JAKARTA – Amid the decline in the crypto market in recent weeks, VeChain (VET) announced an update called Proof-of-Authority (PoA) 2.0. The launch of PoA 2.0 is claimed to be a new milestone for the launch of the mainnet.
VeChain stated that the upgrade could prompt a new wave of “mass adoption”. That's because the VeChain Thor blockchain will offer greater data finality and scalability than ever before.
The VeChain network supports a secure and easy-to-use blockchain enterprise. Previously, the VeChain community had approved the PoA 2.0 consensus last year.
If PoA 2.0 is implemented it is likely to make the VeChain network the only blockchain that uses hybrid consensus, PoA and Nakamoto consensus and Byzantine Fault Tolerance.
VeChain Foundation itself claims that their PoA 2.0 will provide an additional mechanism to validate blocks twice. The former uses the Nakamoto consensus and later with the “finality gadget” feature to make accurate transactions.
“This is a huge milestone for PoA2. With the finality gadget, the VeChainThor blockchain will provide state-of-the-art security while maintaining its high performance standards,” said VeChain Foundation's Peter Zhou.
As of writing, the VeChain (VET) coin is trading at IDR 363. VET price performance has increased 5.7 percent in the last 24 hours, according to Coingecko data.
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