POA Network (POA) is actually a side-chain built on Ethereum with a sole purpose of providing an instant solution for Ethereum scalability. By accessing POA Network, all developers can enjoy a highly scalable ecosystem that allows them to fully utilize Ethereum Virtual Machine, enabling devs to build ETH decentralized applications in a highly scalable environment.
It seems that POA Network is fulfilling its purpose as POA token received an increased demand in the market, providing it more momentum, as well as it might be the case that ETH is slowly recovering from its latest low not only due to the most recent rebound that took place on October 15th.
Ethereum is still rising against the dollar on October 16th when the majority of cryptos is dipping, although rising at a low rate. The case with POA on the same date showcases an extraordinary level of progress despite the current state of the market as solely in the last 24 hours, POA made it up by 20%.
POA Network: Instant Ethereum Solution for Scalability
POA Network is said to be an instant solution for Ethereum scalability where developers can utilize the network in form of a side-chain built on Ethereum in order to be able to enjoy a highly scalable ecosystem where they can build applications using Ethereum Virtual Machine.
Moreover, POA Network dev team announced back in April that the team will be launching POA Bridge and POA20 on May 10th of the current year, which further enabled the network to perform direct exchanges between the side-chain and the network, both using Ether (ETH) and POA (POA).
Within their official announcement as published on Medium, the team stated that POA Network bridge makes up for the “first production cross-chain bridge in blockchain history”, while Dogecoin (DOGE) core dev team is also working on a similar project as showcased in a live demo back on September 5th of 2018.
Moreover, POA20 launched together with the first cross-chain bridge, will represent a newly minted token as a result from exchanges between ETH network and POA side-chain.
As of the recent case of events, POA Network team also released full-featured open-source ETH explorer dubbed BlockScout. This full-feature explorer allows for checking of the balance, addresses, and transactions within Ethereum Classic (ETC) chain, Ethereum (ETH) blockchain, as well as POA Network side-chain.
As a frame-work especially designed for supporting Dapp development on Ethereum, POA is additionally gaining momentum via its latest success in the market.
POA Spiking up Big Time with 20% of Gains in the Last 24 hours
Despite the fact that on October 16th the majority of assets, including the top 20 with the exception of ETH that is climbing up against the fiat, although barely around 1%, POA, POA Network’s token, is acquiring a serious bull run climbing up by over 20% in the last 24 hours.
It seems that the interest in this instant scalability solution for Ethereum is ascending for some time now, as POA is showing a more than a positive pace of growth on monthly and weekly charts as well.
That is how despite the widespread negative trends, POA managed to acquire the amazing set of 90% of gains in the course of the last two months, additionally spiking up by nearly 100% in the last 30 days.
Moreover, in the last two weeks, POA spiked up by over 46% against the fiat, alongside with collecting nearly 40% of rises in the course of the last seven days.
As Ethereum’s founder is working on the most appropriate and the most functional scalability solution for Ethereum network, aiming at making it into a more scalable ecosystem, POA is providing the needed framework for devs who are interested in building Dapps with EVM.
This is more probably why POA is having a bull run against the fiat, rising up by 20% in a single day and gaining more interest among investors, currently being traded at the price of 0.12$.
Its ability to pose as a bridge between POA network and Ethereum blockchain only adds more value to its evident potential, also driving the development of Dapps on Ethereum blockchain, which might raise some hope among ETH investors as well.