Preparing for the EU Deforestation Regulation: Using the Delay as a Business Advantage

What is Proof of Authority?

Proof of Authority (PoA) is a consensus mechanism used in secure digital ledger networks where transactions and block creation are validated by approved accounts, known as validators. PoA is often employed in permissioned-based DLT networks where the identity of participants is known and trusted. This mechanism is considered more efficient and scalable than proof of work (PoW), as it relies on a limited number of validators rather than extensive computational work.

Proof of Authority is suitable for applications where transactions need to be processed quickly and in a trusted environment, such as in supply chain management, where ensuring the integrity and speed of transactions is critical.

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Related terms

Proof of Authority

Proof of Authority (PoA) is a consensus mechanism used in secure digital ledger networks where transactions and block creation are validated by approved accounts, known as validators.

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Accountability

Accountability ensures that companies can verify the integrity of their supply chains, uphold compliance with environmental and social standards, and respond to any discrepancies or issues with honesty and corrective action.

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Deforestation Legislation

Deforestation Legislation encompasses the body of laws enacted by governments to control, limit, or entirely prevent deforestation globally.

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