Proof of authority: Difference between revisions
Adding local short description: "Blockchain algorithm", overriding Wikidata description "is an algorithm used with blockchains that delivers comparatively fast transactions through a consensus mechanism based on identity as a stake" |
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'''Proof of authority''' ('''PoA''') is an [[algorithm]] used with [[blockchain]]s that delivers comparatively fast transactions through a consensus mechanism based on identity as a stake.{{ |
'''Proof of authority''' ('''PoA''') is an [[algorithm]] used with [[blockchain]]s that delivers comparatively fast transactions through a consensus mechanism based on identity as a stake.<ref>{{cite web |
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|title=Proof of Authority (PoA) Definition |
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|url=https://www.coindesk.com/learn/what-is-proof-of-authority |
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|website=CoinDesk |
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|date=2022-06-01 |
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|access-date=2025-09-19 |
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The most notable platforms using PoA are VeChain,<ref>{{cite news |url=https://perso.liris.cnrs.fr/omar.hasan/publications/hasan_2020_pprs.pdf |title=Privacy Preserving Reputation Systems based on Blockchain and other Cryptographic Building Blocks: A Survey |first=Omar |last=Hasan |year=2020 |access-date=2024-05-24 |archive-date=2022-08-01 |archive-url=https://web.archive.org/web/20220801165501/https://perso.liris.cnrs.fr/omar.hasan/publications/hasan_2020_pprs.pdf |url-status=live }}</ref> Bitgert,<ref>{{cite news |url=https://blog.cryptostars.is/572-trillion-bitgert-brise-have-been-burned-b7643a16cc2/ |title=Bitgert $BRISE "Burning" Everyday |year=2022}}</ref> Palm Network<ref>{{cite news |url=https://palm.io/about-us/ |title=About Us |access-date=2024-05-24 |archive-date=2023-02-18 |archive-url=https://web.archive.org/web/20230218224722/https://palm.io/about-us/ |url-status=live }}</ref> and Xodex. |
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==Proof-of-authority== |
==Proof-of-authority== |
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Revision as of 10:46, 19 September 2025
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Proof of authority (PoA) is an algorithm used with blockchains that delivers comparatively fast transactions through a consensus mechanism based on identity as a stake.[1]
The most notable platforms using PoA are VeChain,[2] Bitgert,[3] Palm Network[4] and Xodex.
Proof-of-authority
In PoA-based networks, transactions and blocks are validated by approved accounts, known as validators.[5] Validators run software allowing them to put transactions in blocks. The process is automated and does not require validators to be constantly monitoring their computers. It, however, does require maintaining the computer (the authority node) uncompromised. The term was coined by Gavin Wood, co-founder of Ethereum and Parity Technologies.[6]
With PoA, individuals earn the right to become validators, so there is an incentive to retain the position that they have gained. By attaching a reputation to identity, validators are incentivized to uphold the transaction process, as they do not wish to have their identities attached to a negative reputation. This is considered more robust than PoS (proof-of-stake) - PoS, while a stake between two parties may be even, it does not take into account each party's total holdings. This means that incentives can be unbalanced. On the other hand, PoA only allows non-consecutive block approval from any one validator, meaning that the risk of serious damage is centralized to the authority node.[citation needed]
PoA is suited for both private networks and public networks, like POA Network or Eurus, where trust is distributed.[citation needed]
References
- ^ "Proof of Authority (PoA) Definition". CoinDesk. 2022-06-01. Retrieved 2025-09-19.
- ^ Hasan, Omar (2020). "Privacy Preserving Reputation Systems based on Blockchain and other Cryptographic Building Blocks: A Survey" (PDF). Archived (PDF) from the original on 2022-08-01. Retrieved 2024-05-24.
- ^ "Bitgert $BRISE "Burning" Everyday". 2022.
- ^ "About Us". Archived from the original on 2023-02-18. Retrieved 2024-05-24.
- ^ parity: Fast, light, robust Ethereum implementation, Parity Technologies, 2017-12-12, archived from the original on 2018-07-14, retrieved 2017-12-12
- ^ Gavin, Wood (November 2015). "PoA Private Chains". Github. Archived from the original on 2022-07-27. Retrieved 2018-01-03.
