The VeChain (VET) PoA 2.0 testnet (Proof of Authority) is a consensus algorithm for optimizing the VeChain blockchain. In the past few hours, the transaction volume of each block has increased.
VeChain Enthusiast Shared Performance of Transactions Per Block
A significant improvement in the VeChain community was hinted at by the pseudonymous VeChain Enthusiast, identified on Twitter as Boosted_Yota.
A screenshot of the user’s subtitled transaction log shows that the number of transactions per block has increased significantly. According to Boosted_Yota, the PoA 2.0 testnet is currently running at a rate of 2500 transactions per block.
He added that if this speed continues, the PoA 2.0 testnet will process relatively 21.6 million transactions per day, which is a top-notch performance and an exciting development for the VeChain ecosystem.
Boosted_Yota tweeted: “The VeChain VET POA2.0 Testnet is waking up. Currently 25txs 0f 100 clauses each = 2,500 txs per block. At this rate nonstop all day that is 21.6 million txs a day. Each block 40.125 million GAS, 1,000 gas cost .01 VTHO= 401.25 VTHO burn per block, 3.46 million VTHO per day.”
What is the PoA (Proof of Authority) Consensus?
VeChainThor is a blockchain-based on a Proof of Authority (PoA) consensus algorithm, which is different from Bitcoin (BTC) and Ethereum (ETH) which run on Proof of Work (PoW), according to a blog post by Vechain101.com.
In the PoA consensus, one of 101 pre-approved validators is randomly selected to generate the next block. This particular model avoids computer competition and thereby achieves faster and more efficient block production.
Why Does VeChain Need a Proof of Authority (PoA) 2.0?
Since VeChainThor’s scaling solution is all about quality, there is always room for improvement. There are many ways to expand a blockchain network, such as increasing the bandwidth and increasing the block size.
VeChain decided to use PoA 2.0 SURFACE (Secure Use-case-adaptive Relatively Fork-free Approach of Chain Extension) consensus to optimize its bandwidth.
By maximizing the data transfer time percentage, more transactions can be included in the block, increasing the number of transactions per second (TPS) and increasing bandwidth efficiency.