By Tobi Loba
According to a recent report, Proof-of-Authority (PoA) 2.0 testnet, the consensus algorithm designed to optimize the VeChain blockchain, has been experiencing an increased transaction per block over the last couple of hours.
The outstanding improvement was hinted at the VeChain community by a pseudonymous VeChain enthusiast identified on Twitter as Boosted_Yota.
The screenshot of the transactions log captioned by the user shows a significant rise in the number of transactions per block. According to Boosted_Yota, PoA 2.0 testnet is currently running at 2,500 transactions per block.
He added that if the rate continues this way, PoA 2.0 testnet would be handling relatively 21.6 million transactions on a daily basis, which would be a top-notch performance and 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.”
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 dayEach block 40.125 million GAS,1,000 gas cost .01 VTHO= 401.25 VTHO burn per block, 3.46 million VTHO per day. pic.twitter.com/IJCfDU6YYD
— Boosted_Yota (@Crypto_Lexus) April 15, 2021
Read Also: Popular Strategist Lark Davis Reveals Why He’s Bullish on Ethereum (ETH) Despite High Gas Fees
What Is Proof of Authority (PoA) Consensus?
According to a blog post by Vechain101.com, VeChainThor is a blockchain that is powered by a Proof-of-Authority (PoA) consensus algorithm, unlike Bitcoin (BTC) and Ethereum (ETH) that run on Proof-of-Work (PoW).
In PoA consensus, one of the 101 pre-approved validators is randomly selected to generate the next block. This particular model avoids computational competition, thereby enables a faster and more efficient block production.
Why VeChain Needs Proof-of-Authority (PoA) 2.0
Since VeChainThor’s scaling solution is all about quality, there will always be room for improvement. There are many ways to scale a blockchain network, such as increasing the bandwidth, increasing the block size, among others.
As for VeChain, it chooses to use PoA 2.0 SURFACE (Secure Use-case-adaptive Relatively Fork-free Approach of Chain Extension) consensus to optimize its bandwidth.
Read Also: VeChain Chief Scientist Shares What Makes PoA 2.0 System Much More Secure
In the process of maximizing the percentage of time spent in transmitting data, more transactions can be included in the block, which will raise the number of transactions per second (TPS) and improve the efficiency of the bandwidth.
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