VeChain Heads For Consensus Update, Can VET Price Lessen Bearish Pressure?
VeChain follows the general sentiment in the market and has experienced some relief across low timeframes. The crypto market trended below the critical support zone during the weekend but saw it bounce during today’s trading session. Related Reading | Over $250 Million In Liquidations As Bitcoin Recovers Above $20,000 Buyers have been able to push back bears in the short term but could still face further losses. At the time of writing, VET’s price trades at $0.02 with a 2% profit in the last 24 hours and an 11% loss in the last 7 days. Despite the downside price action for larger....
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VET has seen a 5.7% profit in the daily chart after the VeChain Foundation (VF) published the roadmap for the Proof-of-Authority (PoA) 2.0. At the time of writing, VET trades at $0,068. A major milestone for the project, the foundation expects to eliminate the tradeoffs from the Nakamoto Consensus and Byzantine Fault Tolerance (BFT) consensus used by Bitcoin and other cryptocurrencies. The new PoA 2.0 consensus will enable the blockchain VeChainThor to leverage a high throughput capability with guaranteed data finality. Thus, the users and companies building on this platform can apply high....
Via their Twitter handle, the VeChain Foundation announced the start of the voting process that will allow the community to decide to implement or reject a major update to their network: Proof-of-Authority (PoA) 2.0. This upgrade could usher a new wave of blockchain “mass adoption”, the announcement said. As NewsBTC reported, the PoA 2.0 upgrade will eliminate the tradeoffs of the Nakamoto Consensus and Byzantine Fault Tolerance (BFT) consensus implemented on cryptocurrencies such as Bitcoin. Related Reading | VeChain And DNV Launch First Blockchain-based IVF Service App If approved....
The latest consensus mechanism upgrade is expected to improve several aspects of the network’s security and key operations while making it even more environmentally friendly. Supply chain tracking network VeChain has just upgraded its consensus mechanism to what it claims is the “world’s greenest” method of verifying blocks on the chain.On Nov. 16, VeChain reached a milestone in its six-year history by upgrading its VeChainThor mainnet to the first phase of the Proof of Authority (PoA) 2.0 SURFACE consensus algorithm. VeChain is a supply chain tracking system that launched in 2015 and....
The VeChain Foundation has started 2022 with a potential major announcement. Via their official Twitter handle, the organization hinted at the possible released of a new native stablecoin called VeUSD. Related Reading | VeChain Foundation Welcomes New DEX To Its Ecosystem The Foundation little details on this new product but announced its followers that it’ll be “something special (…). Something that will allow us to take VeChainThor to the next level in multiple ways”. The stablecoin VeUSD will be a tool to “unleash” DeFi capabilities for the VeChain ecosystem. The digital asset,....
VeChain has been among the best performers in the crypto market on almost every chart. VET has posted an increase of over 2,800% in one year. Part of the reason for its rally has been the numerous partnerships that it has consolidated and VeChain’s team continues to advertise. The Strategic Advisor of VeChain, Jackson Fu, […]