Introduction
VeChain is a platform based on Blockchain technology facilitating business processes by enhancing supply chain management. The blockchain-driven platform’s objective is to streamline the information flow and processes of intricate supply chains by implementing peer-to-peer distributed ledger technology. The platform consists of two customized cryptocurrency tokens and is VeChainThor Energy and VeChain Token. The former is for the execution of innovative contract transactions, and the latter is for the transfer of value across the network of VeChain. VeChain is developing the Blockchain-powered platform to incorporate ICOs and the execution of devices among IoT devices.
Accomplishments
- VeChain becomes the first five-star rated Blockchain service provider in the world.
Certified by TUV Saarland, VeChain is now recognized as the first Blockchain service platform in the world. The certification has helped VeChain in carving a niche in the Blockchain-driven world of business and enterprise. TUV Saarland conducted stringent auditing of the Blockchain-based services of VeChain to analyze the essential elements like the reliability of the network, technical scalability, and practicability of the application for the certification. VeChain performed like a pro at the regulatory compliance tests across several jurisdictions. The platform also furnished the certifying agency with detailed reports concerning the Blockchain services, industrial applications of Blockchain technology, business development schemes, technical documents delivery of technological services, acceptance archives, and more. VeChain was awarded the certificate due to the particular test reports paired with glorious technical expertise and ample market-proven Blockchain-powered use cases. The CEO and co-founder of VeChain, Sunny Lu, is now focusing on developing industrial Blockchain applications for enterprises.
- VeChain’s Superior Platform Enables A Flourishing NFT Ecosystem.
NFTs (Non-fungible Tokens) are novel assets tracked and maintained across the vast Blockchain networks. These NFTs are being deployed across various industries, making the market cap of NFT shoot past the $315 million mark by the end of 2020, as per price prediction reports. VeChain, the foremost enterprise-oriented public Blockchain-based platform, focuses on interconnecting NFTs with the real world to create a proliferating NFT ecosystem. VeChain is working to enable application developers to employ the NFT toolset of VeChain for the real-world utility of NFT. Today, VeChainThor Blockchain is the most efficient platform for the creation of NFT-based applications. In this regard, the Blockchain services of VeChain offer a stable protocol of high-speed equipped with special features to eliminate the intricacies of Blockchain and provide complete support to the applications. VeChain also offers Foundation Grants for the migration of NFT-based projects to the platform. In this way, VeChain is paving the way for developing a robust ecosystem of NFTs for the community project and enterprise partners of VeChain.
- VeChain Introduces Fee-Delegation as a Service (DaaS), Enabling Seamless Mass Adoption of dApps and Creating New Business Opportunities.
The Blockchain-based platform of VeChain is now ready to serve as a layer of infrastructure to deploy the fee-delegation protocol. The Fee-Delegation as a Service of the VeChain platform enables the Blockchain-based projects to hide the intricacies of meeting the transaction costs, thereby improving the user experience most successfully. Another implementation of the Daas lies in making the payment of the transaction energy fees on VeChainThor with VeChain ecosystem tokens. The VeChainThor token helps in providing native support to the Blockchain-based dApps in a more technically efficient way. The core development team of VeChain has prototyped the DaaS and has built an all-new faucet app for demonstrating the services. The new faucet app permits every user to obtain the crypto tokens of VeChain by invoking a smart contract transaction without making any transaction costs. With the help of VeChain, the user can employ the dApps by simply signing the transactions using the private key for invoking the intelligent contract function. The transaction can then be validated and included in the public ledger without incurring extra costs.
- Announcing VeChain Sync 2 — Unlocking Revolution For The Entire Blockchain dApp Industry, Enabling Seamless User Experience Across All Platforms.
It may be pretty easy to use web-based applications, but when it comes to using the dApps, employing the same for doing real-world tasks is a tad bit difficult. It requires a lot of technical expertise to use the dApps by managing multiple cryptic assets and paying the energy fees. Moreover, the infrastructure of dApp is also very complex and costly. Only the newly created electronic wallet application of VeChain, Sync 2, can rescue the dApps users at such a junction. The wallet app works with the VIP-201 and VIP-191 protocols to improve the infrastructure and enable the mass adoption of dApps. Sync2 makes the use of dApps very convenient and intuitive. It is accessible through every popular web browser and can be installed on any operating system device. The core development team is also working on the launch of Connex 2 JavaScript library to enable the users to integrate Sync 2 with dApps through a simple API call.
Conclusion
VeChain shall continue to accomplish more milestones and provide state-of-the-art Blockchain-based services to the world. Its benefits have the potential to solve real-world economic problems. With stellar features like controllable transaction lifecycle, fee delegation, multi-task transaction, and transaction dependency, VeChain is the most high-grade Blockchain service provider platform globally. From the above accomplishments it can be clearly stated that VeChain will definitely prove its mark in near future as it can be clearly seen based on Vet coin price prediction.