The POA Network is an Ethereum-based platform offering an open-source framework for smart contracts. The project is an Ethereum sidechain that uses Proof of Autonomy as its consensus mechanism, relying on a pre-selected set of validators to ensure the network’s security. The public identity of validators is considered an added feature.
What is POA (POA)?
POA Core is an autonomous network secured by a group of trusted validators. All validators in the network are United States notaries, and their information is public. This known distributed group of validators allows the network to provide fast and cost-effective transactions.
The POA organization also develops products and tools to improve interoperability, infrastructure, and transparency across the ecosystem. These include BlockScout, an open-source explorer, and TokenBridge, a multi-chain asset transfer solution.
The POA Network is managed by a decentralized group of US notaries, referred to as validators. Validators reach consensus on transactions and make all governance decisions through specialized distributed applications (DApps). Each decision is recorded on the POA blockchain. This process creates an effective and self-governing system, allowing for rapid and efficient changes to better serve the network.
According to statements, POA has four main use cases:
- The POA Network offers a high scalability solution for Ethereum DApps and developers. A consistent, high-performance environment means a 5-second block time, 60 transactions per second, and a minimum transaction price of 5 Gwei. This is ideal for game development and user experience.
- Community Currencies (CC) are locally produced currencies, similar to coupons, that local communities can use for goods and services transactions. CCs are created for use in marginalized communities with limited access to national currency.
- Kauri, similar to Medium for web3, is a decentralized article pool. Users create articles, tutorials, and documents and publish them on the platform. When a user creates an article with Kauri, it is stored on IPFS. Metadata such as the author’s name, article ID, and IPFS hash are then processed on-chain to record ownership and creation time.
- While in the POA Network, most large-scale decentralized finance applications are only accessible from the Ethereum mainnet. To access these services, POA can be bridged to POA20 and used on the mainnet.
Where to Buy POA Coin?
POA Coin can be purchased quickly and securely through Binance, the world’s largest cryptocurrency trading platform in terms of trading volume.
To buy POA Coin, one must first register with Binance and then send fiat currency. Following the transfer of a fiat currency like the Turkish Lira or dollar, a Bitcoin (BTC) purchase can be made in the POA trading pair.
Additionally, at Binance, users can place a buy order not only at market value but also at a lower value. To do this, use the Limit tab and enter the amount and price you wish to buy.
