Proof of Apes
By Petrache Ionut Oct 30, 2022
The mission of Proof of Apes is to establish the ideal setting for the development of novel, innovative technology. In order to push boundaries and speed up other blockchains through interoperability and secure communication layers, the PoA Blockchain is the next step in DeFi Apes' evolution.
PoA Blockchain will continue to be sustainable in growth, infrastructure, and relationships across the DeFi sector thanks to its strong roots.
What does Proof of Apes offer?
With chains built on the EVM, OpenEthereum provides a Proof-of-Authority consensus engine. With Proof of Apes, the Proof-of-Work is replaced by Proof-of-Authority.
Instead of relying on nodes to solve intractable mathematical puzzles, it uses a group of "authorities"—nodes that are specifically permitted to add new blocks and safeguard the blockchain. The chain must receive approval from the majority of the authorities before it is included in the permanent record. By doing so, it is simpler to maintain a private chain and hold block issuers responsible.
The PoA network has no drawbacks over the PoW network in a consortium context. It is more efficient, predictable, and computationally light. It is also more secure. Both the public and the enterprise use PoA deployments.
Since the Proof of Apes blockchain doesn't need GPU mining for Proof of Work to keep the network running, it is incredibly environmentally friendly. The uptime/stability for the network using 99.9% less energy than the BTC network is provided by diligent validators.
The primary motivator for developers and consumers to switch from Ethereum and other smart blockchains to Proof of Apes is the low cost of transactions and on-chain activities. The same transaction on Ethereum could cost over 10,000 times more than it would on PoA during periods of significant network congestion. On the PoA network, smart contract interactions won't cost a lot in gas to perform. Existing contracts and dapps can be rapidly ported by developers to the PoA network.
The PoA Token
The native token of the Proof of Apes mainnet can be purchased here:
The token has been recently listed on Coingecko and Coinmarketcap:
Total Supply: 1 Trillion
Liquidity: 300B (30%)
Exchange Reserves: 200B (20%)
PoA Chain Reserves: 500B (50%)
An NFT Collection has also been minted and made available for people who owned more than 50 million PoA Tokens.
The official Proof of Apes NFT Collection can be found here: https://opensea.io/collection/proof-of-apes
Holding a Hack-a-thon
The Proof of Apes team is holding a Hackathon for developers interested in testing and helping the community out.
You can join this initiative at: https://t.me/proofofapeshackathon
Proof of Apes seems like a very promising Blockchain offering innovative, fast and cheap alternatives to a big part of the market that looks forward to new chains and opportunities.