VeChain Thor Mainnet hits the 10 million block mark with no downtime

The VeChain provide chain platform has reached an essential milestone by way of uptime and processing blocks on the VeChain Thor mainnet.

VeChain Foundation sent September on his Twitter feed, including that it’s “an important milestone that testifies to the scalability, security and rock-solid stability of our public blockchain“.

The VeChain Thor community has now exceeded 10 million blocks and is at the moment processing a block variety of 10,004,141 at the time of writing. By comparability, Bitcoin has had 99.98% uptime since January 2009, in response to this monitoring instrument.

The basis notes that it has seen fraudulent company and authorities use by retail big Walmart in each San Marino and China, the place the challenge has shut ties. VeChain teamed up with a Walmart subsidiary in China in June 2020 to trace meals merchandise.

According to the basis, a number of key infrastructure updates are in the pipeline, resembling Proof of Authority 2.0, alongside with “more partnerships and use cases, community dApps, growth and more”.

VeChain makes use of a proof-of-authority consensus mechanism that enables the community to course of high-speed transactions based mostly on id and popularity as a share, utilizing solely 101 authority nodes.

The enterprise provide chain administration platform plans to improve to a next-generation consensus mechanism known as PoA 2.0-SURFACE, which is described as a “secure, adaptive chain scaling approach that is use-case and relatively fork-free”.

According to VeChain, the improve will allow greater on-chain throughput and a decrease chance of forks with “the highest level of data security not found in any other blockchain platform”.

However, VeChain launched its public testnet at the finish of July with the first two elements of the consensus improve, with out specifying a begin date for the remaining mainnet.

VeChain just lately introduced a partnership with international business actual property companies firm Jones Lang LaSalle Incorporated. The firm is partnering with VeChain to discover sustainable blockchain adoption to broaden its operations in China.

Related: Company-level partnership raises VeChain (VET) price to a brand new excessive

On August twenty sixth, Cointelegraph reported that VeChain unveiled a brand new initiative that can assist corporations monitor and report knowledge on their carbon footprint. It advertises the new SaaS digital carbon footprint service as a “quick-to-use tool that enables companies of all sizes to redesign their carbon footprint data management methods by surname”.

VeChain’s native token, VET, has made stable earnings due to the current growth of the challenge. Vocational Education is up 14% in the final 24 hours to trade at $ 0.138, in response to CoinGecko, and is now up 60% in the final month – however nonetheless 51% decrease than its all-time excessive of 0 April 19, $ 28. la.