- VeChain introduces its PoA 2.0 update, which eliminates the weakness.
- It is the finality gadget, named Finality with One Bit (FOB).
- The consensus is proposed with two solutions namely VIP-193 and VIP-220.
VeChain is a popular blockchain platform that is structured to enhance supply chain management and business processes. The platform has now announced an update on the property of improving its consensus mechanism. VeChain blockchain development team has been doing their research on providing block finality with satisfying certain conditions.
The current design is implemented from the work on PoA 2.0 (Proof of Authority) consensus. Significantly, this is completely a new one that resulted in designing and implementing a finality gadget. It is named Finality with One Bit (FOB) that runs on two modes of consensus. The names of the consensus are Nakamoto and BFT which are run at the same time proposed by VIP-220. Consequently, the tweet from the VeChain account says that the team is excited to introduce VIP-220, named the FOB.
We’re excited to share VIP-220 is LIVE on private test net; a huge milestone toward our revolutionary POA2.0 consensus mechanism upgrade!— VeChain Foundation (@vechainofficial) June 20, 2022
VIP-220 introduces finality, combining the strengths of the two common consensus types while eliminating weaknesses.https://t.co/iaoo7X9OhU pic.twitter.com/1kHCJKn69C
Finality with One Bit
According to the reports from VeChain, two solutions have been proposed for block finality which are VIP-193 and VIP-220. In the implementation of VIP-193, the two major components used are a VRF-based random beacon generator scheme and a committee-based Hotstuff-like BFT algorithm.
As the BFT algorithm didn’t merge with the system, the researchers collaborated on VIP-220. To reduce the complexity and redundancy, the team worked on it resulting in a finality gadget. It is named Finality with One Bit, in which this algorithm consists of VIP-220 and one implemented from VIP-193.
However, with the finality gadget, the existing Nakamoto consensus confirms the transaction and is finalized by the gadget. Then the transaction is proved to be secure while there is no chance of it being reversed as long as the finality security condition holds. Furthermore, VeChain believes that it has met the huge milestone of upgrading the PoA 2.0 consensus. Moreover, eliminating the weakness by adding two types of consensus has launched the VIP-220, the Finality with One Bit.