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Proof of Authority (PoA)

Intermediate
Glossary
Nov 15, 2023
3 min read
0

Cryptocurrency and blockchain technology have revolutionized the way we think about financial transactions and digital trust. Among the various consensus mechanisms used in these technologies, Proof of Authority (PoA) stands out for its efficiency and security. This article will delve deep into the concept of Proof of Authority, its role in the crypto world, and why it's a game-changer.

Understanding Proof of Authority

What is Proof of Authority?

Proof of Authority is a type of consensus mechanism used in blockchain networks. Unlike Proof of Work (PoW) and Proof of Stake (PoS), PoA relies on a limited number of validator nodes that are pre-approved and trusted. These validators create and validate new blocks in the blockchain, ensuring security and consensus without the need for intensive computational work.

Key Characteristics of PoA

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