Validator

Validator is a core component of the system. It gathers transactions out of transactions’ pools, builds and distributes blocks. Validator’s holders evenly receives a part of GC Trade fees pool as a reward. In each point of time new block distributes by the Leader Validator. The Leader is chosen randomly in a random time period. To become a validator one should meet technical requirements and make a CGT security deposit. Amount of validators working in network determines by accessible validations’ slots. Amount of validations’ slots determines by network maturity and grows according to GC Total trading volume growth. Validator includes Trading Engine and Derivatives’ Settlement Engine. Trading Engine matches spot markets’ place orders transactions and discovers spot prices. Derivatives’ Settlement Engine follows spot market price feeds, discovers derivatives’ prices and settles positions on expiration dates.

Auditors

Auditors behave the validators’ way to check if the blocks was not corrupted by the Leader Validator. If a corruption fact was discovered and proofed, the Leader Validator bans and chain excepts a Block issued by the Auditor. Auditor, who discovered the corruption fact, receives Leader Validator’s insurance deposit and its slot. Running Auditor requires the same technical resources but much smaller CGT security deposit. Auditor’s holders receives a small part of GC Trade fees pool as a reward.

Distributed Cache

Cache controls users’ transactions pools. It accepts users and system transactions, sorts them among pools. Cache generates data for users’ consumption out of transactions: spot markets’ price feed, order books, trading history, etc. Limited version of cache, containing transactions’ pools, is a part of validator. Full version of Distributed Cache is a stand alone service. Distributed Cache's holders do not receive trading fees rewards but instead become first frontier’s data providers.