VeChain (VET) is entering a new era, launching the historical Proof of Authority (PoA) 2.0 upgrade

VeChain (VET) is entering a new era, launching the historical Proof of Authority (PoA) 2.0 upgrade

The long-awaited POA 2.0 (Proof of Authority 2.0) has been launched on VeChain (VET), ushering the network into a new era of sustainability, performance improvement, and mass adoption globally.

VeChain launches PoA 2.0 program

More than a year after Proof of Authority 2.0 was first introduced, VeChain has completed its historic upgrade. The upgrade application started at block height 13815000 on November 17 thereafter Final integration with VIP-220.

The VeChain Foundation announced that the game-changing upgrade was seamlessly forked from the VeChain mainnet, adding a definitive addition to VeChain Thor. The VeChain Foundation says the upgrade marks a new era in blockchain history.

What to expect from POA 2.0

Ranked as the largest network upgrade on the VeChain network since its launch, the upgrade is said to facilitate several benefits. This includes ensuring data quality and enhancing chain security. the team chirp;

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The VeChain Foundation says the upgrade makes the network an ideal platform for sustainability, whether in energy consumption or real-world change. The network will also be able to increase missions, thanks to its improved scalability features.

The Proof-of-Authority consensus adopted by VeChain is a Byzantine Fault Tolerant (BFT) algorithm used with blockchains. Offers relatively fast transactions through a consensus mechanism based on identity as stake.

on the flip side

  • VeChain’s native token, VET, has seen minimal price movements even after the historic upgrade. It has only gained 0.68% in the last 24 hours.

24-hour price chart for VeChain (VET)

24-hour price chart for VeChain (VET). source: CoinMarketCap

Why should you bother

The successful launch of POA2.0 brings VeChain one step closer to its goal of universal mass adoption in supply chain management.

Find out why VeChain is bullish for next year at:
Monero Conflict (XMR); VeChain (VET) and The Hideaways (HDWY) Look Bullish for 2023

VeChain Stablecoin plan is covered below:
VeChain announces VeUSD Stablecoin on VeChainThor

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