Cross Chain Consensus
PoA (Proof of Authority) is a consensus approach in which a group of validators has been selected as the authorizer. Their task is to check and verify all newly added identities, validate transactions, and block blocks that are being added to the network. To ensure efficiency and security in the network, validator groups are typically kept small (-25 or smaller). The node needs to complete a mandatory process to authenticate itself in order to gain the right to generate new blocks. Authenticators are required to register in the public notary database using government-issued documents with the same identity as theirs on the platform. As a result, blocks and transactions are verified by the participant, whose identity has been verified and acts as a permission for the system.
Compared to other consensus approaches, PoA has the following advantages:
- High transaction rate.
- No high-performance hardware is required.
- PoA networks are highly scalable compared to PoW blockchain
- Less power consumption.
- Low transaction fees.
- Increased speed of valid transactions
- No communication is required to reach a consensus between nodes.
- Network operation is independent of the number of real nodes available.
- The chance that a node becomes counterfeit depends on its shares and overall holdings.
Node hosting and deployment will open to the public soon. More information on node hosting will come soon. Stay tuned!