What is POA Network? POA Network is an Ethereum-based sidechain that offers an open-source framework for smart contracts and solves scalability, affordability, and interoperability. Using a Proof-of-Authority consensus mechanism, POA Network leverages an independent network of licensed U.S. public notaries as validators to promote security, speed, and transparent governance. POA Network has a growing ecosystem of open-source projects that deliver key solutions for the Ethereum community including an open-source full-featured block explorer BlockScout, an array of Bridges for interoperability between EVM chains, and Nifty Wallet to focus on usability of real-world applications.
How does it work? POA Network provides developers with the flexibility to code in Ethereum standards with the added benefits of POA Network's solutions to scalability and interoperability in blockchain networks. Developers are able to take their code and easily port it over to POA Network from Ethereum and take advantage of this new robust network in a matter of minutes.
What POA Network aims to solve? POA Network is looking to solve the biggest issues which exist today with some examples including scalability, interoperability, network congestion, high gas costs, governance, etc. A lot of DApps are not successful because of these reasons and POA Network is an alternative blockchain solution that developers can deploy to and take advantage of. POA Network consistently releases open-source solutions and tools for its community to leverage and build on top of. We've recently released the first ever open-source blockchain explorer along with various interoperability bridges and even new networks!
What are the features of POA Network? POA Network offers fast transactions for its users since it has a 5 second block generation time. It also has extremely low gas costs/transaction fees especially when compared to some of the bigger blockchain networks that exist today. On-chain governance is another area POA Network excels in as Validators of POA Network are self-managed and govern the network in a transparent manner.