Earn Your First Bitcoin Sign up and get Bonus Referral bonus up to ,000 Sign up We are here with exciting news! Working on the blockchain, Xrp Classic is nearing the end of their blockchain, which they call Classic Chain. Classic Chain is configured using the powerful and reliable Proof of Authority protocol. Xrp Classic is proud to share the results of closed beta tests and in this article we will give you some important information. What is Proof of Authority? Proof of Authority was proposed by Gavin Wood, one of the co-founders of Ethereum. In the Proof of Authority protocol, users who verify transaction blocks on the blockchain use their identities and reputations instead of using
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Sign upWe are here with exciting news! Working on the blockchain, Xrp Classic is nearing the end of their blockchain, which they call Classic Chain. Classic Chain is configured using the powerful and reliable Proof of Authority protocol. Xrp Classic is proud to share the results of closed beta tests and in this article we will give you some important information.
What is Proof of Authority?
Proof of Authority was proposed by Gavin Wood, one of the co-founders of Ethereum. In the Proof of Authority protocol, users who verify transaction blocks on the blockchain use their identities and reputations instead of using and staking cryptocurrency assets to validate transactions. In networks that use the Proof of Authority protocol, individuals with pre-verified identities gain the authority to produce new blocks. The real identities of the validators responsible for the functioning of the network are known, and their authorization comes after a certain review process following the disclosure of their true identity.
What is the Purpose of Using Proof of Authority Blockchain Networks?
Proof of Authority was developed as an alternative to commonly used protocols such as Proof of Stake and Proof of Work. It is used in blockchain networks with the aim of providing an alternative to the limitations and issues that need to be addressed in Proof of Stake and Proof of Work. The Proof of Authority protocol allows for a higher number of transactions per second compared to other protocols. The energy consumption in these transactions is significantly lower. In comparison to other protocols, lower transaction fees are incurred.
Tests on the Classic Chain TestNet Network:
Nodes
The developer team has been conducting closed beta tests on the Classic Chain TestNet network for a long time, today we will share with you some results of these tests. In the closed TestNet network, the number of blocks currently created has exceeded 100,000. This is a testament to the strong and steady progress of the blockchain.
Fast and Efficient Block Creation and Transfer Time
The developer team has made and continues to make some updates to the methods of creating nodes as a result of long work to improve the performance of the blockchain. Thanks to these updates, it was possible to reduce the average block generation and transfer time from 6.5 seconds to 5.1 seconds in low-intensity situations. These fast transaction times will enable users to perform transactions on the blockchain faster and more efficiently.
Transition Plans to Open Beta Tests
Closed Beta tests of Classic Chain continue unabated, and they stated that they will share other data and achievements they have achieved in the near future. After the Closed Beta tests are fully completed, they announced that they will start open beta tests.
Congratulations to Xrp Classic on their success!
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