Proof of Authority (PoA) in BlockchainIn this series covering various consensus mechanisms, today, we’ll reap Proof of Authority (PoA) in blockchain technology. And how does it improvise the proof of stake (PoS) mechanism? We’ll also go through the working of PoA and the significant pros and cons of this algorithm.In broader ways, blockchain networks divide into 2 categories–Permissionless (Eg. Bitcoin, Ethereum, etc.) and Permissioned (Hyperledger, Ripple, Corda, etc.). Permissionless blockchain networks allow external parties to mine a new block of transactions to the network without any permission. However, the system follows a consensus algorithm and several protection protocols to ensure the safety of the network. On other hand, Permissioned blockchain networks have pre-authorized and selected participants. Hence, no external party is allowed to
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