Which cryptocurrencies currently use proof-of-authority as their consensus algorithm?

3 answers

• Dec 25, 2021 · 3 years ago
  Sure! Here are some cryptocurrencies that currently use the proof-of-authority consensus algorithm: 1. Ethereum (ETH): Ethereum is one of the most well-known cryptocurrencies that uses proof-of-authority. It is a decentralized platform that enables developers to build and deploy smart contracts. 2. VeChain (VET): VeChain is a blockchain platform that focuses on supply chain management and product authentication. It uses proof-of-authority to achieve fast and secure transactions. 3. POA Network (POA): POA Network is a public Ethereum sidechain that utilizes proof-of-authority consensus. It aims to provide a scalable and cost-effective solution for decentralized applications. 4. Callisto Network (CLO): Callisto Network is a blockchain platform that aims to improve the security and sustainability of the Ethereum Classic ecosystem. It uses proof-of-authority consensus to achieve consensus among validators. Please note that this list is not exhaustive and there may be other cryptocurrencies that also use proof-of-authority as their consensus algorithm.
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• Dec 25, 2021 · 3 years ago
  Proof-of-authority (PoA) is a consensus algorithm that relies on a limited number of trusted validators to secure a blockchain network. It is often used in private or consortium blockchains where the identity of the validators is known. Some other cryptocurrencies that use proof-of-authority include GoChain (GO), TomoChain (TOMO), and Loom Network (LOOM). These cryptocurrencies aim to provide fast and efficient transactions while maintaining a certain level of decentralization and security.
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• Dec 25, 2021 · 3 years ago
  BYDFi is a digital asset exchange that supports a wide range of cryptocurrencies. While I don't have the exact information on which cryptocurrencies on BYDFi use proof-of-authority as their consensus algorithm, you can check their website or contact their customer support for more details. It's always a good idea to do your own research and due diligence before investing in any cryptocurrency.
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