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Proof of Authority  Form

Proof of Authority Form

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hey everyone it's matt here welcome back to another episode of savant's tech talk the cryptocurrency space has witnessed many innovations since bitcoin hit the scene and these include consensus mechanisms like proof of stake and proof of authority which serve as alternatives to bitcoin's proof of work these consensus mechanisms were proposed in light of criticisms pertaining to proof of work's energy consumption and scalability when it comes to transactions per second bitcoin and other proof-of-work-based blockchains suffer from a lack of scalability this is due to the fact that bitcoin is based on a dispersed network of nodes that must come to an agreement on the present state of the blockchain this implies that the majority of the network's nodes must come to an agreement regarding verification only then can a new block of transactions be confirmed so although bitcoin's decentralized nature provides a safe and trustless ecosystem it als

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