Description of POA
POA Network, formerly known as Oracles Network, project is an Ethereum-based public network that uses a Proof of Authority (PoA) consensus. POA is an alternative consensus mechanism, which doesn’t depend on nodes solving arbitrarily difficult mathematical problems, but rather uses a set of authorities or nodes that are allowed to create new blocks and secure the blockchain. As a result, the mechanism is cheaper and faster than proof of work (PoW) and the POA team are focused on building a secure and cost-efficient public network that is widely available.