Binance Lists POA Network (CRYPTO:POA)
POA Network is an open Ethereum sidechain with Proof of Authority (PoA) consensus, reached by independent validators. It's a public network for smart contracts that combines speed, security, and cost efficiency.
POA Core Network consists of the PoA-based protocol, the validators who seal the blocks according to the rules of this protocol, and the DApps that enable the network functionality. Core Network is an independent chain with its own native coin.
At POA Network, we are making the case that consensus by individuals is a feasible business model for blockchains. A streamlined consensus algorithm that creates a trustless environment without an expensive setup, combined with a swarm of blockchains, connected to each other to transfer value, can establish a foundation for faster and cheaper smart contracts.
Max Supply: 252,460,800 POA
Circulating Supply: 201,968,640 POA
Issue Price: $0.0724
To view the Whitepaper, please visit:
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About POA Network
Oracles Network is an open, public, permissioned blockchain based on Ethereum protocol. To reach consensus on a global state, it uses a Proof of Authority consensus algorithm. PoA (CRYPTO: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 crossvalidate 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.
The network is fully compatible with Ethereum protocol. The network supports only Parity client version 1.7 and later. The network supports trusted setup, on-chain governance, and a variety of "proof of identity" oracles. We believe that Oracles Network will close a gap between private and public networks, and will become a model for open networks based on PoA consensus.