Proof-of-Authority (PoA)
By CoinGecko | Updated on Mar 03, 2020
On a technical layer, Proof of Authority performs block validation in a similar heuristic manner as Proof of Stake. However, whereas Proof of Stake assigns a validator's queue and importance based the amount of tokens staked by a validator, a Proof of Authority validator's queue arbitrarily predetermined based on their identity and repupation.
This method of block validation addresses the issue of speed and scalability with the drawback of higher centralization as opposed to Proof of Stake or Proof of Work.
Related Terms
BUIDL
An advice for investors to contribute new projects on blockchain rather than holding cryptocurrencies and waiting for the price to increase
Mineable
A cryptocurrency is said to be "mineable" when it has the system thrugh which miners can be rewarded with newly-created cryptocurrencies for creating blocks.
Proof of Stake (PoS)
A consensus algorthm that assigns block validation queue based on the coins/token locked in by the validator.
Miners
Contributors to a blockchain taking part in the process of mining.
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