Hassan Maishera
The VeChain team announced via Twitter on Monday that its VIP-220 is now live on private testnet. The team said VIP-220 is a huge step toward achieving Proof-of-Authority (PoA) 2.0 consensus mechanism upgrade. VIP-220 introduces finality, combining the strengths of the two common consensus types while eliminating weaknesses, VeChain added.
VeChain Thor (VET) is a blockchain with the posited goal of solving real-world economic problems. VeChain leverages the Proof of Authority (PoA) consensus mechanism. PoA is a Byzantine Fault Tolerant probabilistic consensus mechanism based on HotStuff, which relies on Authority Masternodes (AM) associated with verified identities. VET is up by more than 8% so far today and is currently trading at $0.02398.
