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Since 2018, VeChain has partnered with the Mathematical Institute at Oxford University to carry out research and provide independent scientific advice. As of August 11, it appears this collaboration is beginning to pay dividends.

Yesterday, the VeChain Foundation tweeted,

“with the purpose of supporting the #blockchain industry, #VeChain and the University of Oxford releases AlphaBlock – our joint research paper on blockchain consensus”.

In a blog post, VeChain went on to detail the need for its proposed AlfaBlock framework,

“considering the pivotal role of consensus protocols in blockchain systems, the University of Oxford and the VeResearch team jointly published a technical paper which proposes a framework for assessing blockchain consensus protocols.”

The Blockchain Space is Littered With Consensus Designs

While the security of these designs can be analyzed theoretically, there is no recognized way to assess the actual performance of a particular consensus design objectively. According to Vechain,

“this causes a significant problem in the adoption efforts for the blockchain industry.”

The Alphablock framework is a solution in that it allows researchers to compare the overall performance of Byzantine Fault Tolerant (BFT) consensus, Nakamoto Consensus (NC), and other protocols.

Critically, it enables blockchain developers to test their consensus designs under different network conditions without actually implementing them.

Previously there was no model that let researchers gauge the effectiveness of a blockchain protocol without actually building it. The proposed framework could be a powerful tool for both academia and developers working on “real-world” use.

VeChain Continues to Make Progress

Founded in 2015, Vechain is an ambitious, enterprise-focused project striving to connect blockchain technology to the real world. VeChain describes itself as “an enabler to drive technology implementation that would bring tangible business value for enterprises.”

As such, the VeChain Foundation has long been committed to strengthening the consensus of the VeChainThor blockchain. In terms of the underlying crypto, VET was last seen treading water before awaiting the next big move.

Per the VeChain post, the work with Oxford University is “just one example of our leadership in the industry.” Plans are in place to extend the scope of Alphablock and further collaborate on other topics like DeFi and blockchain economic models.

The post VeChain & Oxford Announce New Framework to Assess Consensus Protocols appeared first on BeInCrypto.

2 thoughts on “VeChain & Oxford Announce New Framework to Assess Consensus Protocols

  1. Hey all so Binance (com) recently flagged my acct for using a VPN and now wants me to to prove that I'm in an approved country (I'm not, I'm in the US.) I have a decent sum of crypto on that exchange, but they're essentially stuck there until I do this. I haven't reached out to their support team yet. Not quite sure how to go about this.

    I was thinking I could tell them I recently moved to the US and to allow me to move my funds from the .com to the .us acct that I have. Or reach out to their support and just tell them I always use a VPN and didn't realize I was not supposed to be using the .com?

    Has anyone run into this issue recently? What's my next step?

  2. I've been in crypto since late 2018 and I've always had the mindset that any coins I purchase I won't be selling for a very long long time. While its nice to check the price every day when your coin is pumping I try to think 5-10 years down the road and not focus on the daily swings. Does anybody else take comfort in knowing we are still early to the greatest technological innovation since the internet and this current sale is just a great opportunity to accumulate more?! Where my diamond hands at?

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