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 volume use cases with “the highest level of data security”, according to the VeChain Foundation. The update has been dubbed SURFACE, meaning Secure, Use-case-adaptative, Relatively Fork-free Approach of Chain Extension. Peter Zhou, Chief Scientist at the VF, said the following about the update: The consensus algorithm is the most important part of a public blockchain. Its major upgrade on mainnet has to be done with max cautiousness. It’ll be done on VeChainThor step by step. Never expect it to be a one-off thing or you are doing it in a wrong way. Thus, the update was roll-out to a new public testnet that implements VIP-193 and VIP-200, part of the PoA2.0 consensus, according to the project’s GitHub repository. The proposal focuses on 3 aspects, the VRF-based source of randomness and the Committee-endorsing block pro...
