Proof-of-Authority

in hive-183397 •  11 months ago 
ASSALAMU'ALAIKUM

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Proof-of-Work and Proof-of-Stake

However, there was another consensus found, including; Brain Proof, Delegate Brain Proof, Authority Proof, etc.

This innovation comes with many improved features and allows more adequate and better use.

Just like the Bitcoin blockchain, and other blockchains that run on the PoW mechanism always have low levels or performance degradation over time. When it comes to blockchains that run on a PoS consensus mechanism, we always face absolute decentralization because a lot of influence is exerted on high stakes of the blockchain's native tokens.

The above issues are things that should lead to the development of other consensus mechanisms especially PoA.

PoA works more in solving the scalability problems associated with Pow and at the same time solving the problem in absolute decentralization in terms of proof of PoS.

Similar to the PoS mechanism but more innovative PoA does not have much influence on Stakers but users have to operate on the blockchain enough to get a good reputation which is more of a fair operation.

Similar to PoS, PoA limits the number of miners thereby creating sufficient scalability which in turn improves blockchain performance.

In addition, in the PoA mechanism, there is no absolute privacy for validators because apart from gaining reputation, their real identity must also be published.

However, the PoA consensus mechanism performs better than PoW and has more decentralized operations when compared to PoS.

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Conclusion
  • Proof-of-Authority (PoA) is a consensus algorithm that relies on a predetermined authority to validate transactions and create new blocks.

  • In contrast to Proof-of-Work (PoW), PoA does not require solving complex mathematical puzzles, making it more energy efficient.

  • However, PoA requires a level of trust in a designated authority, so it is often used in private or consortium blockchain networks where participants know each other and cooperation is expected.

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Nice article on consensus mechanism and you did good in explaining proof of work and stake consensus mechanism

Thank's

Proof of authority is an interesting consensus mechanism that's used by some blockchains. It's different from proof of work or proof of stake, as it relies on a group of trusted validators to verify transactions and maintain the blockchain. Proof of authority is often seen as more efficient and less resource-intensive than other consensus mechanisms, but it also raises questions about centralization and security.

Wow. So beautiful post . Your article is so educative...

Thank's