The biggest problem that faces the Ethereum ecosystem is that of scalability and connectivity. Luckily, POA Network (POA) is working towards changing this, and open up the smart contracts space in ways never seen before. One of the most interesting aspects of POA networks is the upcoming milestone of giving POA multiple proof-of-authority networks that are brought together by interledger protocols. This is an interesting aspect of the POA network coin that is guaranteed to open up the smart contracts space significantly for a number of reasons.
For starters, it is likely to significantly drive down transaction costs on the Ethereum platform. That’s because when multiple POA networks are interconnected, individuals looking to launch Dapps don’t need to develop the entire blockchain infrastructure from scratch. They can easily use already existing infrastructure. This will lead to an explosion of decentralized applications on the Ethereum ecosystem, since anyone with an idea can launch an app, at low cost.
Then there is the fact this interledger connectivity will completely eliminate the problem of scalability on the Ethereum network. Ethereum has had a scalability problem for quite some time now. However, with the interlinked blockchain on the POA network (POA), this problem will come to an end. Different blockchains will be in a position to share assets, making it faster for individual Dapps to ride on those chains and launch. This is about to usher in an era where massive worldwide applications with millions of users can be launched on the blockchain and run cost-effectively, without hitches. In short, POA networks is about to push smart contracts and decentralized applications to the masses.
But this is not the only aspect that is anchoring the value of POA networks. Yesterday, Binance announced that it was unveiling POA on its platform and we all know what happens when a coin is listed on a major exchange, right? Its value grows significantly since its legitimacy in the eyes of investors is upheld. This news is therefore a great value boost to POA networks.
Considering that the value of some lesser coins have surged upon listing on major exchanges, one can only imagine how much the value of POA networks will rise now that it has been listed on Binance, one of the most popular exchanges in the world. The coin is already showing signs of an impending upwards break. A look at the coin’s day chart reveals a strong uptrend with trading volumes increasing significantly. From a technical analysis view point, there is a chance that this coin will reach $1 in the next few months.
POA networks (POA) is probably the best coin you can buy right now. Its strong use case on the Ethereum ecosystem coupled with its recent listing on Binance are enough to push it to the moon. This is one of those coins that you should buy with a long-term view in mind. You can expect that as the number of Dapps increases, so will the value of POA.