Whitepapers POA White Paper Explained Summary

POA White Paper Explained Summary

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POA White Paper

Summary:

-The POA white paper is an informational document that provides in-depth information about the POA network and the solution it proposes.

-The paper discusses the inspiration for creating the POA network, the problem it is trying to solve, and the solution proposed by POA.

-The paper describes the consensus algorithm used by POA and how it is used to reach consensus on a global state.

-The paper also discusses the features of the POA network, including its compatibility with the Ethereum protocol, its support for trusted setup and on-chain governance, and its use of proof of identity” oracles.

Explained – POA White Paper. Learn in depth about differnet coins on the blockchain by understanding whitepapers.

There is a lot to learn about this futuristic tech, lets get started to dive into the POA white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.

We will deep dive into how the coin works by understanding the whitepaper and its summary. POA.

Lets understand POA after going through the POA white paper.

Without wasting any further time lets get started to dive right in and lets understand white paper first.

What is white paper?

A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.

A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.

POA White Paper

POA white paper will be going to provide you, all the information that is needed to get started with POA, including the inspiration for creating, the problem it is trying to solve and the solution proposed by POA.

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Introduction

POA Network is an open, public, permissioned blockchain based on Ethereum protocol. To reach consensus on a global state, it uses a Proof of Authority consensus algorithm. PoA consensus is a straightforward and efficient form of Proof of Stake with known validators and governance-based penalty system. A list of validators is managed by a smart contract with governance by validators.

During an initial ceremony, master of ceremony distributes keys to 12 independent validators. They add 12 plus one more to reach initial requirements for the consensus. To be validators on the network, a master of ceremony asks them to have an active notary public license within the United States. A concerned third party can cross-validate validators identities using open data sources and ensure that each validator is a good actor with no criminal records. In the proposed network, identity of individual validator and trust to independent and non-affiliated participants will secure the consensus.

The network is fully compatible with Ethereum protocol. The network supports only Parity client version 1.7 and later. The network supports trusted setup, on-chain governance, and a variety of proof of identity” oracles. We believe that POA Network will close a gap between private and public networks, and will become a model for open networks based on PoA consensus.

White Paper Link: POA White Paper

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