The VeChain team announced in a tweet on Monday that its Proof of Authority (PoA) 2.0 is set to go live on November 17 at block height 13815000. According to the team, PoA 2.0 is the most significant mainnet hard fork by VeChain, and the action will take place with no user impact.
However, the team urged developers and projects running their own Thor Nodes to upgrade their node software to v.2.01 before the Mainnet upgrade to avoid any issues with their dApps.
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 3% so far today and is currently trading at $0.02654.