22. April 2024

VeChain News Update: 10 million blocks without downtime

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VeChain, a supply chain management platform, recently reached a new milestone, in time for the consensus upgrade. The new milestone relates to the number of blocks processed on Thor’s mainnet with no downtime. A new record was set, which once again shows how well the VET network works.

10 million blocks with no downtime

The VeChain Foundation itself tweeted that the network has successfully processed more than 10 million blocks with no downtime. The announcement was posted on Twitter on September 1.

The foundation also pointed out that this new milestone means the security, scalability and unprecedented stability of the blockchain. Because even when compared to Bitcoin, which is considered slow but extremely reliable, VeChain is ahead in terms of 100% uptime, while Bitcoin’s uptime has been exactly 99.98% since it was founded in January 2009.

The VeChain Foundation also said it has seen usage by major retail giant Walmart, as well as increased usage by the governments of China and San Marino. As we all know, China is not particularly friendly to cryptocurrency on most crypto projects, but for some reason it has a soft spot for VeChain. The Chinese government has been working with VeChain on a food monitoring solution since June 2020.

A new upgrade of the VeChain platform is in preparation

However, the news does not mark the end of the exciting development. As announced by the VeChain Foundation, several important infrastructure updates are in preparation, including the Proof of Authority 2.0. Additionally, the foundation announced additional partnerships, use cases, growth, community dApps, and more. The company’s supply chain management platform is being upgraded to a next-generation consensus mechanism called PoA 2.0-SURFACE. According to the company, the mechanism will be even more secure and adapt to the respective applications. In addition, the upgrade also results in a higher processing volume of the data on the blockchain.

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