VeChain Family and Significant Growth
· Release date for PoA 2.0 Testnet July 27, 2021
· Release date for PoA 2.0 Mainnet?
The VeFAM popularly used to denote VeChain Family has seen significant growth. VeChain Websites, Group Discussions, and Social Channels related to the VeChain Foundation are where new investors can learn more about what they are up to.
Vechain recently pointed to the Roadmap towards PoA 2.0. When one of the community members asked: What’s the release date for PoA 2.0? Lots of confusion and not clear answers. Someone with clarity replied, depends on how long those remaining steps are going to take.
More clarity: They have already released the news that PoA will be done sometime in May and then by the end of Q2. However, now there is a Road Map that contains no dates or timeframe. The community is looking at some better explanation and clarity about the release rate for PoA 2.0.
VeChain has been delivering enterprise-grade products for several real-time projects. VeChain is already the top public blockchain solution provider in the world. When it comes to pursuing the vision of enabling global and scalable mass adoption in public blockchain technology, the VeChain Research and Development team is building SURFACE (PoA 2.0), which refers to a Secure, Use-case-adaptive, Relatively Fork-free Approach in terms of Chain Extension.
What is PoA 2.0? POA as a novel consensus mechanism has been thought and developed to eliminate weaknesses to benefit two main consensus types like Nakamoto Consensus and Byzantine Fault Tolerance (BFT).
This new mechanism makes it possible for the VeChainThor blockchain to maximize its high throughput capability while ensuring data finality.
In a real-time application, this means that several high-volume use cases can exist on-chain, and the highest level of data security can be unfound in any other blockchain platform.
This is a significant update to the technical model; vechainthor becomes the ideal open-source platform for enterprises, governments, or anyone looking to build their applications on a secure, low-cost, immutable, and full-featured public blockchain.
On July 27, 2021, the VeChain Foundation have launched their brand new public testnet with VIP-193 fully implemented. This milestone eventually leads to pave the way towards the full enactment of PoA 2.0 on mainnet.
The PoA Network talks about the Testnet and Mainnet. VIP-193 is the VRF based source of randomness, and the Committee is endorsing the block-producing process. The VIP-200 is the finality mechanism. It goes from step 1 through step 4. Step 2 is about VIP-193, the VRF-based source of Randomness, step3 is about the Committee endorsing Block Producing Process, and step5 is VIP-200, the Finality Mechanism.