With respect to uptime and processed blocks on the VeChain Thor mainnet, supply chain platform VeChain has accomplished a significant milestone, according to the company.
The VeChain Foundation announced the achievement on its Twitter feed on Sept. 1, saying it was “a major milestone that is testament to our public blockchain’s scalability, security, and rock-solid stability.” The foundation added that it was “a significant milestone that is testament to our public blockchain’s scalability, security, and rock-solid stability.”
The VeChain Thor network has already processed more than 10 million blocks and is currently processing block number 10,004,141, at the time of this publication. As a comparison, according to this tracker, Bitcoin has experienced 99.98 percent uptime since January 2009.
The Foundation stated that it has seen con business adoption from retailing behemoth Walmart, as well as government adoption from both San Marino and China, where the initiative has close relations, as well as other countries. Beginning in June of 2020, VeChain will work in conjunction with a Walmart subsidiary in China to track food supplies.
A number of key infrastructure changes, including Proof of Authority 2.0, are in the works, according to the Foundation, as well as “more partnerships and use cases, community dApps, growth, and other initiatives.”
Its Proof-of-Authority consensus technique, which is based on identification and reputation as a stake, enables the network to handle high-speed transactions with only 101 authority nodes, allowing it to scale.
A next-generation consensus method known as PoA 2.0-SURFACE, which the enterprise supply chain management platform characterizes as a “secure, use-case adaptive, and relatively fork free approach of chain extension,” is being implemented on the platform.
According to VeChain, the upgrade will result in increased on-chain throughput as well as a lower forking likelihood, as well as the “highest level of data security unfound in any other blockchain platform.”
Despite launching its public testnet with the first two components of the consensus upgrade in late July, VeChain hasn’t announced a timeframe for the launch of the final mainnet.
Recent announcements from VeChain include a relationship with Jones Lang LaSalle Incorporated, a multinational commercial real estate services organization. Currently, the company is collaborating with VeChain to investigate the viability of long-term blockchain adoption with the goal of extending its operations in China.
It was reported on August 26th by Cointelegraph that VeChain had revealed a new project to aid businesses in measuring and reporting their carbon footprint data.
The company described the new Digital Carbon Footprint SaaS Service as a “rapidly deployable tool, enabling enterprises of all sizes to re-engineer their carbon footprint data management practices.”