Proof-of-Authority (PoA) is a consensus algorithm used for blockchains that require high levels of security and speed.
It operates by designating a set of authoritative nodes, also known as validators, who are responsible for validating transactions and creating new blocks.
In a PoA system, the validators are known, trusted individuals or organizations that have been vetted by the network. This ensures that the web is highly secure, as the validators are held accountable for their actions and have a reputation to maintain.
Unlike other consensus algorithms, such as Proof-of-Work (PoW) or Proof-of-Stake (PoS), PoA is designed to be energy-efficient and fast. This makes it ideal for the private, consortium, or enterprise-level blockchain applications where speed and efficiency are essential factors.
