Can someone tell me pros and cons of Proof of Authority vs …
Can someone tell me pros and cons of Proof of Authority vs PoW? Need some arguments in a discussion with my collegues :p
Replies
Proof of Authority pros:
-works best on private networks, Blocks and transactions are verified by pre-approved participants, who act as moderators of the system
PoA cons:
-not nearly as decentralized or immutable.
-PoA validators are visible to anyone
Source:
https://www.binance.vision/blockchain/proof-of-authority-explained
Proof of Work pros:
-Provides the best security.
-Can be implemented by anyone and is therefore completely decentralized.
PoW cons:
-uses a lot of electricity.