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Is VeChain Thor a Better Choice for Investment Than Bitcoin?

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VeChain Thor

The world of cryptocurrencies is envisioned to be led by the only giant crypto, Bitcoin but smart traders and investors support altcoins because they know its untapped potential. Bitcoin was introduced as ‘The digital asset’ which is decentralized with a purpose to replace the traditional currency and revolutionize centralized banking & financial sectors. But bitcoin’s platform still hasn’t achieved its goal. Its fees are still very high, and it can handle merely 7 transactions per second. It’s exciting to observe the success of other blockchain projects which are based on a nearly-perfected Bitcoin technology such as VeChain. Its one of the best performing crypto of 2018 till now and offers some serious improvements on Bitcoin tech.

What Makes VeChain Better?

Unlike bitcoin and other blockchain based projects, VeChain has positioned itself neatly in the market doing what it does best and perfecting itself with time. It can handle supply chain management process and ensure that every customer is fully aware of the product’s background history, quality, and credibility. The VeChain platform was recently all over the news due to their rebranding to VeChain Thor. As VeChain Thor, it’ll function as a blockchain-as-a-service and employ blockchain to keep a track of product data in order to provide users with completely scalable and credible experience. VeChain thor will continue to function as an Ethereum-like decentralized App as well as an ICO network. It has already begun hosting various platforms from various commercial sectors such as retail, agriculture, food and luxury items.

Recent Achievements

Recently VeChain announced forming an alliance called ‘Shanghai Wine and Liquor Blockchain Alliance’ along with several other government bureaus and enterprises under the guidance of Municipal commission of commerce and Shanghai liquor monopoly administration. The purpose of this alliance is to improve Shanghai’s liquor industry with enhanced logistics, management, quality, and safety systemization and create a distinguished and flawless wine industry in 2020. This alliance aims to present Shanghai as the leading innovator and the center of blockchain tech and liquor traceability in all of China. Including blockchain technology in such a high-level government-based alliance gives a positive indication and leaves an even positive effect on VEN markets.

3rd Quarterly VeChain Foundation Financial Executive Report

Before entering the VeChain Thor mainnet, the VeChain foundation released their 3rd quarterly financial executive report which extends from February to April. The report made did not consider the coin split as it was finished before releasing Thor mainnet and declared that as of now the VeChain foundation is holding 39% of the total supply while the remaining 61% is currently in circulation. VeChain’s financial executive report indicates their commitment to transparency between the foundation and its dedicated community. The report included detailed information regarding enterprise investors who have invested while indicating the fact that VeChain is slowly becoming influential in the public industry. The report states that around 2.3 million VeChain tokens have been acquired by their strategic partners and an approximate of 9.5 million tokens were paid out as rewards to the VeChain team, all of which their team has locked for 2 years. The entire report is actually a record of recent VeChain achievements and events where the foundation has spent VET. In the said report, the team has mentioned their expansion of markets to South Korea as well as Japan.

Current Market Position

The present devastating situation of bitcoin has shaken each and every cryptocurrency. With BTC trading below $6800, traders and crypto enthusiasts are suffering throughout the markets. VeChain like all other top blockchain projects is presently facing a downward trend which has brought it down to $3.36 per VEN. The price seems to dip more at the rate of 10.51%. It is currently ranked as the 16th largest crypto which has a total market capitalization of $1.84 billion according to the data on CoinMarketCap at the time of writing. Almost $112 million worth of VEN has exchanged hands within the past 24 hours even at a hard time like this.

Conclusion

VeChain’s growth potential cannot be ignored because of the real-world use-case that makes it a solid and smart investment. It’s on the brink of major adoption because it offers smart contracts, ICOs, dApps, data transfer, IoT, logistics, and supply chain. VeChain has already begun providing services with the help of its recent partnerships whereas Bitcoin hasn’t given even the market even the faintest clue regarding its improvement or major adoption. Even though lightning network will soon appear on bitcoin, it’s hard to tell whether it would improve BTC’s commercial throughput and transaction speed. There’s no denying that Bitcoin is still the reigning king of all crypto but VeChain has proved its worth in the past few days. It’s definitely one of the coins which you might want to keep under your radar.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Blockchain technology outshines Bitcoin and Gold during global pandemic

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As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.

However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world. 

Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.

What is blockchain technology?

Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see. 

Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).

Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…

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Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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