What Is Proof Of Apes (POA)? Complete Guide & Review About Proof Of Apes

What Is Proof Of Apes (POA)?

Proof Of Apes are on a journey to create the best environment for developers to build new innovate technology. The PoA Blockchain is the next evolution for defi apes to test the limits and accelerate other blockchains through interoperability and secure communication layers. Built on solid foundations, PoA Blockchain will be remain sustainable in growth, infrastructure and partnerships throughout the defi landscape.

Layer 1 Blockchain

They are on a journey to create the best environment for developers to build new innovate technology. The PoA Blockchain is the next evolution for defi apes to test the limits and accelerate other blockchains through interoperability and secure communication layers. Built on solid foundations, PoA Blockchain will be remain sustainable in growth, infrastructure and partnerships throughout the defi landscape.

Features

Proof Of Authority

OpenEthereum supports a Proof-of-Authority consensus engine to be used with EVM based chains. Proof-of-Authority is a replacement for Proof-of-Work.

It does not depend on nodes solving arbitrarily difficult mathematical problems, but instead uses a set of “authorities” – nodes that are explicitly allowed to create new blocks and secure the blockchain. The chain has to be signed off by the majority of authorities, in which case it becomes a part of the permanent record. This makes it easier to maintain a private chain and keep the block issuers accountable.

For consortium setting there are no disadvantages of PoA network as compared to PoW. It is more secure (since an attacker with unwanted connection or hacked authority can not overwhelm a network potentially reverting all transactions), less computationally intensive (mining with difficulty which provides security requires lots of computation),

More performant (Aura consensus provides lower transaction acceptance latency) and more predictable (blocks are issued at steady time intervals). PoA deployments are used by the enterprise and by the public.

Environmentally Friendly

The blockchain doesn’t require Proof of Work GPU mining to maintain the network. The diligent validators provide the uptime/stability for the network using 99.9% less energy than the BTC network.

Cheap Transactions

Low cost of transactions and on-chain operations is definitely the decisive factor that drives developers and users to migrate from Ethereum and other smart blockchains to the PoA. In times of high congestion of the Ethereum network, the same transaction could cost over 10,000 times more on Ethereum compared to PoA.

Fast Adoption

Transactions on the PoA network will not require high gas fees to complete smart contract interactions. Developer will be able to quickly port already exisiting contracts and daaps to the PoA network

Consensus Mechanism

The IBFT PoA is the default consensus mechanism. In PoA, validators are the ones responsible for creating the blocks and adding them to the blockchain in a series. All of the validators make up a dynamic validator-set, where validators can be added to or removed from the set by employing a voting mechanism.

This means that validators can be voted in/out from the validators-set if the majority (51%) of the validator nodes vote to add/drop a certain validator to/from the set. In this way, malicious validators can be recognized and removed from the network, while new trusted validators can be added to the network.

Roadmap

EVM Compatibility

Built for secure, fast, stable blockchain for developers to test the limits and evolve.

PoA Bridge

You are able to bridge your PoA (ETH) Token from Etheruem Mainnet to Proof of Apes Mainnet.

• TBC LINK

The bridge will be accessible to NFT holders prior to the public release.

Create a project on PoA

Launch a token with our simple to use templates:

• TBC LINK

Or join our developer focused telegram community here:

• TBC LINK