Cryptocurrency

POA Network and its Position in the Market

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POA Network (POA) was available for trades at a higher value. The increase was undertaken by 3.5 %, which was against the US dollar considering a period of one day, which ended at 20:00 PM E.T. on February 11th. POA Network has a total market capitalization of $6.19 million, and POAs worth around $132,794.00 was traded (at all related exchanges) in the past day.

The value of one POA token at present is $0.0281 or 0.00000718 BTC, including major cryptocurrency exchanges like IDEX, Bancor Network along with Bibox and Ethfinex. Since the past one week, POA is traded at a higher percentage of 3.2% against the dollar.

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About POA Network:

POA Network is crypto introduced by PoA coin which runs on the Proof-of-Authority algorithm. It came into the market on July 20th, 2017. The total supply of POA Network is 258,036,410 units, and it has a circulating supply of  220,167,290 coins. POA was introduced to make smart contracts work more efficiently, quicker and accurately.

POA Network is also called an Oracles network which permits, open/public blockchain powered by Ethereum. POA Network comes with a bunch of built-in dApps. This is done with the purpose of enabling smooth functioning, governance, identity verification features, etc.

POA Network is run on the Ethereum blockchain technology, so a person can store POA in any of the wallets which are in compliance with Ethereum rules and regulations (protocol). However, hardware wallets are recommended.

One can buy and sell POA Network on the above-mentioned exchanges. It is typically not possible for traders/investors to buy POA directly by using US dollars or any other fiat. Investors who want to trade in POA Network would first have to purchase leading cryptocurrencies like Ethereum or Bitcoin on a crypto exchange which allows deals in US dollars like Gemini. Investors would buy leading cryptocurrencies first and then use their newly-possessed crypto to buy POA Network.

Consensus algorithm, Proof-of-Authority algorithm integrated with POA Network makes it unique and help it to stand out among other crypts in the market. POA assures fair, unbiased and safer movements. POA enables to hold policy breaching elements responsible for the issues. The upper position of POA Network in global market capitalization makes this cryptocurrency a good option for investors/traders.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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