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VeChain Takes the Lead in the Blockchain Market with its Highly Adopted Consensus Solution, Proof of Authority (PoA) – Latest Report Reveals

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    • Proof of Authority (PoA) Aura is one of the most widely adopted consensus solutions for blockchains, as it allows for high efficiency.
    • In a recent study, researchers found that PoA Aura could be vulnerable to three types of time-manipulation attacks, which can break the legal leader election and directly harm the fairness of the block proposal.

VeChain’s PoA Model

VeChain, a blockchain-based supply chain management platform, has been using Proof of Authority (PoA) as a consensus algorithm for years. PoA is a type of consensus algorithm that relies on a fixed set of validators, and transactions are validated based on their approval. The validators are selected by the network’s developers, and there are typically fewer validators than in other consensus models like Proof of Work (PoW).

Why VeChain’s PoA Model is Superior

The recent study on PoA Aura highlighted some of the issues with the consensus algorithm. However, VeChain’s PoA model differs significantly from Aura. Unlike Aura, VeChain’s PoA model relies on a larger number of validators, which makes the network more resilient to attacks.

Additionally, VeChain’s model uses a reputation system that assigns weight to validators based on their behavior, making it more difficult for malicious actors to gain control of the network.

VeChain’s PoA model has been successfully implemented in several real-world use cases, including food safety, luxury goods, and carbon credits tracking. The model’s efficiency and reliability make it an excellent option for supply chain management and other commercial applications.

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AnnJoy Makena
AnnJoy Makenahttps://www.ethnews.com
Annjoy Makena is an accomplished and passionate writer who specializes in the fascinating world of cryptocurrencies. With a profound understanding of blockchain technology and its implications, she is dedicated to demystifying complex concepts and delivering valuable insights to her readers. Business Email: info@ethnews.com Phone: +49 160 92211628