Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » VeChain To Launch Phase 1 of PoA 2.0 Before the End of this Month

VeChain To Launch Phase 1 of PoA 2.0 Before the End of this Month

Kelly Cromley by Kelly Cromley
Oct 29, 2021
in Market News, News
Reading Time: 2 mins read
0

The creators of the VeChain (VET) platform have announced that the much-anticipated Proof-of-Authority (PoA) 2.0 would be launched in its first phase before the end of October. “We are working on the last measures to get phase 1 of PoA 2.0 ready for go-lives at the end of this month,” VeChain Dec said in a Twitter post. “We are really excited about this significant improvement to the VeChainThor blockchain,” says the developer.

Other blockchains are based on consensus techniques such as Proof-of-Work (PoW) and Proof-of-Stake (PoS). According to Vechain101.com, the VeChain network is driven by Proof of Authority (PoA).

RelatedPosts

World Chain Upgrades to Native USDC in Circle Expansion

WAYE.ai Unveils AI Agents Powered by Sui Blockchain

Real Vision Taps Sui Blockchain to Reinvent Member Engagement

Vietnam Unveils National Push Toward Blockchain Integration

PoA generates the next block by selecting one of the 101 pre-approved validators at random from a pool of 101 validators. This concept eliminates the need for computational competition, resulting in increased speed and efficiency in the block creation process.

VET was founded in 2014 on the Ethereum blockchain. Later, in 2018, it changed its name to reflect its blockchain technology (VeChain). Following that, VeChain engineers began working on the Project of the Atom 2.0 (PoA 2.0). VeChain Foundation announced on October 11 a vote to deploy the first phase of PoA 2.0 on mainnet, which took place on October 12.

The network redesign is now on its approach to becoming a reality, having received the support of a majority of voters. In preparation, VeChain introduced the VIP193 protocol, which improves network safety, scalability, and finality by increasing the number of transactions per second.

VeChainThor is focused on providing a quality-based scaling solution, which is why it makes advantage of the PoA 2.0 SURFACE consensus for bandwidth optimization in its implementation. In computing, SURFACE is an acronym that stands for Secure Use-Case-Adaptive Relatively Fork-free Approach of Chain Extension. The introduction of PoA 2.0 is intended to enhance the number of transactions processed per block while simultaneously improving bandwidth efficiency.

VeChain’s usefulness was shown in August when it formed a partnership with China’s real estate giant Jones Lang LaSalle (JLL) for sustainable property technology (Proptech). In particular, the network allows JLL real estate owners and developers to easily track the carbon impact of their properties during their entire existence. Because JLL tenants have access to a ‘Carbon Label,’ they can make more informed decisions about their workspace. Finally, workers of JLL will be able to benefit from incentives for using low-carbon technologies.

The Carbon Footprint Traceability Platform, which VeChain developed, was the subject of a new software-as-a-service solution announced later in September. In order to revolutionize sustainability monitoring in the fashion sector at every level of the supply chain, the project is focusing on the following areas:

During the same month, the network reached the milestone of 10 million blocks handled in total. Simplex and Shopping.io have also joined with VeChain to facilitate the purchase of VET tokens in a seamless manner, and VeChain has teamed with Simplex to enable the payment of online shopping using VET tokens. The Republic of San Marino has even built a digital COVID vaccination certificate using VeChain, while a Mediterranean hospital has released a COVID vaccination app that is based on the blockchain.

VET is the 23rd most valuable cryptocurrency, having a market capitalization of $8.8 billion. According to our statistics, the cryptocurrency was trading at $0.1313 at the time of writing, representing a gain of 0.7 percent on the day. The coin has also seen a 1057 percent increase in value year to far.

Previous Post

Ethereum Hits Record High as Use Cases Surge

Next Post

Aave to Deactivate Borrowing on xSushi and DPI Highlighting Potential Exploit

Related Posts

circle-usdc-stablecoin

World Chain Upgrades to Native USDC in Circle Expansion

by Kelly Cromley
Jun 12, 2025
0

Digital identity firm World has broadened its collaboration with stablecoin issuer Circle through the integration of native USDC and Cross-Chain...

waye-ai-agents-on-sui-blockchain

WAYE.ai Unveils AI Agents Powered by Sui Blockchain

by Kelly Cromley
Jun 12, 2025
0

WAYE.ai is setting a new benchmark in artificial intelligence by introducing autonomous digital agents capable of functioning across multiple platforms....

Real Vision partners with Sui

Real Vision Taps Sui Blockchain to Reinvent Member Engagement

by Kelly Cromley
Jun 12, 2025
0

Real Vision, a prominent financial media and membership platform, has disclosed a strategic alliance with Sui, a blockchain network developed...

vietnam

Vietnam Unveils National Push Toward Blockchain Integration

by Kelly Cromley
Jun 12, 2025
0

Vietnam is taking a significant step toward embedding blockchain into its national digital infrastructure through a newly announced alliance involving...

paypal pyusd solana blockchain

PayPal Eyes Stellar for Faster, Cheaper PYUSD Transactions

by Kelly Cromley
Jun 12, 2025
0

PayPal Holdings (NASDAQ: PYPL) has announced plans to bring its stablecoin, PayPal USD (PYUSD), to the Stellar (XLM-USD) blockchain network....

sqd-network-debuts-oceanstream-real-time-blockchain-data

SQD Network Debuts Oceanstream for Real-Time Blockchain Data

by Kelly Cromley
Jun 12, 2025
0

SQD Network, a decentralized data-lakehouse platform, has officially introduced Oceanstream, a real-time data delivery solution tailored to institutional investors. The...

Next Post
Aave to Deactivate Borrowing on xSushi and DPI Highlighting Potential Exploit

Aave to Deactivate Borrowing on xSushi and DPI Highlighting Potential Exploit

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

circle-usdc-stablecoin
Market News

World Chain Upgrades to Native USDC in Circle Expansion

by Kelly Cromley
Jun 12, 2025
waye-ai-agents-on-sui-blockchain
Market News

WAYE.ai Unveils AI Agents Powered by Sui Blockchain

by Kelly Cromley
Jun 12, 2025
Real Vision partners with Sui
Market News

Real Vision Taps Sui Blockchain to Reinvent Member Engagement

by Kelly Cromley
Jun 12, 2025
vietnam
Market News

Vietnam Unveils National Push Toward Blockchain Integration

by Kelly Cromley
Jun 12, 2025
paypal pyusd solana blockchain
Market News

PayPal Eyes Stellar for Faster, Cheaper PYUSD Transactions

by Kelly Cromley
Jun 12, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blockchain
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
  • XRP

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree