nodes observe one of multiple blockchains transaction logs to spot any movement of the promoted token
- Conversion verification - Verifier Nodes verify conversions by retrieving the stored conversion tokens and identify transaction
- Bounty payout - Verifier Nodes initiate conversion logic to trigger automatic payout of commission and cashback
- Fraud detection - Verifier nodes are safeguarding the network by scanning for any potential fraud via the involved referral parties or peer nodes
Verifier Nodes are incentivized to perform the required tasks by receiving rewards in $ATTR for their service.
Verifier Nodes are required to stake $ATTR tokens when joining the network to ensure “skin in the game”. The nodes keep each other in check by observing each other for fraudulent behaviour and enforcing a fine in case of bad acting.