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VeChain Says Is VIP-220 Is Live On Private Testnet

Twitter icon  •  Published vor 3 Jahren on June 21, 2022  •  Hassan Maishera

The VeChain team announced via Twitter on Monday that its VIP-220 is now live on private testnet.

VeChain Says Is VIP-220 Is Live On Private Testnet

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.

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Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.

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