The POA network tries to build an open and open network based on the Ethernet protocol and using Proof-of-authority. The main core idea of ​​the project is to allow individuals to use the POA protocol to build a smart contract platform that is faster and cheaper than the POW protocol. Another key solution is to establish a bridge between blockchains based on the rules of the Ethereum protocol, enabling interaction and connectivity between blockchains of different protocol types (such as POW and POA).

The POA project is the only one among the 318 successful financing projects in 2017. The code base has been fully developed before the financing. It distributed tokens with super high work efficiency and the fastest speed and released its own main network at the same time. Blockchain browser, an independent public blockchain project that implements cross-chain applications.

Currently, there are several cross-chain cryptocurrencies: Polk, Aion, Icon, Wanchain, Cosmos. These projects are either stuck in the concept stage, or still need a long cycle of 1-2 years of development. In this case, POA realized the cross-chain ICO application early, and took a breakthrough step in the field of cross-chain.

Project Introduction

The POA network is an autonomous network secured by a set of trusted validators. All validators on the network are US notaries whose personal information is publicly available. This decentralized organization of known validators provides fast and low-fee transaction assurance for the entire network.
Beyond that, POA develops products and tools to improve interoperability, infrastructure and transparency across the ecosystem. These include BlockScout, an open-source blockchain explorer, TokenBridge, a multi-chain asset transfer solution, and xDai Network, a stablecoin-based network.

Project Highlights

Known Validators

POA's consensus mechanism is unique in the public blockchain space. US notaries act as validators, providing consensus and securing the blockchain network. The POA network is governed by a decentralized group of U.S. public notaries known as validators. In addition to reaching consensus on transactions, validators make all governance decisions through a proprietary decentralized application (DApp). Every decision is recorded on the POA blockchain. This process creates an efficient autonomous system that can quickly and efficiently make changes to better serve the network.

POADAO Consensus

POA consensus is unique in the field of public blockchains. POA DAO (Decentralized Autonomous Organization) is made up of US notaries who secure the network and verify transactions. A POA Network Validator is an autonomous group of individuals. They are each delegated in a decentralized manner to facilitate network health, performance, and security. Validators must monitor their own nodes and the entire ecosystem to maintain optimal performance.

Bridge Native Token

POA native tokens can be bridged to the ETH main network as POA20 equivalent. POA tokens are the native currency of the POA network. It is used for transactions and fee payments on the network. Additionally, POA20 is an ERC20 token used on the Ethereum mainnet. It uses POA's TokenBridge bridge to bridge to the main network and can be exchanged in both directions. With the help of the TokenBridge bridge, POA opens up how blockchains can connect and interact with each other. Since May 2018, our cross-chain token bridge solution has provided interoperability and scalability to the Ethereum ecosystem, facilitating asset transfers between Ethereum-based networks.

Application scenario

Scalability of blockchain games

POA network provides the best conditions for game development and experience. POA Network provides an irresistible scalability solution for Ethereum DApps and developers. A consistent high-performance environment means 5-second block generation times, 60 transactions per second, and a fixed gas price of 1 Gwei. This is ideal for game development and user experience. In addition to favorable network conditions, the TokenBridge bridging function provides the ability to move game tokens in and out of the POA network. This is a "game changer" and some games are taking advantage of this feature to provide fast, cheap gameplay on the POA network while moving tokens across the bridge to attract a larger Ethereum user base for market transactions .

Community-based currency

POA Network is used as the base layer for native token generation and exchange. Community Currency (CC) is a native token, similar to a voucher, that local communities can use to trade goods and services. CC was created to be used in marginalized communities with limited access to national currency. They increase trade among small communities and villages in rural areas, create employment and improve food security for the individuals who implement these programmes. Transitioning from paper vouchers to a blockchain currency enables neighboring communities to transact using their own native currency. Blockchain enables CC transactions to maintain security and immutability, while smart contracts enable users to create on-chain currencies that can interact with each other.

Subsidy transactions

Low per-transaction fees, allowing applications to pay for user interactions. Kauri is a decentralized article repository, similar to Medium for web3. Users create articles, tutorials and documentation and publish them on the platform. When a user creates an article using Kauri, that article is stored in IPFS. Metadata such as author name, article ID, and IPFS hash are then committed on-chain to register ownership and creation time. By transferring publication registration to the POA Network, Kauri is able to subsidize transaction costs through the use of meta transactions. A complete POA costs less than 0.01 cents. This enables users to simply enter their data and the transaction is paid for by the app in the background. Users don't know they are using a sidechain, and Kauri makes it easy to pay transaction fees.

Decentralized Finance (DeFi)

POA20 can be used with DeFi applications on the Ethereum mainnet. While POA resides on the POA Network, most large-scale decentralized financial applications are only accessible on the Ethereum mainnet. To access these services, POA can be bridged to POA20 and used on mainnet. EthLend is a cryptocurrency lending marketplace where users can put up one asset as collateral and get another asset as a loan. POA20 can be used as a collateral token to receive loans in Ethereum or other tokens you want to borrow.