VeChain’s POA 3.0 Is Here—Major Upgrades & No More KYC for All!
The post VeChain’s POA 3.0 Is Here—Major Upgrades & No More KYC for All! appeared on BitcoinEthereumNews.com.
An analyst breaks down VeChain’s Proof of Authority (POA 3.0) upgrade and highlights its potential to improve inclusivity and democratize decision-making. The analyst also pointed out the prediction that VET could imitate the explosive price move recorded in 2020 to hit $1. In a previous article, we discussed one of VeChain’s (VET) most exciting updates of the year, Proof of Authority (POA 3.0). In that report, we explained that it would provide new staking opportunities while enhancing greater decentralization for the network. Days after, another renowned investor and analyst, identified as Cheeky Crypto, provided an extensive breakdown of this technical upgrade. Source: Cheeky Crypto In the 13-minute 51-second video, Cheeky Crypto explained that the upgrade is being implemented to significantly transform the crypto industry by ramping up security, slashing staking barriers, and eliminating Know-Your-Customer (KYC) verification. Delving into this, he highlighted that this upgrade is the third iteration of the Proof of Authority (POA) consensus model. Most importantly, this would introduce a revamped system for validator nodes to make the VeChain ecosystem more decentralized and secure. According to him, a minimum stake of 1 million VET was required to run a node previously, posing a huge challenge to several participants. With POA 3.0, more users would be able to stake small amounts and still be part of the network. Another expected feature in this upgrade is the introduction of the X Economic nodes delegation system. According to the analyst, this enables small nodes to delegate their collateral to one of the 101 validator nodes. This would ensure that a simplified and more inclusive staking process is provided. Meanwhile, the elimination of KYC encourages massive participation, which, in the end, encourages democratic decision-making in the blockchain. VeChain’s Roadmap and Price Prediction Speaking on the general roadmap, Cheeky Crypto pointed out that…
Filed under: News - @ February 22, 2025 5:27 am