Based on 528btc, VeChain has completed the second phase of its comprehensive upgrade, introducing a new consensus mechanism and token economics model named 'Hayabusa,' inspired by a Japanese spacecraft. The platform transitioned from a proof-of-authority model to a delegated proof-of-stake model, making validators 'public and permissionless.' The upgrade aims to enhance economic security and user returns by directing all VeChain Gas token rewards to stakers and reducing idle VTHO. As part of the 'VeChain Renaissance' roadmap, the update includes a 100% base fee burn mechanism and improved governance. VeChain also emphasized regulatory compliance, with its work registered under the EU's MiCA framework. The platform claims over 550,000 users in the past year and has partnered with brands like Lululemon and UFC to apply blockchain for product authentication and fitness apps.
VeChain Launches Hayabusa Consensus and Token Economics Upgrade
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