$0.03
Price (USD)
$7.2 M
Market Cap (USD)
$183.65 K
Volume (24h)
220.17 M
CIRCULATING SUPPLY (POA)

Performance Summary

Percentile Ranking (0-100)

44
Root Rank
43
social
63
usage
50
price performance
85
development

MACD

Description

POA Network is an open, public, permissioned blockchain based on Ethereum[^fn1] 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.

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