VeChain Successfully Launches VIP-220 Component on Private Testnet
VeChain has achieved a breakthrough. According to the project's recent announcement on Twitter, it has successfully launched the VIP-220 on its closed testnet, a huge step towards its goal of launching a revolutionary update to the consensus mechanism known as POA 2.0.
VeChain, launched in 2015, has had one or two security incidents along the way. Then the VeChain team decided to change the consensus mechanism and proposed the POA 2.0 update, designed specifically to eliminate weaknesses and provide a better and more reliable service.
The VIP-220 was launched on the closed testnet on June 20th. While the project has received some criticism for its slow development, many have spoken out in support of making sure everything works as it should, even if it has to wait a bit. The VIP-220 is a vital component that combines the strengths of the two common consensus types while eliminating the disadvantages.
Image: Times Tabloid
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