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

ERC-1155

ERC-1155 token standard allows each token ID to represent both non-fungible (NFTs) and fungible tokens which may have their metadata, token supply and other attributes.

Merkle Tree

A Merkle tree is also known as a hash tree in cryptography. It is a tree where every lead node is labelled with cryptographic hash of a data block, and every non-leaf node is labelled with the hash of the labels of its child nodes. It is used to verify of data stored within it and transferable in and between computers.

Solidity

Object oriented programming languaged used in various smart contract blockchains.

Block

In the context of blockchain, block refers to the collection of transactional data or information that are bundled together in a predetermined size.

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