What is Proof of Authority (PoA)?

Proof of Authority (PoA) is a consensus algorithm in which the nodes with the right to create new blocks and validate transactions are chosen in advance. These nodes are called "authorities" and are usually appointed by the network's organization. The authorities are responsible for validating transactions and adding them to the blockchain. In PoA networks, the authority nodes are trusted to create blocks and validate transactions honestly, as they have a reputation to uphold. This makes PoA networks more efficient…