Bitcoin.com exchange recently expressed their excitement for having listed VeChain in their exchange.
VeChain Foundation tweeted: “With the purpose of supporting the blockchain industry, VeChain and the University of Oxford releases Alpha Block – our joint research paper on blockchain consensus. The proposed framework will be a powerful tool for both academia & real-world use.”
Consensus protocols play a very important role in blockchain systems. Reportedly, the VeResearch team have published a technical paper titled, “An Evaluation Framework for Blockchain Consensus Protocols” to evaluate the blockchain consensus protocols.
The AlphaBlock Framework compares the overall performance of Byzantine Fault Tolerant (BFT) consensus and Nakamoto Consensus (NC).
While there are several blockchain consensus designs in the industry, the security of a particular design is analyzed in a theoretical manner. Due to lack of real-time quantification of the performance of the blockchain consensus algorithm, there are adoption issues.
The current joint work by VeChain provides a sustainable framework to evaluate the consensus performance, and therefore it becomes easy to test and try the consensus designs without actually executing them.
Sydney Ifergan, the crypto expert tweeted: “VeChain and their team have done a good job in making a successful trial run of the consensus testing possible without actually executing it.”
Real-time businesses are continually involved in the process of searching for a scalable and secure consensus which is business friendly. Businesses will love if they are able to gain access to real-time quantifiable security levels for their transactions. Thus being able to make right decisions for their business activities.
VeChain have been improving the underlying consensus of VeChainThor Blockchain providing for long-term development and robustness in the ecosystem.
Sunny LU, CEO of VeChain recently when asked about how big is the VeFam stated as big as we can.
The ecosystem continues to focus on transforming technology value to business value. While there are several public blockchain platforms out there and the industry has been unable to garner adoption to contribute to the real economy. VeChain is focused on solving several consensus issues which can eventually lead to fortune 500 companies lining up to use it.
VeChain have lot of work ahead of them and they are geared to explore the many use cases to ensure absolute usability.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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