Proof of Authority (PoA)

Proof of Authority (PoA) - Check out the news here

PoA is a consensus algorithm used in blockchain networks, where a group of pre-approved authorities validate transactions and create new blocks.

In PoA, the authority nodes are responsible for validating transactions, verifying their authenticity, and creating new blocks in the blockchain.

[{"selector":"#anim-59a997c0-9fe1-435e-90ae-0ae301d1afda [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(28.90624987200394%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Arrow

[{"selector":"#anim-35af71de-c4e7-4753-b81f-8c7d9c9332f8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-32.74910490725541%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Unlike other consensus algorithms, such as Proof of Work (PoW) or Proof of Stake (PoS), PoA does not require significant computational resources or energy consumption. Arrow

[{"selector":"#anim-18aa9cdc-20be-4cae-9699-7b1af2736b39 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.179687404002955%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] PoA consensus mechanism is ideal for use cases where high throughput and fast transaction processing are required. Arrow

PoA uses a system of reputation, where each authority node has a reputation score that can increase or decrease depending on their behavior.

[{"selector":"#anim-9688c8af-638a-4103-a277-04f61dc7a471 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Arrow

[{"selector":"#anim-696dabc9-28cc-4364-a285-50311cf7762c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The PoA consensus algorithm is highly centralized, as the validation of transactions and creation of blocks is controlled by a small group of trusted authorities. Arrow

[{"selector":"#anim-1872db52-0dbf-4a7a-b59a-9bfecd5bbf02 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.285244247341844%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] PoA networks are less secure than PoW or PoS networks, as they are more vulnerable to Sybil attacks. Arrow

[{"selector":"#anim-42ca4231-c2e7-4620-bf71-17a90281854d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.179687404002955%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] PoA is more efficient than PoW, as it does not require miners to solve complex mathematical puzzles, reducing the energy consumption and computational resources required to maintain the network. Arrow

Hope you people found the story informative. For more such interesting stuff, click on the link given below

[{"selector":"#anim-fe5756d5-a748-48bd-96f9-2f6957ca8600 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.499999772451451%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Arrow SWIPE UP