Gate.io Supports Upcoming VeChain (VET) Hardfork Upgrade

Announcements Gate.io Supports Upcoming VeChain (VET) Hardfork Upgrade

2021-11-11 09:07:28 UTC 43529 Read

According to the VeChain team, VeChain’s hard fork named VIP214 will be activated on mainnet at block # 10,653,500 , estimated at 08:00 UTC on 16 Nov. Gate.io supports this upgrade and will suspend VET deposits and withdrawals during the process. Deposits and withdrawals will be resumed as soon as possible after this upgrade. VET trading will not be affected.

Thank you for your understanding and continued support.

This is part of the PoA2.0 consensus upgrade and proposes. It added a per-epoch VRF-based source of randomness that improves the security of the current leader selection mechanism, making it immune to attacks like corruption attacks or grinding attacks.

Learn more:
https://github.com/vechain/thor/releases/tag/v1.6.0

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