Microsoft Adopts New Consensus Method in Azure Platform
August 10, 2018
IT corporation Microsoft has adopted extra consensus mechanism in its cloud calculation platform Azure for customers who develop Ethereum blockchain-based applications. Proof-of-Authority will allow for the developers to leave mining for more efficient way.
Proof-of-Authority is an alternative to Proof-of-Work, a more popular yet energy-consuming method. PoA may be used in private networks or consortium blockchains only with invited and approved members as nodes. The new approach will provide Microsoft Azure institutional customers with more efficient and secure way of transaction verification without mining.
Proof-of-Authority requires all the invited parties being present as a proof of their participation in the decentralized network. The mechanism allows for the parties to delegate several nodes on their behalf. This is to maintain continuous network operation and consensus even with one node absent. The method is used in some cryptocurrencies like VeChain or POA Network.