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Microsoft Launches Next Ethereum Blockchain Ledger Product On Azure

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After the successful deployment of the existing Proof-of-Work (PoW) solution across a variety of industry verticals, Microsoft has released the next Ethereum blockchain ledger product on its cloud platform Azure called the Ethereum Proof-of-Authority (PoA).

The PoA algorithm is a replacement for the PoW algorithm in a blockchain, and is more suitable for permissioned networks where all consensus participants are known and reputable.

In PoA, each consensus node on the network has its own Ethereum identity. Each member would run redundant consensus nodes to ensure a highly available network presence. The PoA deployment comes with a Governance DApp to simplify voting and validator delegation.

Each node comes with an identity leasing system that ensures that no two nodes carry the same identity, while new nodes can quickly spin up and resume the previous nodes' identities in case of a regional outage of a node.

The PoA solution also comes with Azure Monitor to track node and network statistics. For application developers, this provides visibility into the underlying blockchain to track block generation statistics.

Meanwhile, network operators can use Azure Monitor to quickly detect and prevent network outages through infrastructure statistics and queryable logs.

PoW is the original consensus algorithm in a blockchain network, which is used to confirm transactions and produce new blocks to the chain. With PoW, miners compete against each other to complete transactions on the network and get rewarded.

PoW works well in anonymous, open networks where competition for cryptocurrency promotes security on the network. It leverages computation costs to self-regulate the network and allow fair participation.

PoW required the solving of complex algorithms, consuming vast amounts of electricity and computing power.

by RTTNews Staff Writer

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