POA Update
The POA Network is now part of the Gnosis ecosystem. Learn more
The swap has expired. POA tokens are still used on the POA network to pay transaction costs, however the tokens have been delisted from all reputable exchanges. You should not purchase POA with the expectation of any financial gain.
POA can be exchanged for STAKE token on xDai at the rate of 466.6163443 POA per 1 STAKE. This price was obtained using TWAP (Time Weighted Average Price) for two tokens between October 21, 2021 and November 3, 2021.
This opportunity is available until May 5, 2022, after which the exchange will cease.
Some users send STAKE directly from the xDai chain to the Huobi or Gate exchanges. DO NOT DO THIS OR YOU WILL LOSE YOUR TOKENS!
THE ONLY EXCHANGE THAT ACCEPTS BETS FROM XDAI IS ASCENDEX.
If you want to use other exchanges, you need to connect STAKE to Ethereum first. This can be expensive (Eth gas fees), so plan accordingly.
Oracles Network Review
Although Oracles Network is a fork of Ethereum , yet it is a separate independent blockchain platform. The main feature of Oracles Network is their Proof of Authority (POA) consensus mechanism, which allows you to significantly reduce transaction fees and the use of smart contracts, and also ensures fast operation of the network.
POA Consensus
POA Consensus is a modified Proof of Stake (POS), where the role of miners, ensuring the security and operability of the network, is played by validators. Validators are independent public network participants whose identity is notarized. At the moment, their number is 12.
This operating principle allows you to receive confirmations for creating blocks in very short periods of time. The average block creation time is now 5 seconds.
In order to become a network validator, you do not need to have POA tokens and this is one of the advantages of consensus, because under this condition only respected and trusted people are selected, and not those who have large sums of money, like this implemented in POS.
Possibilities and applications
Oracles Network sets itself a very ambitious goal - to become a platform that provides “horizontal scalability”, i.e. build a network of chains with POA consensus that could interact with each other. Anyone can create their own public or private network, select validators, and these networks will be able to work with any decentralized applications (dApps) created on the Core Network.
In addition, the platform has a number of interesting possibilities for use.
For example, any Ethereum dApps can be easily transferred to the Oracles Network and continue to work on this network.
Projects can conduct a crowdsale on the Ethereum network and issue tokens on the Oracles network. By the way, this is how it was done with their own ISO. Or you can completely carry out all stages of launching the application on the platform.
The examples described above are signs of the operation of cross-chain bridges. And here it should be said that another, no less important, goal of the Oracles Network is the creation of “bridges” for interaction with each other of all networks compatible with the Ethereum network, these include Ethereum Classic, Ubiq, Expanse, Rootstock and others. This is similar to what projects like Polkadot or ICON want to do, but on a slightly smaller scale - in the world of Ethereum blockchains.
Oracles Network Token (POA)
The POA token will perform the same functions as Ether on the Ethereum network. Each created block will be accompanied by the creation of 2 POA tokens, one of which is used to reward validators, and the second to ensure the stability of the network. The emission of tokens spent on rewards in the first year will be equal to 2.5% and then will constantly decrease.
Risks
Oracles Network, greatly simplified, can be called “fast Ethereum with cheap transactions.” And it follows from this that if Ethereum manages to solve its problems with scalability and throughput, then the attractiveness of the Oracles platform may decrease.
One of the advantages of POA consensus - attracting validators - can also become its weakness. Even though validators are public people, they can begin to harm the network with their actions. This is just a guess. Time will tell how it will turn out in practice, but in theory such a possibility exists.
Crowdsale
All funds in the amount of 41176 ETH were collected at the presale in 58 seconds.
Token rate: 1 POA = 0.000233 ETH
70% of all tokens were sold, which corresponds to 176,722,560 POA
None of the investors received special conditions or bonuses, including partner companies and funds.
Conclusions
The platform has very great potential for use due to their Proof of Authority consensus, as any organizations, for example, banks, universities, hospitals, etc. will be able to appoint validators for their chains among managers, professors, doctors, respectively, which looks like a very attractive option for closed organizations.
Considering that the main network is already operational, work is underway to launch decentralized applications on the network, and already in the second half of the year cross-chain bridges between platforms will be fully launched, we can say that the safety margin of the Oracles Network is very high and his prospects look promising.
