Proof of Authority (PoA) is a consensus mechanism where transactions are validated by a limited number of pre-selected, authorized nodes known as validators. These validators are typically reputable entities, and their identity is known. PoA offers high transaction throughput and faster finality compared to proof-of-work, making it suitable for permissioned blockchains and private networks. It relies on the reputation and trustworthiness of the validators.
Context
News frequently reports on Proof of Authority being utilized in enterprise blockchain applications and consortia chains, where a centralized authority or a group of trusted participants is acceptable. Discussions often compare PoA with more decentralized consensus mechanisms, highlighting its trade-offs between efficiency and censorship resistance. The mechanism’s use is prominent in contexts requiring strict control and verifiable identities.
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