What is the authoritative proof? How does the authoritative certificate play a role in the energy market? Because blockchain technology shares data between multiple nodes (such as computers or servers), consensus algorithms are being applied to reach agreement on a single data value. Authoritative proof is a mechanism. Authoritative proof is an open and licensed network, which is an efficient and easy-to-understand form of proof of rights and interests. It is based on the consensus mechanism based mainly on identity as shares.

The concept of verifier

An important concept to understand when discussing authoritative proof is verifier. The verifiers are approved accounts that verify new transactions and blocks according to the authoritative certification consensus. The verifier performs the verification process with the help of the software. In this way, they don't need to monitor their laptops all the time when the transaction is put into the block. Smart contracts manage all these validators and the identity of each validator.

Work certificate

In the workload proof consensus, in order to verify any block of the transaction, the miners or many nodes of the ledger compete with each other to solve complex mathematical problems. The first miner to find a solution shares it with the rest of the miners' nodes. The scheme has been verified by nodes and reached consensus. The principle of workload proof is that the solution is difficult to find, but once found, it is easy to verify.

Proof of equity

In the equity consensus certificate, the verifier (called the caster) verifies the transaction. Each coin maker will deposit some cryptocurrency he or she owns as shares in the network. Then, an algorithm will select the coin maker with the highest interest and verify the transaction block. The working principle of the equity certificate is "the higher the equity of the verification node in the network, the greater the opportunity and legitimacy of the verification transaction."

Authority certificate, work certificate and equity certificate

Compared with the work proof model, the design method of authoritative proof makes it less detailed in calculation. The workload proved that the consensus needed to use a lot of electricity to solve the problem. When comparing the authoritative proof and the proof of rights and interests, it is important to note that the authoritative proof solves the main problem of the proof of rights and interests model, that is, even if the rights and interests between the two nodes may be the same; Their value to each node may change significantly with the assets they hold.

How does the authoritative certificate play a role in the energy market?

Reduce power consumption - The biggest challenge facing the energy blockchain is the use of electricity. Ethereum and Bitcoin are facing great anger and criticism because of the huge waste of energy and power caused by the use of workload proof as a standard protocol. Digitally, a single Bitcoin transaction consumes enough energy to power about 330 households for one hour. Using authoritative consensus model instead of working consensus proof in these transactions will significantly reduce power consumption.

Time consumption - once a node is verified as a true fact in the power consensus; As long as this node is part of the system, it will remain in this state. In this way, the power of the power consensus will not waste the valuable power spent on the revalidation node. The energy conservation in the transaction makes the authority prove to be a very valuable asset in the energy market.

Establish more robot networks - because transactions and blocks in the PoA network are verified by approved verifiers, it ensures that the robot blocks of the network are established. An individual who becomes a verifier will be encouraged to retain his position. After using PoA in the energy market, similar results can be achieved because service providers or utilities can be incentivised by controlling the rate of services provided.

summary

Because PoA allows faster transactions, security and work for the benefit of end users, it can provide many things for the energy market if it is used effectively. The algorithm will help energy companies save electricity, time and control the market at the same time.