Key Takeaways:
- VeChain implements a finality gadget within its network.
- The FOB is better than finality gadgets like Casper and Grandpa.
The self-developed comprehensive blockchain network, VeChain Thor (VET) shared that its latest upgrade to VIP-220, a proof-of-authority 2.0 is live on a private test net. The tagline of the update, ‘Finality-With-One-Bit’ talks about the latest implementation, a finality gadget FOB.
VeChain shares the news on Twitter referring to it as “a huge milestone” toward their POA2.0 consensus mechanism upgrade. In a blog post, the network talks about this initiative as an attempt to guarantee the utmost security to blocks using Block finality. However, the team had plans to improve their consensus algorithm as well without replacing Proof-of-Authority (PoA) consensus. They designed the FOB for the same.
The new feature enables them to run the Nakamoto and BFT consensus simultaneously. It also offers them other advantages like achieving block finality, reducing complexities, and adding minimal extra information.
VeChain also shares information about their novel finality gadget and talks about its utility in certain security sensitivity use cases. The design is simple and effective. The best part about the finality gadget is that it does not replace the Nakamoto consensus and it has nodes that are completely locked. It can help recover from network failure as soon as a network gains normalcy and also the underlying blockchain is fork-free.
