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
Validator
A block-signing participant of a Proof of Stake blockchain network, whom have significant tokens staked on the network.
KYC (Know Your Customer)
KYC stands for "Know Your Customer", a process for business entities are required to verify its clients and assessing them.
Mining
It is the process of the miners verify and adding transaction recors into a block.
Web3 Wallet
Web3 Wallet is the software that allows you to interact with web 3.0.
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