VeChain: Why VET's Ecosystem Could Change on Oct 20th
VeChain has announced that it will hold an all-stakeholder vote regarding the integration of VIP-22 with the VeChain Thor ( 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. On Oct. 20th, we launch the all-stakeholder vote on our upgraded voting platform, VeVote, to integrate VIP-220 with #VeChainThor Mainnet. If enacted, #VeChain gains finality and solves core trade-offs of Nakamoto & BFT consensus, becoming the perfect real world #blockchain. $VET https://t.co/unJwwr9vm6 — VeChain Foundation (@vechainofficial) October 18, 2022 Proof of Authority (PoA) uses blockchains to execute transactions relatively quickly through a consensus mechanism based on identity as a stake. What changes will the proposal bring? If the majority is in favor, VeChain will gain finality and solve a core trade- off of Nakamoto and BFT (Byzantine Fault Tolerance) co...