VeChain Enters a New Era of PoA2.0 on Block Height 10,653,500

VeChain, the blockchain platform designed to enhance supply chain management and business processes, has safely entered a new era of PoA2.0 on the block height of 10,653,500.

VeChain made the announcement via Twitter on November 16. According to the team, this new consensus algorithm will support their ever-growing ecosystem, including its tokens — VET, VTHO, VeChainThor.

In addition, the company said that finally, they’ve made it. Adding to this, the VeChain team also thanked the developers for their continuous efforts. Furthermore, the firm also appreciated the VeChain community:

We also need to say thanks to our dearest #VeFam. Let’s enjoy this moment together!

Prior to this, various exchanges have announced that they would be supporting the VeChain (VET) network upgrade and hard fork. Among these exchanges, Binance supported the crypto by suspending all deposits and withdrawals of VET from approximately 2021-11-16 07:00 (UTC).

Note that the upgrade is part of VeChainThor v1.6.0, which activated POA2.0 Phase 1 on the network’s testnet on November 5. Meanwhile, November 16 saw the mainnet’s activation, which is the reason why the community is excited at the moment.