VeChain Foundation Announces Vote for POA2.0 Upgrade
The VeChain team decided to eliminate few existing boundation from the VeChain network and bring new opportunities to enhance nhe network adoption.
VeChain is a popular public blockchain network which claims that they have potential to solve real world economic problems through their ecosystem. The whole consensus of VeChain is based upon the Proof-OF-Authorirty concept.
VeChain team announced recently through the twitter handle that they are starting the Vote process to get support to bring the VeChain upgrade with the PoA2.0.
In the tweet, they said that “Proof-of-Authority (PoA) 2.0 upgrade could usher a new wave of blockchain “mass adoption”
According to the reports, this new upgrade will eliminate the system mechanism of tradeoffs of the Nakamoto Consensus and Byzantine Fault Tolerance (BFT). These are common things, which are used in the flagship crypto assets like Bitcoin. But this new upgrade will eliminate such things and will enable new options.
If through the vote process, VeChain team will get majority support then they will bring this upgrade in the network and with this upgrade Vechain network will be able to execute it’s data transactions with more speed. So it will attract other huge big companies and mass volume users adoption.
VeChain Foundation stated on upgrade
“..the VeChain Research and Development teams have been working on a massive upgrade of the VeChainThor blockchain called SURFACE (PoA 2.0), standing for a Secure, Use-case-adaptive, Relatively Fork-free Approach of Chain Extension the VeChain Research and Development teams have been working on a massive upgrade of the VeChainThor blockchain called SURFACE (PoA 2.0), standing for a Secure, Use-case-adaptive, Relatively Fork-free Approach of Chain Extension”
According to the VeChain foundation team, this new upgrade will make the VeChain ecosystem “lead the pack on the road to mass adoption due to the development of many revolutionary technologies’ ‘. And when they will get support for the upgrade then surely VeChain will be the first blockchain network of “combined consensus mechanism”.
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