To ensure compatibility with existing technology and to leverage the benefits of a popular community, Whitechain Network has chosen to remain compatible with all existing smart contracts on Ethereum and Ethereum tooling. This has been achieved by developing based on a go-ethereum fork, as the team holds high respect for the excellent work of Ethereum.
Whitechain Network has rolled out a new EVM-compatible network utilizing Proof of Authority (PoA) consensus to enable shorter block times and reduced fees. As its development is based on go-ethereum fork, you may observe that many toolings, binaries, and documentation are based on Ethereum.
Proof-of-Authority (PoA) consensus is an efficient consensus algorithm that was coined by Gavin Wood, a co-founder of the Ethereum blockchain in 2017. In a PoA consensus, all nodes are pre-authenticated, which allows using consensus types that provide a high transaction rate in addition to other benefits.
Advantages of PoA consensus
Compared to other consensus types that require proof of spent computational resources (Proof-of-Work) or an existing "share" (Proof-of-Stake), PoA consensus has several notable advantages:
It does not require high-performance hardware like PoW consensus, which demands nodes to spend computational resources for solving complex mathematical tasks
The interval of time at which new blocks are generated is predictable. For PoW and PoS consensuses, this time varies
Blocks are generated in a sequence at appointed time intervals by authorized network nodes, leading to a higher transaction rate
PoA consensus is tolerant to compromised and malicious nodes, as long as 51% of nodes are not compromised
How PoA consensus works in Whitechain Network
In Whitechain Network, only selected nodes known as validators (validating nodes) can generate new blocks. These nodes are responsible for maintaining the blockchain network and the distributed ledger. The blockchain registry maintains the list of validators, and the order of nodes in this list determines the sequence in which nodes generate new blocks.
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