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July 30, 2020, Shanghai — From July 29 to July 31 2020, VeChain will proudly join hands with Avery D...
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META TRANSACTION FEATURES FOR MASS ADOPTION
Meta-transaction features native to VeChain Thor blockchain’s core protocol, such as multi-party payment, multi-task transaction, controllable transaction lifecycle, transaction dependency, make the development more user-friendly for enterprise adoption.
Controllable Transaction Lifecycle
With transaction fields BlockRef and Expiration, applications can predefine the time when transaction is processed or expired if not packed with
Fee Delegation
Multi-party Payment and Designated Gas Payer enable a freemium model within applications to onboard users without frictio
Multi-task Transaction (MTT)
With transaction field Clause, applications can easily carry out multiple tasks in a single transaction. |
Transaction Dependency
With transaction field DependOn, applications can swimmingly set the dependency to ensure the execution order meets the business need
PROOF OF AUTHORITY
Authority Masternode Operators, with the aligned interest in the development of VeChain ecosystem, maintain the VeChainThor protocol according to the Foundation's governance policy. PoA addresses enterprise' common concerns of inefficient upgrade and waste of energy.
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Low computation power required to achieve the network security and consensus integrity
Controlled via the built-in smart contract, hard forks can be avoided in case authority mastemodes fail to upgrade
All Authority Masternode Operator identities are strictly verified by the Foundation
A few of the Authority Masternode Operators
ECONOMIC MODEL
The unique two-token system (VET+VTHO) significantly helps separate the cost of using blockchain from market speculation. Due to the correlation with the blockchain resource utilization, the cost is more predictable with the monitoring of the VTHO supply and demand. In addition, Foundation's governance mechanism further stabilizes the cost.
5x10-8 per VET per block (10s) - VTHO generation predetermined velocity from any address holding VET
70% of VTHO paid in each transaction is destroyed and the rest is awarded to the Authority Masternode Operator
Adjustable Variables
Adjustment to variables (e.g. gas price, velocity) can be made to maintain the equilibrium of VTHO demand and supply
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