VeChain is a blockchain platform that implements distributed registries to reduce entry barriers, is compatible with smart contracts and is designed to improve the supply chain and accelerate the mass adoption of blockchain technology. Using the functions of meta transactions, the method of consensus with confirmation of authority (PoA), the management mechanism in the blockchain and a unique system with two tokens, the VeChainThor blockchain hopes to solve the problem of launching large-scale commercial decentralized applications (dApps).

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VeChain

VeThor token is a VIP-180 token, is the cost of using the VeChainThor blockchain and essentially represents the level of smart contracts on the network. Its main goal is to facilitate processes and transactions in the blockchain. VTHO is an integral part of VeChainThor's work.

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VeThor Token

Block finality is an indispensable property for a modern blockchain system. It provides an absolute security guarantee for blocks (and therefore, all the transactions packed in them) that satisfy certain conditions. We, at the VeChain blockchain dev team, have been pursuing this property along the way to improving our consensus algorithm.

PoA 2.0: Finality with One Bit

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We're excited to share VIP-220 is LIVE on private test net; a huge milestone toward our revolutionary POA2.0 consensus mechanism upgrade!

VIP-220 introduces finality, combining the strengths of the two common consensus types while eliminating weaknesses.

https://www.vechain.org/poa-2-0-finality-with-one-bit/

https://twitter.com/vechainofficial/status/1538879015561351170?s=21&t=teKw-3RyyB_GN0LAQNLk3A

We're excited to share VIP-220 is LIVE on private test net. a huge milestone toward our revolutionary POA2.