Nominators are individuals who participate in the staking process by staking CTC (the native cryptocurrency of Creditcoin) and selecting validators to support.
By staking CTC and nominating validators, nominators contribute to the security and operation of the network. Nominators can earn rewards by staking their CTC and sharing in the staking rewards generated by the validators they nominate.
To become a nominator, one needs to have a stash account where funds can be transferred for staking. It is recommended to also have a controller account or a staking proxy for added security. Nominators can select validators based on various factors such as recent payout history, total stake, commission rates, and the validator's own stake.
It is important for nominators to carefully choose validators that adhere to network rules and behave properly to avoid the risk of losing staked funds through slashing.
Refer to the Staking Rewards and Slashing sections to know more about how nominators are compensated for staking and the associated risks.