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What is "proof of authority" in blockchain?


Options are:


1-        A consensus mechanism where transactions are validated by approved accounts

2-        A method of proving ownership of a large amount of cryptocurrency

3-        A technique for verifying the authrity of blockchain developers

4-        A system for ranking the most authritativeThe loss of mining rewards due to network issues



Correct Answers is:


A consensus mechanism where transactions are validated by approved accounts.