$ 0.0001978
1 year ago
(-0.01%)
Poa Network is a public sidechain based on the Ethereum protocol. The blockchain will feature the Proof-of-Authority algorithm, which does not depend on the nodes solving mathematical problems, but instead uses a set of "authorities", pre-selected validators that will be able to seal the blocks and secure the network. The validators identity will be public enabling any third party to check their identity.
The Poa Network will allow organizations to build their own networks with their own validators and developers to deploy DApps.
On April 28, 2018, the POA Team announced the launch of a cross-chain bridge that gives users the ability to send POA tokens back and forth between the POA Network and the Ethereum network. POA Bridge went live on May 10.
The POA to Ethereum transfer will result in the creation of a newly minted token on the Ethereum blockchain known as POA20. The user will also have the ability to transfer POA20 tokens from the Ethereum network back to the POA Network, which would result in the burning of the POA20 token and subsequent unlocking of the original POA native token on the POA Network.
Try our free Poa Network (POA) portfolio tracker if you want to efficiently keep track of your POA and other coin/token investments.