Cryptocurrency Q&A
What is POA ethereum?
What is POA ethereum?
WhisperEcho
Wed Nov 06 2024
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6 answers
1091
POA Ethereum refers to the Proof of Authority consensus mechanism used in the Ethereum network. It relies on a set of pre-authorized nodes, known as authority nodes, to validate transactions and create new blocks. This mechanism aims to improve the efficiency and scalability of the network while maintaining a certain level of decentralization.
6 answers
Silvia
Fri Nov 08 2024
Unlike Proof of Work (PoW), PoA aims to eliminate the need for significant investments in computational power and energy.
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Michele
Fri Nov 08 2024
This approach is designed to be more environmentally friendly and cost-effective.
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SsangyongSpirit
Fri Nov 08 2024
Similarly, PoA avoids the requirement for staking deposits, which is a characteristic of Proof of Stake (PoS) consensus.
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MoonlitCharm
Fri Nov 08 2024
Proof of Authority (PoA) consensus serves a distinct purpose in the realm of blockchain technology.
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MysticStorm
Fri Nov 08 2024
By doing so, PoA seeks to provide a more accessible and efficient way of achieving consensus.
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