ERC20 Token
POA Network (POA)
POA Network is an open Ethereum sidechain with Proof of Authority consensus, reached by independent validators. They are building a public network for smart contracts that combines speed, security, and cost efficiency. POA Network is designed as a general application blockchain. I.e. what can be done on Ethereum network, can also be done on POA Network.
Building a service on top of a public blockchain right now has both high technical barriers of entry and significant upfront costs. As the result, many small and medium businesses are excluded from adopting and enjoying the benefits of the blockchain technology.
POA aims to fix the large majority of these current issues. POA Network supports decentralized applications (DApps): decentralized applications for launch and governance of validators on POA Network, decentralized oracles for sovereign identity, decentralized applications for network management.
“We are building a public network that combines speed, security, and cost efficiency, previously only available to private networks. We aspire to become a decentralized hub for open networks based on PoA consensus. We see POA Network as a first step towards realizing our vision of horizontal blockchains scalability by creating a swarm of blockchains with Proof of Authority consensus, connected by interledger protocols.”
Buy & SellPositives
- POA Network can be used to resolve the scalability issues that Ethereum currently faces. With all Ethereum Dapps able to take advantage of this technology there are no barriers for developers which is a huge step toward adoption/utilization.
- The ICO Wizard developed by the POA Network team have developed is extremely useful for developers looking to create their own ERC20 Tokens and run their own ICO’s.
- The team is very experienced with members that have been a part of the cryptocurrency community for years including the likes of William Mougayar who is an advisory board member of the Ethereum Foundation. The team ticks all the boxes.
- Great POA supply considering usage. Already listed on Binance and Bibox at the time of writing (April 2018).
- At the time of writing, POA is sitting at around a 100 million market cap. Considering the applications that the POA Network has, this is still very low with large growth potential.
Exchanges
Concerns
- Our main concern here is the roadmap for Ethereum and future updates to the Ethereum Network. If features such as Sharding, POS & Raiden are able to drastically improve speed, block time, scalability, etc, that could potentially take a lot of points of difference away from the POA Network. Hopefully the team are aware and are planning around this.
- Proof Of Authority while an interesting and very useful way of validation, is not safe from attacks/influence if there is a large enough reason for people to act maliciously.
- Usually tokens that are not an ERC-20 token are slow to list on exchanges due to wallet integration and communication time/support between the exchanges and the team. POA seems to be kicking goals early with listings on Binance and Bibox which is great. Just be prepared for those people asking “When Exchange?” and complaining about slow listings. Not a direct concern for POA.
Official Links
Token Details
Token Type
ERC20 Token
An Ethereum Sidechain Token. Can be stored on any ERC20 compatible wallet e.g MyEtherWallet
Token Statistics
Supply
• Ticker: POA
• Total Supply: 254,530,383
• Circulating Supply: 204,038,223
• Token Use: Services & Fees
Founders
The Team
• Igor Barinov (Technical Lead)
• Viktor Baranov (Core Dev)
• Andrew Cravenho (Project Lead)
• More
Industry
& Competitors
• Decentralized Applications
• ICO Platform
• Competitors – Tomochain
