2022-10-12 21:01:01
Next week, voting begins on the major VeChain mainnet upgrade 'Proof of Authority 2.0' - an update that radically enhances VeChain's ability to deliver on fast-growing global demand for scalable, fully secured public blockchain. So, what's PoA 2.0 and why does it matter?
Proof of Authority 2.0 solves a major trade-off in traditional blockchain architecture:
- Be scalable with high throughput
OR
- Have instant finality
Scalability allows the network to handle ever greater usage. Finality ensures hashed data is instantly secured by the network.
As DigitalTransformation gathers pace, enterprises are exploring how to transform operations leveraging the many benefits of blockchain. Growing demand necessitates scalability, however, without finality, enterprises are cautious of the tiny, but non-zero risk of data loss.
By taking the best traits of the two common blockchain types & eliminating the weaknesses, VeChainThor becomes the perfect platform for real world users - providing a scalable, low carbon platform with the ability to guarantee data quality. For Enterprises & govs, this is key.
Imagine an international carbon market, with many thousands of companies submitting myriad data forming the back bone of a carbon credit market & financial instruments.
Said Carbon data must be verifiable at every level, with tens of millions of data points guaranteed secure.
This, alongside many other examples of large-scale sustainability-related & industrial initiatives such as the CircularEconomy are the kind of dynamic global system that become possible with VeChainThor, armed with the power of the PoA2.0 Mainnet upgrade.
We hope you'll join us next week, VeFam, and join the voting for this monumentally significant upgrade. Just as Bitcoin pioneered a revolution and Ethereum another, VeChain is delivering a revolution of its own. Join us & be part of building the future!
https://twitter.com/vechainofficial/status/1580250849627906048?s=20&t=ZLhFa4hxH9AFk4dXuxms1g
3.4K views18:01
V
