Vechain VET’s Ecosystem was Changed on Oct 20th
VeChain has announced that it will hold an all-stakeholder vote regarding the integration of VIP-22 with the VeChainThor (VET) mainnet. If implemented, the network would upgrade to Proof of Authority 2.0. The vote will take place on the upgraded voting platform, VeVote, on October 20th.Proof of Authority (PoA) uses blockchains to execute transactions relatively quickly through a consensus mechanism based on identity as a stake.If the majority is in favor, VeChain will gain finality and solve a core trade-off of Nakamoto and BFT (Byzantine Fault Tolerance) consensus. In other words, the implementation of the proposal would make the project a real-world public blockchain.As per an earlier announcement, the blockchain’s scalability will allow it to handle increasing demand. Finality will allow the network to quickly protect hashed data.
Source
https://t.me/Apecoin_VeChain_Elrond
