VeChain Blockchain unveils virtual node to increase resilience
In the event of a failed request, the virtual node will make an automatic attempt to retry with an alternate node. In case a node is not fully synchronized, it will undergo an automatic transition to another node. Although not an optimal resolution for interrupts, this method offers crucial protection for the current node frame.
The disclosed information indicates that the virtual node has been used in various dApps and has undergone rigorous testing for a period of six months. Network adjustments were implemented during the specified time period to accommodate any power outages. It is important to note that VeChain consists of two discrete node classifications, specifically the Authority node and the Financial node. The function of the Authority node is to authenticate all transactions that occur on the blockchain. The selection and evaluation of nodes is performed by the VeChain Foundation. Furthermore, a comprehensive know your customer (KYC) and application procedure is mandatory. Furthermore, the registration process requires a minimum of 25 billion VET tokens.
The blockchain transactions are not authenticated by the financial node. On the contrary, it serves to increase the stability of the ecosystem and provides benefits. A minimum of 1,000,000 VET is required to access the smallest node. No additional equipment is required. It is sufficient for users to store their VET in a wallet that can be verified. VeChain announced on May 17, via a blog post, that there are no incentives in the form of token rewards or access to additional data for individuals running a public node on the platform. Their motivation to run a public node for almost a year is driven by the desire to increase the number of participants in public infrastructure. As a result, a request for financial assistance was sent to the VeChain Foundation and has recently been granted. Currently, there are three options for improving their arrangements.
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— vechain.energy (@VechainEnergy) 29 May 2023
The American region is characterized by a lack of public nodes, which is in stark contrast to the abundance of such nodes in the European and Asian regions. Therefore, we have implemented an additional MainNet node in the USA. VeChain has reportedly secured partnerships with more than 2 million businesses, in addition to launching its billion-dollar NFT collection. Over the years, the company has sought to leverage its cutting-edge technology to improve supply chain management, traceability and transparency. The use of blockchain technology to distribute surplus energy within a local setting is one of many practical applications of this innovation.
The aforementioned model is designed to reduce energy-related emissions by minimizing reliance on centralized power distribution and efficiently allocating excess supply among nearby participants. The presence of such an ecosystem also strengthens the regional energy network, thereby reducing the likelihood of power outages.
At the time of publication, VET showed positive market sentiment and registered a growth of 4.4% during the previous week, reaching $0.020563.