The Thor testnet run by VeChain has successfully been updated to include the new FOB upgrades.
Like a few other blockchain networks in the crypto world, VeChain has been working hard to keep its systems up-to-date, including implementing the latest and most effective functionalities. In this case, VeChain has come up with a new upgrade that has already been run on its Thor testnet.
More About The Update
According to a recent announcement, the VIP-220-AKA upgrade, also known as FOB (Finality with One Bit), is a working mechanism that uses PoA (Proof-of-Authority) mechanism that allows for the same-time implementation of both the Nakamoto and BFT consensus algorithms on the VeChain network. This will create a more robust and effective network with improved resilience.
The #VeChainThor public Testnet has been successfully updated to include VIP-220 – AKA, ‘Finality with One Bit’ (FOB).
All Testnet nodes now require updating (links below)?
Learn why VIP220 is a significant milestone: https://t.co/iaoo7X9OhU#VeChain #blockchain #crypto $VET https://t.co/J6Ij3E96yF
— VeChain Foundation (@vechainofficial) August 19, 2022
FOB Characteristic, According to Vechain:
- “FOB is simple by design and adds minimal redundancy to the existing PoA-based Thor protocol.
- FOB, nodes are implicitly locked, i.e., they could vote by appending blocks for multiple forks.
- FOB could recover from network failure as soon as the network returns to normal and the underlying blockchain is fork-free.”
Node Operators To Install An Upgrade
Along with the announcement, VeChain noted that node operators will now be required to upgrade their testnet nodes to stay at par with the new working model.
VeChain’s Conquest
As recently reported by The Crypto Basic, VeChain has been on a charm offensive to enter into partnerships with various global entities with like-minded goals in the blockchain industry. The network has also been ranked as being among the top 10 most engaging blockchain networks by CoinMarketCap.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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