- VeChain’s PoA 3.0 upgrade boosts security and decentralization, removing KYC requirements and increasing validator nodes.
- The new economic node tiers lower staking barriers, allowing more users to participate in securing the network.
VeChain has stepped forward with its Proof of Authority (PoA) 3.0 upgrade, setting the stage for a more decentralized and accessible blockchain ecosystem.
In a podcast, trader Cheeky Crypto highlights the upgrade. The network now features 101 validator nodes, significantly improving security and eliminating central points of failure. This change ensures that the network remains robust against attacks and operational disruptions.
One of the most significant elements in the update is the elimination of the KYC requirements. In the past, users were required to provide ID to engage in staking, something often discouraged by privacy-oriented investors.
By this, VeChain has opened up the entry point to the blockchain to everyone, making the blockchain community more accessible. This follows the general trend among cryptocurrency networks to focus on ease of entry and remain secure.
The increase in validator nodes also improves transaction validation and overall network efficiency. More validators mean a more distributed and secure network, reducing the risks associated with centralization.
Economic Nodes: Lower Barriers, Greater Participation
VeChain’s new economic node tier structure is another breakthrough. Previously, the stakes required to participate were high, and only major investors could participate. The network allows users to stake less VET and gain rewards by introducing multiple economic tiers in PoA 3.0.
key to this mechanism is delegation. Owners who are unable to provide the minimum staking to become a validating node are also allowed to engage in the network by delegating to validators.
This approach ensures everyone, including the less wealthy, are able to participate in securing the blockchain. It also secures the network by promoting mass involvement and avoiding the control by a few.
By introducing the added layers, VeChain promotes decentralization and easier staking. More users result in a participatory and engaging community, making the overall ecosystem all the stronger.
VeChain Advances Governance with VeBetter DAO Initiative
Looking ahead, VeChain’s roadmap focuses on further enhancing user experience and network utility. One of the biggest upcoming developments is the evolution of the V World wallet, which will integrate multiple services such as payments, asset management, and dApps.
This multifunctional strategy aims to provide users with an integrated experience, simplifying blockchain interactions and making them easier to use. Additionally, VeChain continues to advance the governance model through the V Better DAO project.
This decentralized governance structure will give stakeholders a say in network decision-making, so the community will hold control in deciding the project’s future. This project demonstrates VeChain’s priority of decentralization, confirming the long-term vision of the world run by the community through blockchain.
Security remains the focus. Through the enhanced mechanisms in the validators and the resistance in the network in the case of PoA 3.0, VeChain continues to establish itself as a scalable and secure blockchain solution.