POA Network — 2018 Progress To Date
This year has been has been an incredible journey for POA Network and it isn’t even over yet! It is hard to believe how far we have come in the last 10 months. We have made significant strides to enhance the blockchain ecosystem with quick, secure, and cost-effective solutions, and we will continue to move forward with this goal in mind. As we reflect on all that POA Network has achieved so far in 2018, we want to share with our community some of the standout accomplishments.
Launch of POA20 and the POA Bridge
In May 2018, POA Network launched the first production cross-chain bridge in blockchain history along with POA20, an ERC-20 compatible token for use on the POA Network. These technologies allow users to send POA tokens back and forth between the POA Network and the Ethereum network. The launch of the bridge was live streamed on YouTube to an audience of more than 3,000 viewers. Since then, we have seen over 33 Million POA tokens bridged. The POA Bridge and POA20 tokens deliver important functionality for developers who need interoperability between different chains. Look out for upcoming announcements about updates to the bridge and its functionality!
For all of 2018, we have been working on BlockScout, an open source block explorer that is fast, secure, and easy to use. Everything from blocks, transactions, balances, and tokens transfers are displayed in real-time. Unlike Etherscan, which is closed source, BlockScout is built with transparency and seeks to benefit all other sidechains, private chains, and Ethereum. As we get very close to first official release we’ve decided recently to integrate Ethereum Classic into Blockscout, allowing users to explore all Eth-Classic transactions in detail.
POA Network is a public, permissioned network based on Ethereum with Proof of Authority consensus by independent validators. Since our launch on December 2017, POA Network has incorporated on-chain governance. This enables processing and recording of voting proposals and decisions directly to the blockchain. As opposed to Proof of Stake, Proof of Authority validators are responsible for reviewing, consulting, and voting on all proposals based on well-informed, independent opinions. The platform ensures a decentralized, trusted, and efficient network, as all validators are required to meet the strict U.S. registered public notary standards.
In August 2018, POA Network unveiled Nifty Wallet, a Google Chrome extension where users can store and transfer POA Network tokens. Nifty Wallet is a fork of Metamask focused on the usability of real-world applications. Nifty Wallet leverages the speed and affordability of the POA Network while allowing users to keep their ETH addresses.
POA Network DApps
The number of DApps released on POA Network grows with every passing month. DApps built on the POA Network have a wide variety of functionality and use cases; some are protocols designed to improve the quality of the blockchain, others are games that use our high speed/low cost blockchain to provide a first class user experience. Below are just a few of the the DApps that were successfully deployed on the POA Network:
- First, we introduced Proof of Physical Address (PoPA), which connects an individual’s physical address directly with a wallet address in which they control the respective private key.
- We also teamed up with Bancor to support a network of blockchain-based community currencies aimed at alleviating poverty in Kenya. The local communities in Kenya would use POA Network as an everyday currency, enabling buying and selling of local goods and minimizing the cost of sending transactions to the Ethereum blockchain.
- In July, we partnered with Infura for enhanced blockchain infrastructure support which provides reliable uptime for POA Network nodes.
- Most recently, we worked with DopeRaider to launch the first blockchain game on the POA Network.
Make sure to visit POA Network’s DApps page for more details and info!
At POA Network, we promised ourselves, our partners, and our community to stay focused and remain accountable for the objectives proposed in our original roadmap. We are proud of all we have accomplished, and grateful for the support of our awesome community. We continue to remain committed to delivering a faster, cheaper and more secure blockchain experience. As we enter the final stretch of 2018, be sure to check your inbox for updates on what we plan to achieve next as well as some exciting announcements!
POA Network Team
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