Live on Testnet: VeChain Proof of Authority Upgrade

On June 20, the VeChain Foundation announced the arrival of the VIP-220 on its unique Twitter test.

This is a modified version of the project agreement algorithm that increases the completion process, protects the system’s usability and robustness by breaking the final state of the PoA system, adding less complexity to the existing system, and a little more information to block network connectivity. .

Many speculate that the price of VeChain could see another increase in this project’s authorization 2.0 upgrade.

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What are the benefits of VIP-220 upgrade?

Although it is currently working on Testnet, Poe 2.0 is making significant progress for the project.

There are other reasons to consider the increase, including VeChain’s recent $ 100 million sponsorship deal with the UFC and its recent collaboration with businesses inside and outside the crypto sector.

VeChain has put in more effort during the year, and the rewards are clear. Over the past six months, the project has grown steadily and visibly.

The biggest success is the release of the VIP-2020 on Testnet, the team said, adding that it is a big step towards upgrading Authority Certification 2.0.

The invention of the finishing device is the true value of the VIP-220. Blocks can be verified twice using this approach.

In addition, this makes it very difficult to reverse transactions, which, according to VeChain, could lead to widespread adoption.

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How did this affect VET prices?

VeChain Native VET was very active last week. As of last Wednesday, June 15, the token had initially declined to $ 0.02154, which was suddenly cut to $ 0.025, which eventually served as a strong resistance.

Unfortunately, this level did not allow the token to pass through it, it dropped to $ 0.023, and remained there until June 18th.

Price of vechain

But on the 18th, support fell sharply, sending the VET drop to $ 0.020 in just a few hours. Fortunately, this support has helped him recover a bit.

The token is close to $ 0.022 once it falls and before gaining reliable support around $ 0.021.

A remarkable resilience of $ 0.022 has served as support for the project since June 19, marking the beginning of the project’s development path.

On the other hand, the first June 20 news item on the VIP-2020, which airs live on Testnet, seems to have given VET a much-needed lift.

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The token hit a small obstacle at $ 0.0235 before finally collapsing on June 21 and returning to $ 0.025.

Now, this level has been found to be very difficult to pass, and the price has started to fall once again. It is currently $ 0.02269, down 4.52%.

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