What is POA Network?
POA Network has adopted Proof-of-Authority their consensus algorithm. Using Proof of Authority allows their consensus and validation to be more efficient. POA Network uses authorities for validation of transactions and consequent block generation and for securing the network. In POA Network, these authorities don’t have to stake within the network but rather they should verify their identities complete with notary licenses inside the US.
Users can easily write dApps and deploy them and even create unique networks on top of POA’s network. Besides, the network support cross chain transactions and even transfer POA via Parity Bridge. The process has been made very cost efficient and quick. Besides, the fact that one can easily build special layers on top of the network means there is horizontal scalability since the network per say would be governed by the same set of rules.
Through the introduction of POA20 tokens the hypothesis was proved right that two blockchains can interact in a safe and secure manner.